Proposal: Activate LM rewards for WOO

Proposal to Activate LM rewards for WOO

This proposal is expected to appear on Snapshot for voting on Monday 24th of May 2021 at 12:00 pm UTC.

TL;DR

  • The WOOBNT pool has been whitelisted on the 10th of May.
  • It has since averaged 8-12% APR. There isn’t data on Dune Analytics on the WOOBNT pool yet.
  • The WOO team has expressed their interest in activating WOO LM rewards on this pool.
  • The WOO stakers have completely filled the space of the pool on the WOO side after the 500k BNT co-investment, which now has a $4,300,422 worth of WOO liquidity.
  • The pool is the 2nd deepest DEX pool, with roughly half the TVL of Uniswap v2 ($8,883,784), the deepest pool [1]. The Uniswap pool is currently getting WOO incentives.

Justification

I believe LM rewards will help bring more liquidity and volume to this pool, as well as maintain a friendly mutually-beneficial relationship between Bancor and Wootrade. The potential for a Bancor integration on the Wootrade platform is a good incentive to bring their community over. They seem to be informed on IL and have asked about LPing here multiple times.

I’ll ask the WOO community to visit our forum and community call to express their interest.

Please share your opinions/thoughts.

[1] Wootrade Network markets checked on Wootrade Network price, WOO chart, market cap, and info | CoinGecko

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