Proposal: APW Open Market buyback In exchange for limited LM

This proposal is expected to appear on Snapshot for voting on 2021-11-07T12:00:00Z. Make sure to stake your vBNT for voting before this date and time to participate in the DAO decision.

TL;DR

  • APWine (APW) has been recently whitelisted on Bancor and launched a liquidity pool

  • Now requesting 2500 BNT per week for 8 weeks to give enough liquidity for the buy back to make sense and in coordination with the upcoming v1 launch which will draw attention and demand to the APW token

  • If approved, APWine will direct additional liquidity and volume into the Bancor ecosystem and accelerate the benefits derived from the Bancor Vortex burner. This will be achieved by creating liquidity pairs for Future Yield tokens when Bancor v3 deploys.

Justification

APWine is settling into the Bancor Ecosystem and aiming to facilitate the trading of unrealized yield across DeFi. The buyback program, through increased swap volume, increases the TVL within the Bancor ecosystem (by locking fees) and burns BNT (reduces the total BNT supply). As an added benefit, users are able to decrease their risk by borrowing against their staked BNT.

The APWine Team will soon deploy v1 of its protocol, creating demand for the APW token and is eagerly awaiting V3. During which, APWine is aiming to establish a deeply entrenched footprint within the Bancor Ecosystem. Our goal is to allow users to trade future yield on their Bancor LP position(s) through the custom APWine AMM.

Vote FOR: Start LM on APW/BNT pool at the amounts listed above in exchange for using the Bancor pool for APW buy backs

Vote AGAINST: make no change

Cheers :wine_glass:

3 Likes

hell yes - more buy backs pls

1 Like

Fully support this proposal but would like to see the pool be seeded first so that LPs can stake $APW single-sided:

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It’s actually short by roughly ~120 $BNT tokens at the moment. I would add ~300 $BNT tokens so that in case $APW goes up in price and $BNT gets removed from the pool then there is some buffer so that it doesn’t fall below 1K $BNT tokens.

Note that once single-sided staking is available and LPs add enough $APW so that the protocol co-invests a minimum of 1K $BNT (probably best to wait until there are roughly 3K $BNT tokens), you can remove the initial $BNT and $APW liquidity and stake $APW single sided.

One other thing, I have a high degree of confidence that the initial 250K $BNT co-investment will get completely filled on the TKN side and we probably want to increase that to let $APW LPs stake with IL protection while LM is active. Probably best to revisit if this proposal passes.

2 Likes

I think that’s what they mean here. Right @YieldCeption ?

If the proposal passes, we ideally want this pool seeded so that single-sided staking is available before LM rewards are activated.