TL,DR
- Proposal to boost liquidity on decentralized exchanges, focusing on QRDO/ETH pair.
- Strategy involves incentivizing users to provide liquidity, obtain LP tokens, and stake them for rewards.
- LP Rewards sourced from Ecosystem Fund (2M QRDO) to avoid impact on Staking Fund.
- Proposal includes incentivizing community participation in voting with 200,000 QRDO from Public Goods.
- Campaign planned with two 30-day events, backed by marketing targeting potential LP participants. (marketing budget from QPIP-6)
- Aim to close discussions by 20/03 and open polls from 21/03 to 22/03.
Dear QRDO Community,
As we’ve observed in recent months, our efforts to enhance liquidity on centralized exchanges have successfully met the growing demand and supply, resulting in increased trading volumes across major platforms due to the latest news and activities.
The introduction of incentivized governance and airdrops has achieved two primary goals: bolstering governance participation and increasing the number of tokens locked in staking.
Objectives
With this proposal, we aim to accomplish two key objectives:
- Boost liquidity on decentralized exchanges.
- Increase locked tokens outside of Qredo platform.
Proposal
- Proposal aims to enhance liquidity on decentralized exchanges, focusing on QRDO/ETH pair.
- Strategy involves incentivizing users to provide liquidity and stake LP tokens for rewards.
- Two 30-day events planned with marketing support to attract new participants.
- Rewards sourced from Ecosystem Fund (2M QRDO);
- Community participation incentivized with QRDO tokens from Public Goods (200k QRDO)
We’ve opted for the QRDO/ETH pool over QRDO/USDC to minimize the risk of impermanent loss for those participating.
Our strategy involves launching a campaign that encourages users to provide liquidity, obtain LP tokens, and then stake these LP tokens for additional rewards on the designated platform described on the final proposal. These rewards are designed to be higher than current staking rewards offered on qredo.network, offsetting any potential impermanent loss and attracting new users to purchase QRDO and contribute to liquidity.
This campaign is planned to consist of two 30-day events, accompanied by a marketing campaign targeting potential LP participants through key opinion leaders. The budget for the marketing effort will be allocated from the previously set aside QPIP-6 marketing funds and will still depend on the final allocation of resources and timing.
The rewards will be sourced from the Ecosystem Fund, ensuring no impact on the Staking Fund.
Additionally, we propose incentivizing community participation with 200,000 QRDO from Public Goods for those who participate in voting.
We are eager to engage with the community on several discussion points:
- Selection of the decentralized exchange (DEX) to activate the pool (e.g., Uniswap, SushiSwap)
- The total allocation for this campaign from the Ecosystem Fund (proposing 2M QRDO)
- The chosen protocol for staking LP tokens (options could include SushiSwap, Merkl, etc.)
We look forward to your input and discussions to refine and progress with this proposal ideally to close discussions by Wednesday 20/03 and open polls from 21/03 to 22/03.
