Proposal: Support joint liquidity mining program of 1inch exchange

Governance
1

Summary
We propose that the 1inch liquidity mining program participants will be rewarded with 50ā€™000 $OPIUM tokens from the Ecosystem Fund at the end of the month via DR.OPIUM mechanism (see details).

Rationale
1inch is a DEX aggregator that combines liquidity from major DEXes. 1inch achieves the lowest slippage by splitting orders among multiple DEXes in one transaction and bridges the liquidity if a specific trading pair lacks liquidity in all DEXes.

On Jan 29 2021 1inch team announced a liquidity mining program for ETH-OPIUM liquidity providers. Under this liquidity mining program, 0.04% (600k) of the 1INCH token total supply will be distributed among providers of liquidity to the ETH-OPIUM pool over a four-week period.

We liked the initiative and decided to propose token holders to support this initiative (via voting) as an experiment.

TODO

  • Implement live APY and $OPIUM reward tracker on Opium.Finance
  • Deploy DR.OPIUM based on Farming 1inch OPIUM-ETH LP pool events, distribute 50ā€™000 $OPIUM proportional to 1INCH rewards

Executors

  • Opium Team

Poll

Support 1inch liquidity mining with additional 50ā€™000 $OPIUM via DR.OPIUM?
  • For
  • Against

0 voters

UPDATE
Since the forum consensus on this proposal was reached we created a signalling voting to allow $OPIUM, $wOPIUM and 1inch ETH-OPIUM LP tokens holder to approve this proposal with their voting power

https://signal.opium.network/#/opiumprotocol.eth/proposal/QmeCXefHjFPLxCggqNFNmZpUrTYp9yZQKdqkogU1Wc2tK5

7 Likes
2

Thanks for posting. Iā€™m excited to join this forum and take part in this vote!

2 Likes