dHEDGE, a decentralised asset management protocol, is considering an incentivised pool on Balancer, see https://medium.com/dhedge-org/dht-incentives-mainnet-and-beyond-52a59fcd1e19. We have seen huge community interest and just like mStable performed a Mesa Auction for our initial distribution.
We would like to propose an incentivised pool on Balancer in a partnership with mStable. Liquidity providers will be able to share 50,000 DHT per week. Our proposal is a 50/50 mUSD/DHT pool where users can earn BAL, DHT and MTA. We would like to propose to the mStable community to sponsor this pool with 20k MTA per week for at least 10 weeks. The dHEDGE DAO would provide the initial liquidity for both mUSD and DHT.
Both mStable and dHEDGE have growing DeFi communities that are excited about exploring the possibilities of decentralisation - we believe this will strengthen both communities and bring them closer. We like to open up this for a discussion.
- Yes, create the shared pool
- No, do not create the shared pool
Hey Radik- awesome proposal. I like what you are doing at dHedge
We want mUSD to be a liquid pair with new and good quality DeFi tokens. The proposal also fits into our current EARN product so will be trivial to implement. I think this could also be a good way to intiate dHedge/Synthetix users to mUSD and the mStable ecosystem - will be great to have this exposure before any possible sUSD/sBTC integration.
I think the only open question is size of MTA amount and the min time period of 10 weeks. I have seen community members suggest 10k MTA. I’m still thinking what makes sense here, but I’m in principle for this.
Radek, I really hope you and the rest of the team will for once take into account what your community is asking for. You received DOZENS of messages in the discord for a 95/5 pool DHT/stable coin and here you are proposing a 50/50…
The liquidity mining should be skewed toward people that actually TOOK RISK for you by buying the mesa auction! You should reward your early supporters and not stablecoins whales. You have an occasion to regain the support of the whole community which is now deep underwater since yesterday.
So PLEASE, i urge you to listen to us. Create an other pool with ther 95/5 option. You will see by yourself. A project as great as it is go nowhere without a solid community backing it.
In addition to the original proposal, there is an additional question we would like the community’s feedback on.
If this proposal is successful and proceeds onward, how much MTA should sponsor this liquidity mining pool?
- 20,000 MTA
- 15,000 MTA
- 10,000 MTA
How about the 20k MTA for this program be vested for a period ? and also lower the amount to 10k MTA .
Simply put it is a really bad idea because it dilutes the value of MTA to increase the value of DHT
If this is going to be implemented this will only decrease the value of MTA how does this increase the value of the project?
This dilutes the value of MTA and mstable. I don’t like this idea.
How about ask dHEDGE sponsor their DHT for our exist earn pool such as mUSD/MTA (5/95 or 95/5) pool, that give our communities also could earn BAL, DHT and MTA.
- improve mUSD liquidity
- more incentive to both pool (mUSD/DHT, mUSD/MTA )
- distribute MTA token outside our communities , raise the opportunity that outside communities to know what is mSTABLE ( Once you got the token , you start to learn about the project , airdrop effect)
100% agreed with franck
This pool should reward those got burned in the MESA auction. A 50/50 pool makes no sense.
If there are liquidity issues, the team should provide a separate 50/50 pool without rewards with funds from the auction.
There should only be a pool skewed with heavy DHT weighting, i.e. a minimum of 80/20 DHT/USD, but ideally weighting above 90, i.e. 90/10, 95/5, etc.
I don’t believe this is a good idea for mstable. It’s not clear to me what goal this achieves. Doing this is just totally wasting MTA and will certainly have a detrimental effect on the price. I see potentially why you are in favor - it would increase the supply of mUSD but this is only going to be temporary for as long as you are distributing the MTA rewards. People will just farm and dump for the 10 weeks and at the end of it we’ll be back to where we started but with a lower MTA price.
With 200k MTA over 10 weeks, why not put that to use by giving grants to devs in the community to build things on mstable?
Maybe could also add a lock up / vested over months on the MTA rewards from this pool to prevent dumping which could incentivise the right behaviours intended
I would suggest that there is no minimum amount of weeks these incentives need to remain if this program goes ahead. 10 weeks is a long time in 2020 crypto-land and mStable should reserve the right to cancel at any point and move on if the outcomes are simply not there, or for any other reason.
As it stands in their own ecosystem they are tweaking the pools and rewards almost weekly.
I would suggest that we do a 2 week trial with 15k rewards each week.
At the end of the two weeks, we can re-evalulate here whether it was a success.
I think being a liquidity pair with respectable, new defi tokens gives great utility/awareness to mUSD so should come up with something to at least test whether this kind of earn pool makes sense.
Interested in your thoughts.
I have few things to say, so here we go:
First of all, why would you propose this here(on MTA forum) where its about DHT? You are a team member of DHT, DHT token holders and community should decide if we want to have a 50/50 pool with DHT rewards. So this discussion has to be first made internally with the DHT community and not here.
if you want to create 50/50 pool, just bootstrap it on uniswap put some of those funds you collected on MESA and it will be better because more people use uniswap anyway.
create 98/2 pool DHT/USD for staking of DHT and put the DHT reward there - this is the least you can do after the fiasco sale on mesa and the dumpster fire that was the listing on okex/huobi
lock seed/private sale investors for longer - price needs to recover without diluting the supply first.
execute your roadmap.
you have plenty of famous investors who are very active on twitter… however i see NONE of them bringing any awareness to dhedge after the sale finished. Poke them to start talking about the project wtf?
I like the idea of increasing mUSD utility by incentivizing trading pairs on DEXs but I do have some reservations with this specific proposal.
If this does go ahead, it needs to be 10k MTA or less a week with a strict 2 week trial period. If the liquidity/volumes are poor after the 2 week trial period, then the payment of MTA should cease.
dHEDGE appreciate everyone’s support and comments on the mUSD/DHT Balancer pool idea. On the dHEDGE side, the community voted for a Uniswap pool instead which was just deployed by the dHEDGE DAO. Hopefully there are mutually beneficial opportunities in the future between mStable and dHEDGE!
ok thanks for proposing looking forward to possible future collaboration