PROPOSED: IIP-106: BED:ETH Liquidity Mining on Polygon

Status: Proposed
Author: @lemonade
Discussion to: IIP-62 DPI:ETH Liquidity Mining on Polygon
Created: 15 November 2021

Simple Summary

To encourage the migration of $500k-1m of BED:ETH liquidity over to the SushiSwap Pool on the Polygon PoS Chain (formally known as MATIC).

500 INDEX rewards will be distributed over 30 days (roughly $14,000).

Abstract

Using liquidity mining to attract the initial liquidity (and volume) targets of $500k-1M will unlock the ability for BED consumers to onboard cheaply via Polygon and for BED to participate in the Dharma promotion. This proposal is for a one-off allocation of INDEX rewards to seed the pool and kick-start these integrations.

Motivation

The Polygon ecosystem allows low cost trades, transfers and other DeFi primitives. Having BED liquidity allows holders to make smaller trades without wasting money on gas. This means that DPI will become a cost effective purchase for many lower value holders.

Having reasonable liquidity on Polygon also unlocks a number of DeFi composability options: DEX liquidity mining / yield farming / use as collateral etc.

The proposed liquidity mining is planned to start in November.

Specification

To transfer 500 INDEX tokens to SUSHIswap Devs to use as liquidity mining rewards on polygon These (in the form of INDEX or the nominal equivalent in SUSHI) will be allocated to a BED:ETH on the SushiSwap pool on the Polygon PoS Chain for a period of 30 days

FOR

  • To allocate 500 INDEX as specified for liquidity mining BED:ETH on Polygon.

AGAINST

  • No liquidity rewards for Sushiswap on Polygon.
5 Likes

I am FOR this.

We are in serious need of cheaper, easier methods for customers to purchase our products. Polygon liquidity is a must and this spend seems more than reasonable. Let’s do it.

Thanks for putting this together, LA

5 Likes

@mel.eth could we please assign this an IIP number and get this vote scheduled to begin this week?

1 Like

@LemonadeAlpha -

IIP-106 is assigned. This post is still a DRAFT and you are free to make changes.

Process guidance can be found here. Given that no changes can be made once there is a call for vote, please tag any relevant inputs and finalize the proposal before making the call.

Once the text is finalized and you call for a vote, the status will be changed from DRAFT to PROPOSED and there is a 48 waiting/discussion period before the snapshot vote can be scheduled. I would recommend that you call for the vote to start on a Monday given the higher rate of quorum failure on votes that span a weekend. Any questions please drop them here or reach out directly; thanks.

2 Likes

@LemonadeAlpha any edits or can we go ahead & vote on this?
can this go live Monday if no edits were made @mel.eth ?

Per DM from @LemonadeAlpha this proposal is considered finalized and by way of this note the status is changing from DRAFT to PROPOSED per guidelines found here.

Following the 48-hour discussion period, pending no changes to the proposal, the author may call for a snapshot vote by tagging myself and @sixtykeys, and noting the preferred start-time for the 72-hour voting-period. If time is of the essence please reach out and we will coordinate.

4 Likes