Hello, I would like to propose to the DFX community a liquidity mining incentive for the TEL/DFX 50:50 pool on balancer. Link: Balancer
Currently purchasing DFX is a struggle if you would like to avoid ETH gas fees. I believe adding a liquidity mining incentive on the Polygon network would be incredibly beneficial, both for the Telcoin community and DFX community. Both teams are working together, and as we know DFX is currently available on TelX with stable coin staking. I believe this pairing would bring both communities closer together and foster mutual financial growth.
Also, I strongly believe Telcoin would be open to matching incentives, with any DFX incentives. Both communities would prosper and balancer would provide a great way to acquire DFX on the polygon network.
This pool was created by Parker from Telcoin and I just think it’s a great opportunity.
Motivation
The motivation is huge, I know many Telcoin holders who are looking for a way to buy DFX, but want to avoid ETH gas fees. Pairing DFX with Tel is the perfect opportunity to further grow both communities. Also, if the LP became viable with at least 5million in liquidity over an extended period of time, it could very likely be integrated to the future Telcoin V3.1+ app at some point, which will have access to TelX. This would bring DFX to the future masses that will be utilizing Telcoins services.
Specifications
The pool already exists, rewards could be airdropped once a week, similar to other pools. Telcoin could potentially also airdrop rewards if we get them involved as well.
For
Pros
DFX community benefits
Telcoin community benefits
Provides an easy way to acquire DFX on Polygon network
Against
Currently no other liquidity mining incentives with other pairings
@tanman Yes, my thought process is the pool already exists and is ready on balancer, and telcoin already has millions of assets in Liquidity Pools on balancer. Final reason being if the pool became liquid enough, 5m plus in assets over and extended period of time, it could be viable for integration into the upcoming Telcoin app. Which will be an exchange that offers affordable remittances with on/off fiat ramps all over the world. It will be distributed by Telecoms and mobile money operators. So the potential, future trade volume could be huge.
Thanks @TheBigSur. I am fully supportive of the plan to have a 50:50 DFX/TEL pool
But I think sushiswap provides additional sushi rewards for providing liquidity on their platform. So someone more knowledgeable on AMM rewards should help finalize the platform to use for this pool (balancer vs uniswap vs sushiswap)
Purchasing DFX on POlygon is easy and has low fees. Why would you buy it on ETH??? Just use Sushiswap on Polygon or 1Inch on polygon… address is 0xe7804d91dfcde7f776c90043e03eaa6df87e6395
Yes my proposal is for polygon. This balancer pool is on polygon now and it’s where telcoin already has millions in liquidity. My idea is to further grow both communities together.
Just use Sushiswap on Polygon or 1Inch on polygon… address is 0xe7804d91dfcde7f776c90043e03eaa6df87e6395