I propose a shift of $FLX liquidity rewards from Uniswap to the Aurora and NEAR ecosystem to equally balance rewards across Uniswap (Ethereum) Ref Finance [https://ref.finance] (NEAR), and Trisolaris [https://trisolaris.io] (Aurora). In addition to shifting a portion of the monthly FLX rewards, we would also deploy FLX and USDC from the Flux DAO Treasury to provide an initial liquidity pool of $1m (FLX/USDC) in Ref Finance and Trisolaris.
Why is this beneficial for Flux?
Flux supports are a variety of significant L1 and L2 chains; however, currently, we are seeing extreme growth in applicable use cases on the Aurora and NEAR networks, with a new dev team popping up each day.
In the coming weeks, we will be kicking off initial data provision with AmberData’s range of high-quality price pairs, providing Aurora and NEAR developers with the same quality data they are accustomed to with chainlink at a lower price.
By supporting the two significant AMMs on NEAR and Aurora, we give their respective communities affordable and easy access to the growing Flux Ecosystem and token.
How will this exactly look?
Once the current month-long internal finalizes on January 9th, 2022, we would shift the rewards equally across the applicable AMMs as follows:
Total Monthly FLX Distribution - 1,250,000
- Uniswap - 416,666.66 FLX
- Ref Finance - 416,666.66 FLX
- Trisolaris - 416,666.66 FLX
During the Copper LBP, 15m FLX was allocated for public distribution; during the three-day auction period, the community purchased a total of ~6.95m FLX, leaving ~8.05m FLX that were returned to the treasury. We would propose deploying an equal pool of funds to the applicable AMMs as follows:
- Ref Finance - ~592,598 FLX / $500k USDC
- Trisolaris - ~592,598 FLX / $500k USDC
(exact FLX amount TBD based on the current market price at the time of pool deployment)
We want to hear your feedback on this proposal. On January 7th, we will be holding a signaling poll for 24 hrs in this governance post below. The poll is already open to capture the input of our community. In the future, these votes will take place on SnapShot.
- In Favor of the Proposal
- Against the proposal
Please see the Revised Liquidity Plan here Liquidity and Incentive Distribution: Revised
DISCLAIMER — NO INVESTMENT ADVICE
The Content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained in this document constitutes a solicitation, recommendation, endorsement, or offer by Open Oracle Association, the original author, or any third party service provider to buy or sell any securities or other financial instruments in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction. FLX is classified as a utility token and is the native utility token of the Flux Protocol and DAO.
Added a poll for voting
Changed the voting destination for this proposal from discord to this governance post
Added a link to the revised Liquidity Distribution Plan