Discoin Proposal for MIN Farm
As Minswap continues to grow as a decentralized exchange on Cardano, Discoin presents an opportunity for collaboration and mutual growth. Discoin’s unique value proposition and alignment with Cardano’s decentralized ethos make it an exciting candidate for a MIN Farm.
Discoin is a community currency for Neo Miami. Created by members of the DISCO SOLARIS community, Discoin empowers Disco Solaris NFT holders to earn rewards, participate in governance, and spend $DISCO within the Neo Miami economy. A great example of this can be seen at the Silk Toad. More details can be found here.
Discoin enables governance, community project funding, participation in the Neo Miami ecosystem, and is the token that Silk Toad has been built to consume. The token’s distribution, governance structure, and rewards program are detailed and transparent.
Benefits of a MIN Farm for Discoin
- Enhanced Liquidity: A MIN Farm for Discoin will enhance liquidity, foster community engagement, and align with Minswap’s objectives.
- Incentives & Collaboration: Alongside MIN, Discoin will add its own token as incentives (Double Farm), and will also be doubling from the 5 million we are currently offering to 10 million Discoin per month.
- Circulating Supply & Tokenomics: Discoin’s circulating supply and tokenomics can be found here. The addition of Discoin rewards for the farm is in line with the tokenomics.
- Trading & Volume: Discoin currently has over 250k ADA TVL, consistently maintaining well over the required 100k mark for months, fulfilling the criteria for a MIN + Project token Farm. Discoin has been trading on Minswap since last October and has over 1M Ada trading Volume.
In summary, Discoin, with its fresh and extensive tokenomic structure, represents an innovative addition to Minswap. By enabling a MIN Farm, both Minswap and the Discoin community stand to benefit. The farm’s alignment with Minswap’s criteria, coupled with Discoin’s unique value proposition and commitment to doubling incentives (as per tokenomics), makes this collaboration an exciting opportunity.
Should Discoin have a MIN Farm?
- Yes, in favor.
- No, do not add this Farm.
This would actually be for MIN + ADA + DISCO rewards and trading fees. (4x)
Its important to note, that although you may be required to hold some minimum amount of discoin in some instances to participate in governance, discoin itself is not a governance token. The discoin ecosystemm in NeoMiami is governed by the individuals who hold the original 5777 disco solaris NFTs. There are currently about 1875 holders of the original 5777 disco solaris NFTs.
Discoin itself, was created through the fractionalization of the Charles0007 NFT in the original collection. Therefore, there are 5776, the 5777 was fractionalized and airdropped to the other 5776 equally and fairly, as a fungible token, discoin. The funds that comprise “NeoMiami” were also distributed at that time, into a treasury fund, a discatalyst fund, and a liquidity providers fund. These are all held in community multisigs (through summon) and there are 21 different signers on the 4 wallets. See Discoin - Discoin for details and tokenomics.
The Discoin rewards disbursement here comes from the Liquidity Providers Fund. There are 10 signers on this wallet with a 6 signer threshold to send the transaction. Right now, providers earn 166,666.66 discoin perday.
In September, Liquidity providers will earn 10M discoin per month or 333,333.32 per day. We would like to add MIN and ADA rewards and trading fees to the farm. This is 100% a community coin and obviously these incentives are essential to encourage folks to provide this service for the community.
(Clarification and Additional Information):
I’m making this edit to address some questions that have come in through Discord and to offer further clarity on the proposal. Please note that the core of the proposal remains unchanged, and this edit is not intended to alter the original content in a way that affects the ongoing vote. Here’s the additional information:
Rewards and Trading Fees: The proposal would include MIN + ADA + DISCO rewards and trading fees (4x).
Governance Structure: Discoin itself is not a governance token. The Discoin ecosystem in Neo Miami is governed by the individuals who hold the original 5777 disco solaris NFTs, with approximately 1875 holders of these NFTs.
Creation of Discoin: Discoin was created through the fractionalization of the Charles0007 NFT in the original collection. The details of fractionalization, distribution, and funds allocation to various community funds can be found in the Discoin documentation.
Discoin Rewards Disbursement: The Discoin rewards disbursement comes from the Liquidity Providers Fund, governed by multisig with 10 signers and a 6 signer threshold. The daily reward rates and the planned increase in September are outlined, and the intention to add MIN and ADA rewards and trading fees to the farm is emphasized.
Community Involvement: This proposal is centered on community needs and incentives, seeking to provide essential encouragement for community participation.