Hello all and welcome to the first Weekly MIN Farm Allocation post!
Today, we are posting the proposed Farm rebalancing following deep discussions held on Sunday within the Kitty Farmer Committee. Kitty Farmers voted on a new re-allocation with a great majority of 24/26 in favor of the new allocation to be presented below. We want the greater Minswap community to be informed of these changes, and add suggestions as well, and we definitely will value and consider feedback from everyone in this post below, so please weigh in!
Current Allocation of Points:
- Lion Farm: MIN/ADA — 50 points.
- Tiger Farms: PAVIA/ADA, LQ/ADA, MELD/ADA, WMT/ADA, DANA/ADA — 7 points.
- Cat Farm: CNETA/ADA — 5.5 points.
- Kitty Farms: AADA/ADA, CLAP/ADA, VYFI/ADA — 3 points.
- Dog Farm: HOSKY/ADA — 0.5 points.
Proposed and passed Rebalance of Points:
Lion Farm: MIN/ADA — 52.069 points.
- DANA/ADA — 8 points
- LQ/ADA, MELD/ADA, WMT/ADA — 7 points
- PAVIA/ADA — 6 points
Cat Farm: CNETA/ADA — 5 points.
Kitty Farms: AADA/ADA, CLAP/ADA, VYFI/ADA — 2.5 points.
Dog Farm: HOSKY/ADA — 0.431 points.
Kitty farmers argued that the MIN/ADA pool should be prioritized in terms of APR, as it is the riskiest pool and we should look to reward the holders of Minswap’s governance token the most.
It was also discussed that the DANA allocation ought to be increased. Ardana aims to be a hub for all stablecoin trading. As such, just like we have seen with Curve on Ethereum, the native token DANA will play a very significant role in the Cardano DeFi ecosystem (please bear in mind Ardana is a stablepool DEX and as such there likely will not be DANA pool trading on it). Thus, Minswap aims to become the place where to best trade DANA, and we aim at scaling this DANA liquidity. Plus, the Ardana team and community have deposited a lot of trust in the Minswap DEX, by providing around 15mn worth of ADA in liquidity, making it the biggest non-MIN pool and 2x bigger than the third biggest pool. We feel the need to reward this trust, as it might encourage other projects to do the same as well.
To do this, it was agreed upon, to lower points from the PAVIA and CNETA pairs, as the group considered their APRs were pretty high for both these projects.
The group also considered lowering points in the Kitty Farms from 3 to 2.5, as those farms have very high APRs in comparison to others, and we are spending more MIN to attract liquidity to these pools than on others. Plus, there is an overall low trading volume for now in these pairs which we believe not to be organic and be driven mainly by the MIN Farming program. Thus, we rather reduce these points gradually and allocate it to the MIN farm.
Lastly, the group unanimously agreed to reduce the points in the HOSKY pool by 0.069 points to 0.431 points, arguing we should re-allocate more emisisons to the MIN pool gradually.
Course of Action
This new allocation will come into effect on [Redacted]. The aim is to rebalance the farms bi-weekly and have larger discussions within the Kitty Farmer Committee monthly.
We look forward to considering the feedback and thoughts from everyone, in the poll and comments below, with a view to the next weeks in terms of the points of the farms and the allocation methodology. We know this current method is flawed, in that it is very subjective. In the following weeks, we will work on methods to include quantivative data as well in the points of the farms, but for now, we think this rebalance makes sense.
In the following weeks, we will also use the Forum to discuss the opening of new farms and further incentive initiatives.
This is our first time doing this, so please contribute!
- Cool, let’s move on with this new allocation
- Let’s keep the older one/look at my comment below I have a better approach