Community-minted NFTs as Loyalty Badge for Liquidity Providers

I would like to propose that we give NFTs as a badge of loyalty based on how long a wallet has been providing Liquidity. We can attach utility to the NFT, such as reward bonuses and transaction fee discounts, to these badges when they can be found in the user’s wallet. The longer you provide liquidity, the better your NFTs are (increasing Levels/Ranks). The NFTs can also have an expiration to prevent abuse (and you get a new one anyway when you level up). Artwork can be taken from the existing Yeild Farm point system with a number to show Level/Rank (indicative of how long you have provided liquidity to that Yield Farm). This would encourage LP providers to stake longer (continuously) compared to other DEXes. What do you think?

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Excelente ideia!!! Hope the team can implement this!!

Great idea!

Our plan initially was to involve a bit more what is called “GameFi” and this definitely fits this idea!

I like this idea a lot, so imagine, you have to Yield Farm with the same wallet in the 5 different farms for at least one month. Then you would get the NFTs of those animals. Once you have all 5 you could burn em maybe and get a special one that unlocks some feature :slight_smile:

GameFi is really interesting concept! But gonna take a while till we can start exploring hehe

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Yeah. Maybe combined to a Sabre Tooth? LOL

I’m hoping for a vertical (stacking/compounded) on the same Yield Farm to encourage long-term liquidity providing. This could be displayed using an evolving or growing mascott. E.g. starting out as a baby lion to an adult with battle scars. Numbers are simpler to implement though and will cost less to implement. If there’s a budget for an artist or a community-sourced artwork then it would be great.

I didn’t think of a horizontal merging of the NFTs since I have limited funds. :stuck_out_tongue:

Please apply the NFT mechanics used in LBE where the NFT is attached to the wallet address and is not transferrable. This will prevent people from just buying their way to a higher-tier badge.

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Really really cool idea! There is a really interesting solana protocol working on aDeFi aggregator and GameFi aggregator (and game itself) with NFTs with utility called Dappio. If you guys decide to explore GameFi, it might be nice to hear their thoughts.

As for this specific idea, I love any and all ideas related to encouraging more permanent liquidity (the LBE POL concept was great!). Leveling up, burning multiple NFTs to a better utility NFT, all great ideas. My only suggestion would be for thr NFT to be wallet specific so that someone can’t just go out and buy the NFT and utility without actually having provided liquidity for a while.

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Great suggestions, thank you!

Heard of Dappio a lot hehe I see you like em from the pfp :wink:

Would be interesting to explore the GameFi idea further and no doubt we will do it :smile:

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Lol yes I am a dappio OG :laughing: if you ever want to connect with that team and need a contact let me know! They are quite busy trying to roll up new beta updates to the DeFi aggregator.

GameFi has thr potential to be huge, I hope you guys decide to fall down that rabbit hole as well lol

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I find the idea with the bound NFT as an additional incentive to provide longer-term liquidity interesting and also support that they are more rewarded than short-term providers.
However, one thing would be important to me to consider, because at the moment the DAPP’s are “only” to connect with hot Wallets. However, as soon as it is possible with cold Wallets (for example Ledger) i will no longer work with the hot Wallets.
That means it would be nice if the bound NFT would be transferable in a way.