Yield Boost for Top Supporters

Hey all, I have an idea I would like to share and hear your opinion on the matter. I will try to make the proposal as short as possible and to the point.

Idea: Reward OG holders from LBE by giving them boosted yield on MIN/ADA pool.

Motivation

Any asset’s overall value, being it an NFT or DeFi token, is heavily affected by the mindset of its holders. Trying to distribute the asset to those who value it more will result in a better outcome for the asset and hence its project. Getting LP tokens from the MIN-ADA pool is about half the cost of what it was during the LBE. This point can be used as a good metric to distinguish “hodlers/diamond hands” from normal users. Tracing the LBE meteor NFT, wallets can be checked and those who have not sold their LP tokens from LBE can be rewarded a yield boost. This will benefit both the DEX and the supporters of the project in several ways as will be discussed below.

Objectives

  1. Increase TVL/liquidity of the DEX. This is a main pillar of any DEX and no need to discuss its ramifications in this proposal.
  2. Be partially biased and try to distribute more MIN to “diamond hands/big supporters” LP’s. Giving more MIN to those who value it more will result in increasing the value of MIN as a whole.
  3. Reward DEX supporters by giving them the boosted yield (this is essentially same as point above but from the LP point of view).

Execution

The details can vary on how this can be implemented, but the main idea is one. By tracing the meteor LBE NFT, each wallet that participated in the LBE can be found. Then check the current LP tokens in MIN-ADA pool and compare it with the initial LP tokens amount from the LBE. If the LP amount is equal or more since the LBE, then that wallet can be rewarded a boost on the MIN-ADA. This boost can either be a lifetime boost or a periodic one (e.g. annually, quarterly, monthly). In order to incentive increasing the ADA TVL, there can be two options, namely, basic boost (no need to introduce any more ADA to MIN-ADA pool [wont directly increase ADA TVL]). Ultra boost (zapping ADA to MIN-ADA pool to receive a higher boost).

Summary

I know the team is working hard and already have a timeline on several tasks/upgrades. I wanted to share this one as it might result in even higher value for the DEX.

3 Likes

I think this is a good idea myself. I will have all my original LP tokens from the LBE. I also did the 135 days MINt conversion as well.

2 Likes

Same here. I think this is a good metric to tell who is in it for the long term support

1 Like

Always a good business decision to keep your early supporters engaged by seeing the project supporting them.

1 Like

back in the day these were called airdrops to your staunch supporters…