[RFC-18] Blue Chip Liquidity Program

We want to create more liquidity for POP as well as incentivize users with alternative, highly liquid rewards that by virtue of rewarding can pull in other ecosystems and expand Popcorn’s. Thus, we want to buy $100K worth of the following:

  • WBTC (Ethereum)
  • ETH (Ethereum)
  • MATIC (Polygon)
  • OP (Optimism)
  • WBNB (BSC)
  • WETH (Arbitrum)

Link to previous DAO discussions:
[PIP-2] Liquidity Optimization and Use of Treasury Funds

[PIP-14] Treasury Management Next Steps

Main Objective:

  1. Increase liquidity
  • Current POP pairs are POP/USDT on MEXC and POP/USDC on Uniswap Optimism
  • Adding these DEX pairs will
    • Increase liquidity and decrease slippage on DEXs
    • Enable users to LP or swap using different chains
    • Enable users to LP or swap using difference blue chip assets
    • Enable users to earn rewards in POP and highly liquid blue chip assets
  1. Expand ecosystem
  • By providing lucrative LP opportunities, we expect token holders from other ecosystems to engage Popcorn and continue to grow our community
  1. Capital efficiency
  • Similar to [PIP-2] and [PIP-14] treasury funds should be used efficiently to further Popcorn’s growth or economic position. By deploying capital to create and incentivize these pairs, treasury funds will accomplish both by boosting KPIs of POP token (DEX pairs, volume, liquidity, etc)

Contracts/Technical Requirements:
Developer teams will need to create pairs on Uniswap (Ethereum, Polygon, Arbitrum, and Optimism) and Sushiswap (BSC) pools for the pairs. Additionally, the Popcorn app will need to add products to seamlessly enable users to deposit assets to LP and receive rewards.

Organizational/Partnership Requirements:
Non-developer teams will need to purchase the blue chips assets to add liquidity to POP pairs. Additionally, non-developer teams should outreach to respective token ecosystems to promote collaboration to promote the initiative.

Next Steps:

  1. Swap $100K of treasury funds to blue chip assets
  2. Developer teams deploy pools and create LP functionality on app
  3. Promote the initiative and accrue TVL in pairs

Blockchain Stats

  • Ethereum
    • Protocols: 644
    • TVL: $39.35B
  • Binance Smart Chain (BSC)
    • Protocols: 526
    • TVL: $4.99B
  • Polygon
    • Protocols: 360
    • TVL: $1.17B
  • Arbitrum
    • Protocols: 164
    • TVL: $1.16B
  • Optimism
    • Protocols: 99
    • TVL: $640.62M

Token Stats

  • WBTC
    • Market Cap: $3,073,663,421
    • DEX Volume: $62,448,520
  • ETH
    • Market Cap: $147,865,524,084
    • DEX Volume: $23,704,229
    • Market Cap: $6,998,301,107
    • DEX Volume: $1,294,622
  • OP
    • Market Cap: $219,477,096
    • DEX Volume: $2,702,722
  • WBNB
    • Market Cap: $909,174,572
    • DEX Volume: $36,609,518
  • WETH
    • DEX Volume: $440,958,603
1 Like

Nice proposal. Is it $100k total or $100k of each of the 6 you listed?

Alternatively, should we prioritise according to ecosystems offering additional incentives, eg Optimism and Velo: Our Optimistic Future. Velodrome is a decentralized exchange… | by Velodrome (🚴,🚴) | Medium

And also look at others with potential significant growth (eg Arbitrum - web $ARB token?!)

Definitely support partnership outreach with similarly aligned projects eg Radiant Capital (DeFi protocol & money market on Arb and soon BSC) Stargate Finance

And - long term - should we aim to be first DeFi protocol to launch on XEN’s L1 when it launches early 24?

1 Like

I’d align creating more liquidity once we’ve launched the first cohort of vaults.

1 Like