Author: @anastasiyabelyaeva
Date: initially published on May 21st
SUMMARY
PieDAO would like to put forward for Bankless community a proposal to participate in our liquidity Referral Rewards program.
For an initial period of one month, PieDAO would whitelist Bankless and reward the DAO for all referred liquidity to our two most incentivised pools on Sushiswap (DOUGH / ETH and PLAY / DOUGH).
BACKGROUND
PieDAO currently runs liquidity rewards on two Sushiswap pools, for which LPs are offered significant incentives:
- DOUGH / ETH - 297.49% APR at current liquidity levels & DOUGH price
- PLAY / DOUGH - 376.76% APR at current liquidity levels & DOUGH price
In addition to these incentives reserved solely for liquidity providers, we have allocated part of the budget for Affiliates who help refer liquidity to the aforementioned pools.
These rewards will be provided on a tiered bases, increasing with the amount of liquidity referred. Below you can also see the estimate of the revenues in USD terms:
Motivation
If Bankless DAO chooses to participate in this liquidity rewards program, this would generate significant extra revenue for the DAO. In turn, for PieDAO the goal of this program is to tap into new communities of users, while also increasing the depth of liquidity in our key pools, therefore making it easier for anyone to get in and out of positions with minimum slippage.
Specification
Conditions
To be eligible for Referral Rewards, the Bankless community would be expected to actively market the Sushiswap DOUGH / ETH and PLAY / DOUGH pools and their associated liquidity rewards to their audience through their main channels:
- Bankless podcast
- Bankless newsletter
- Bankless social media & social groups, incl telegram & discord
- the local channels of geo-specific Bankless communities (e.g. Bankless Russia)
Bankless as a whole would be expected to commit to at least one promotional activity per week, to be eligible for rewards in that month.
Target Date
We propose June 1st as the kick off date for the Referral Rewards, to allow sufficient time for the Bankless community to evaluate the proposal.
Next steps
Please indicate your support for the proposal in the poll below. Should the proposal be approved by the Bankless governance, we would ask for an address to whitelist for referral rewards purposes. Once the address is whitelisted, Bankless can use their Affiliation Link (eg: 0xd8dA6BF26964aF9D7eEd9e03E53415D37aA96045 ) by putting ?r=ADDRESS in the url.
It is possible to use the r parameter on every page, and the referral will be stored globally in the user browser to keep track of future visits.
Example Landing page:
https://www.piedao.org/?r=0xd8dA6BF26964aF9D7eEd9e03E53415D37aA96045
Example Link single pool: https://www.piedao.org/#/staking/play-dough?r=0xd8dA6BF26964aF9D7eEd9e03E53415D37aA96045
Conclusion
PieDAO would be thrilled to have Bankless as a referral partner, and join forces in making DeFi wealth creation accessible to anyone, regardless of their technical expertise, geo location, or financial status.
