Referral Rewards Program from PieDAO

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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 is whitelisting a limited number of partners with strong reputation and large & engaged communities to act as Affiliates, referring liquidity to our two most incentivised pools on Sushiswap (DOUGH / ETH and PLAY / DOUGH) for a share of rewards, allocated in a tiered way based on the amount of liquidity referred.

The goal of this program for PieDAO 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.

Rewards

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:

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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.

Implementation & Next Steps

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

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Hello! Thanks so much for making this post, PieDAO’s proposal is the first from outside the community :slight_smile:

One thing I want to confirm:

  • Bankless podcast
  • Bankless newsletter
  • Bankless social media & social groups, incl telegram & discord
  • the local channels of geo-specific Bankless communities (e.g. Bankless Russia)

BanklessDAO can only promote on DAO-based media. We have no control over Bankless LLC and what RSA/David produce. It’s possible we can work with them to promote your LM program, but no such guarantee.

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As a representative of the Bankless LLC media node, I can say we will support this execution of this proposal for the community! We are happy to put together a promotion plan that spans Bankless LLC podcast, newsletter, and socials for this initiative.

Can conduct more planning for this in discord.

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I would be very excited to see this partnership between PieDAO and Bankless. I have been engaging with PieDAO for a few months and I have been incredibly impressed by the team and the community.

I am a fan of the Bankless Podcast and I have great respect for the content that comes out on Youtube and over audio.

I think it would be beneficial for both parties to showcase the diversification and yielding products offered by PieDAO to the intelligent and engaged Bankless community.

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FYI - I’ve added this project to the DAO’s Initiatives and Projects page. I made a new initiative under the the On-chain Cash Flow theme called “Referrals” and put this project under that. Please feel free to make any adjustments you’d like, or let me know and I can make them for you.

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I think this is a no brainer. But there is no poll???

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I’m totally for this partnership.

Quick question, I’m already a $PLAY / $ETH supplier, I would like my position to be taken into account, would this be automatic or would I need to make some LP steps again ? Would my APR be impacted ?

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@anastasiyabelyaeva
Would you mind editing your post or reposting using this template:

Please include a poll at the end :slight_smile:

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This is cool – it’s nice to see what this community is attempting to achieve. Getting 1 billion people onboarded is a big task and seeing the game plan come together is great

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Thanks a lot for the template! Couldn’t edit so prepared a separate post - but it looks like I might not have permissions to post polls. Could one of the admins enable it for me? :slightly_smiling_face:

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Hm, weird. If you click the gears icon in the formatting bar, you should have the option to Build a Poll. If not, make the post and I’ll add it in. Just tag me! Thank you :slight_smile:

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For everyone following this thread, the new reformatted proposal with a poll has been added here! Referral Rewards Program from PieDAO (WITH POLL)

1 Like