SushiSwap Liquidity Mining Program

🚀 Proposals
#1

Summary: After the success of our Uniswap liquidity mining program, Pillar should establish new pools on other DEXs in order to increase market liquidity and token distribution. SushiSwap presents the most natural choice from a technical integration and project alignment perspective.

Motivation: Increasing the general availability of PLR will help it to gain market attention and traction. SushiSwap has an extremely active community and places a strong emphasis on community participation and rewards. They align well with Pillar culturally and their user base is familiar with community governance. Pillar can increase our market liquidity and expose PLR to new users that are already culturally aligned with our goals of offering a community owned and governed wallet.

Approach: Shift all or some percentage of our current liquidity mining program to rewarding SushiSwap PLR LP token staking via the Pillar Rewards Program dashboard.

7 Likes
#2

Sushi is very synergistic with Pillar. :clap:

#3

I love the idea of a SushiSwap LM program!!! Thank you!!! :sushi: :sushi: :sushi:

#4

I approve it, but we still need some CEX for volume to attract more traders to provide additional liquidity

5 Likes
#5

:slightly_smiling_face: hope liquidity of the token really go up

1 Like
#6

yes, we really need some big CEX

3 Likes
#7

Interested in getting PLR on a liquidity pool exchange that offers single-side liquidity pooling like Bancor. Locking ETH along with PLR is an obstacle and that’s what uniswap currently requires. If people only have to stake/lock PLR it’s a lot better. Hopefully single side liquidity is goal for Uniswap v3, v4 etc too.

1 Like
#8

Sounds good go go go no need to wait

1 Like
#9

In September 2020, through the soft vote in the Governors’ House, we’ve decided to set the weekly rewards amount at 50k PLR. It’s probably a good occasion to reassess this number.

With the new liquidity pool opening - do we want to increase/decrease/keep this amount? Do we prefer to split it between Uniswap and SushiSwap or establish a separate pool of rewards for the latter?

1 Like
#10

If we pull Uniswap incentives, it could leave a bad taste in liquidity providers mouths as they have to eat fees to chase the same incentives. Plus, it probably won’t sit very well with passive uniswap providers who don’t get the memo and check in a few months from now to find incentives slashed.
I’d say either match Uniswap or start smaller (25k), then evaluate and increase if a success. Easier to go fwd that backwards.

8 Likes
#11

Should there be a total rewards pool for all dexs (could be weighted by exchange) or an amount designated for each exchange?
I prefer the former but with PLR bonuses for launching on a new dex.

1 Like
#12

If Sushi Swap is a reliable LM Programm then do it. It is always good to have more than one option.

#13

I propose to vote this week for this topic and start the machine

1 Like
#14

Yes, I would like to fill that LP. Go for it, asap!

3 Likes
#15

Great to see so much support for this proposal! Let’s move things forward. The Pillar Foundation will be opening a liquidity pool on SushiSwap in the next few days and the community has decided to encourage further liquidity through a liquidity mining (LM) program.

Currently, the Pillar DAO has allocated 50K PLR / month in rewards for Uniswap LM rewards. Liquidity mining programs can definitely create ongoing sell pressure, so it’s important that we are thoughtful about how many tokens to allocate on an ongoing basis. As such, I recommend a reduction of Uniswap LM rewards and re-allocation of some/all/more of those tokens to the SushiSwap LM rewards program.

Here are some options:

Option A: Reduce Uniswap LM Rewards to 0 and allocate all 50K to SushiSwap LM Rewards
Option B: Reduce Uniswap LM Rewards by half (25K) and allocate 25K to SushiSwap LM Rewards
Option C: Reduce Uniswap LM Rewards by half (25K) and allocate 50K to SushiSwap LM Rewards

Please vote for the option that you think is best:

SushiSwap Liquidity Mining Rewards Allocation

  • Option A: Reduce Uniswap LM Rewards to 0 and allocate all 50K to SushiSwap

  • Option B: Reduce Uniswap LM Rewards by half (25K) and allocate half 25K to SushiSwap

  • Option C: Reduce Uniswap LM Rewards by half (25K) and allocate 50K to SushiSwap

0 voters

This is just a soft poll to gauge sentiment before certifying the vote on chain. These are not the only options, but I believe they are the most reasonable. Please feel free to share other ideas if you feel that other options should be considered. Personally, I believe that C is the best option for us right now.

Thanks!

2 Likes
#16

disappointed there’s no option to leave Uniswap rewards as-is and add a scaling reward to Sushiswap, but half to each is the best of the options.

1 Like
#17

Looks like the idea is to transition the LP to sushi. Assuming that’s the trend, Vote C to expedite the transition.

1 Like
#18

Vote C :muscle: hope to see this very soon

1 Like
#19

Separate pool please
:sunglasses: :sushi:

#20

I would’ve liked to have voted leave Uniswap the same and add 50k to Sushi.