PoolTogether

DinoSwap "Extinction Pool" $POOL Trial

Hi everyone, I’m writing on behalf of DinoSwap as a core contributor. DinoSwap is an upcoming farming/dex aggregator launching on Polygon. I’m aware that there is interest in building liquidity on Polygon and that’s what we’re all about through our unique LP token farms and single asset staking via our DINO token.

Wanted to propose $250k USD worth of POOL tokens to be contributed strictly as rewards into the “Extinction Pools” on DinoSwap. DinoSwap is not a DEX or AMM itself, it actually routes through SushiSwap (Polygon) and Quickswap. So there is no need to seed additional POOL into the farms, which actually serve liquidity providers on Sushi by allowing them to farm DINO with their SUSHI-POOL LP tokens, for example. DinoSwap aims to become the PancakeSwap of Polygon (and abroad). We cannot disclose our launch partners and collaborators just yet but it is a strong list of reputable projects.

One unique feature about DinoSwap is the 100% toll-bridge (DINO token burn) within the extinction pools - for which we’re requesting 250K USD worth of POOL in rewards. All stakers must agree to burn 100% of their DINO in exchange for a fair distribution of POOL tokens. This creates deflation to the supply of DINO (without facilitating a sell, as it is actually a swap) and encourages users to compound their yield by liquidity mining with more POOL tokens. This mechanism is how we will be able to achieve extremely high APY on our farms & pools.

Wanted to gauge interest and get feedback before I make a formal PTIP. Please let me know what facts,figures, etc you would like to know for this to make sense. We are confident in the value-add for Pooltogether in terms of encouraging liquidity and co-marketing.

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Bump!

Simply put, with this proposal farmers will be able to farm DINO by depositing their SUSHI-POOL LP tokens to DinoSwap, and stake their DINO for POOL.

And said differently, a unique feature about DinoSwap is the 100% toll-bridge (a complete DINO token burn) within the extinction pools. Users can stake their DINO rewards in extinction pools, which enables single asset staking of DINO tokens to earn project reward tokens (POOL tokens in this case).
The burn mechanism is a deflationary mechanism to control the right balance of emissions /supply of DINO. Staking DINO in the extinction pool acts as a token swap, encouraging users to compound interesting leading APY by liquidity mining with more POOL tokens.

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Hi there Ross, we mentioned this briefly today in our community call. Although you haven’t had any direct feedback here yet there was some interest in exploring this further. We might need to find you a community member (who has worked on a similar project with Badger) to help you work out the details. @TheRealTuna might be interested?

Not sure how much help I could be as I haven’t dabbled in Polygon at all yet but I’d be curious to learn more about Dinoswap and what the benefits would be to Pooltogether. I gotta try out Polygon asap.

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We will be targeting approx 300% APY in emissions based on our series B valuation of 45m, assuming there is about $6m in liquidity. However, if DinoSwap valuation goes up, and I’m quite certain it will, the APY increases from there. For example, if the valuation is $135m, the APY will be 900% on the farm. The multiplier will be locked in for 90 days.

is there any website we can go check out? i couldnt find anything. or any documentation anywhere besides github? i’m not good at navigating that site.

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Is this similar to how Vesper Finance operates? I’m not well versed on how vesper works in detail, but I know it has an incentive mechanism with depositors to yield high APY. Can you explain the similarities and/or differences? And also, can you link all resources where we can find out more information about how Dino is going to work to make it easier for us to review the proposal?