PTIP-10: Incentivize Uniswap LP token Pool with POOL rewards

Thanks @Brendan

  1. Create a Token Faucet

Transaction: Ethereum Transaction Hash (Txhash) Details | Etherscan

Faucet: 0x9A29401EF1856b669f55Ae5b24505b3B6fAEb370

  1. Attach the Token Faucet to the Multiple Winners strategy

Transaction: Ethereum Transaction Hash (Txhash) Details | Etherscan

  1. Replace the Chainlink VRF with the Blockhash RNG (just in case someone hits start award): call MultipleWinners.setRNGService(0xb1D89477d1b505C261bab6e73f08fA834544CD21)

Transaction: Ethereum Transaction Hash (Txhash) Details | Etherscan

Assumption: The address provided by @Brendan isnā€™t malicious and is indeed the Blockhash RNG. The contract source suggests it is.

  1. Transfer the pool to the governance Timelock address 0x42cd8312D2BCe04277dD5161832460e95b24262E.

Transaction: Ethereum Transaction Hash (Txhash) Details | Etherscan

  1. Transfer the strategy

Transaction: Ethereum Transaction Hash (Txhash) Details | Etherscan

  1. Transfer the faucet

Transaction: Ethereum Transaction Hash (Txhash) Details | Etherscan

Assumption 4-6: The governance address used is correct. Surely it is.

Once these steps are complete governance can take over and it will be safe to execute the proposal.

Great. Let me know if there is anything else I can do to help.

5 Likes

I think this is ready to go!

Now we just need:

  1. Someone with 10,000+ POOL to submit the proposal here: PoolTogether Vote basically the proposal just needs to send POOL to the token faucet to start distribution. When the proposal is executed the UI on app.pooltogether.com will be updated to show the prize pool.

  2. Would be good for @Brendan to review everything for correctness

5 Likes

Just submitted the proposal. I used the Badger proposal (PTIP-4) as a reference for the actions to take in order to transfer funds to the faucet. I removed the function calls from that proposal that I believed werenā€™t necessary.

@Brendan, would definitely appreciate a sanity check of everything. Your last pass was really helpful.

Proposal: PoolTogether Vote

Looks good to me. Good job!

2 Likes

Just wanted to loop back and say thanks to @frown for spearheading this! Itā€™s been quite successful in increasing liquidity. I look forward to continuing to make it better!

3 Likes

Weā€™ll have to look into the future of this soon.
Itā€™ll take a week to get the continuation proposal passed, so we should start researching options for V3 LP incentivization next week if thatā€™s the way we want to go.

As predicted, almost all of the V2 liquidity has stayed on V2. Letā€™s keep watching that trend.

2 Likes

I donā€™t think there is yet a good way to do LP incentives with UNI V3, so I think short term we stick to V2 and Iā€™d actually say we should probably up the rewards a bit (take some from prize pool reduction).

I definitely think we should increase it. I have been pushing for 500 /day since this was proposed and the poll seemed to support that number. See below

4 Likes

Agree. 500 per day is ideal. The math just checks out. But all that withstanding, the liquidity increase is still nice.

1 Like