Hola Algorand! We are honoured with Targeted DeFi Rewards this time.
And we have a master plan which we want to discuss with you. Please tune in!
Rewards are going to:
- help small projects to get more stable liquidity
- increase META token stable TVL
- stimulate bridging tokens from other chains and attract new users to Algorand
- deepen liquidity for wrapped assets and RWAs
Project TVL < $10k
We’ll announce the period, when projects with small liquidity may apply for TRD and create a pool.
After the period, we’ll split the rewards between the eligible pools. To be eligible, a project has to fit the criteria. The exact one to be stated before the start, the draft version is:
- token is created at least a week ago
- TVL > $1k
- active Twitter
Projects will have a choice of tokens to pair into liquidity. From the stable assets which are listed below.
Deep META
We’ve been building deep liquidity for META, pairing with different assets, to make token as robust as possible.
Also pairing with wrapped tokens to be less dependent from ALGO.
We’ll incentivize META pools in pair with: ALGO, USDC, gALGO, GOLD$, WETH, goBTC, COOP.
Degen acquisition
We have planned a few promo campaigns using bridged tokens like BOBO and DEGEN.
To attract users from other blockchains and make them create Algorand wallet.
To stay on Algorand after claiming the bait rewards degens need a reason, another bait.
We’ll create staking and farming pools with DEGEN, BOBO and others allocating big reward amounts so that APRs would be sweet and degen just couldn’t leave the page.
Of course, this will also encourage Algorand people to just bridge those tokens to Algorand, which is actually also good.
Wrap-wrap
Wrapped assets still don’t have many LP pairs and this should be improved. We’ll incentivize the pools paired with tokens listed above.
It is actually the least impactful section, because rewards will go to users who would most likely stake and without additional reward. Still, this section deserves allocation, because those tokens are really important for the ecosystem.
Distribution
- 30% for small TVLs
- 30% for META pools (split evenly between the pools)
- 20% for degen promo pools
- 20% for wrapped and RWA pools
Conclusion
Cometa has its own area of responsibility, which includes helping projects grow and improving overall liquidity across the board.
So, we shouldn’t incentivize many already popular tokens; it’s wasteful. We’d be better off using non-trivial ideas to bring much more value. We believe our proposal achieves this vision.
What do you think about our plans and our vision? Please share any thoughts!