GP13 DeFi Rewards (TDR) Proposal - Messina

Governance Rewards Proposals
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Considering the success and positive feedback on our previous proposal, we have kept it largely similar.

The intention is to further strengthen the appeal of liquid staking on Algorand especially with stable asset pairs, in addition to creating attractive yield opportunities for alien assets bridged to Algorand to attract new liquidity.

We continue our efforts to grow the Algorand DeFi community by engaging external communities. Token Wars created many new partnerships and exciting collaborations with new projects and this model appeared to be appreciated by the majority of the community.

It is our aim to do more similar programs, targeting an even bigger audience and other crypto narratives and categories by leveraging the Messina Bridge strategically.

With all that in mind we have created the following first draft which we believe will be a good blend of yield boosting, rewarding new users and liquidity providers, and generating exposure for Algorand.

43.09% 216,956 - Cross Chain Token Bridging, Competition, and Engagement Initiatives, Serie of programs like Token Wars, with variations to appeal to a greater and more multi chain audience (with partners Meld Gold, PACT, CompX, and others) First program on the calendar is Golden Gauntlet, an RWA themed initiative with Meld Gold.

14.90% 75,000 - mALGO / USDC LP Farm Boost, PACT, fixed sum boost of LP farm to encourage DeFi participation and trading in or out of mALGO.

1.98% 10,000 - ALGO / PEPE LP Farm Boost, PACT, fixed sum boost of LP farm to encourage PEPE traders to stake liquidity in the pool.

0.99% 5,000 - ALGO / TD LP Farm Boost, PACT, fixed sum boost of LP farm to encourage TD traders to stake liquidity in the pool.

2.97% 15,000 - mALGO / ALGO LP Farm Boost, PACT, fixed sum boost of LP farm to encourage DeFi participation among governors.

14.90% 75,000 - mALGO / USDC LP Farm Boost, Tinyman, fixed sum boost of LP farm to encourage DeFi participation and trading in or out of mALGO.

2.68% 13,500 - ALGO / PEPE LP Farm Boost, Tinyman, fixed sum boost of LP farm to encourage PEPE traders and incentivise liquidity in the pool.

0.99% 5,000 - ALGO / BOBO LP Farm Boost, Tinyman, fixed sum boost of LP farm to encourage BOBO traders and incentivise liquidity in the pool.

0.96% 4,860 - ALGO / wBNB LP Farm Boost, Tinyman, fixed sum boost of LP farm to encourage wBNB traders and incentivise liquidity in the pool.

1.60% 8,100 - mALGO / ALGO LP Farm Boost, Tinyman, fixed sum boost of LP farm to encourage DeFi participation among governors.

14,90% 75,000 - mALGO Boost - Boosting mALGO appeal.

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Copy Pasta:

We’ve become flexible with cross-chain assets over the years but it’s starting to feel like overkill.

I’ll also add that I have little confidence that these pools are being utilized by enough unique wallets and/or with a decent enough spread. Essentially enriching a number of wallets that aren’t meaningful—simply for giving us the time of day.

At the very least, the list of pools should be condensed and the amount requested should be more frugal with respect to the recent transparency report. But, TDR feedback has been mostly white noise with little action in the past from respective platforms.

I’d also like to know if these platforms are able to vote for themselves in any capacity through governance, and if this is being enforced in anyway.

It’s not unlikely they have a heavy voting weight with disregard for community sentiment in some aspects, as we’ve witnessed with one of the largest grant receivers in xGov Periods 1 to 4.

A separate argument perhaps, but I feel any holdings exceeding the average community member by 20 fold and affiliated with platforms that are consistently injected with funds should not be eligible for voting and carefully tracked. Otherwise Algorand becomes the platforms’ chain, and not the community’s chain. ~

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Enjoyed Tokenwars, but I need detail on how it is evolving please Messina.

I can’t support a proposal that allocates TDR algo to be automatically sold like it is on YakYield & CompX via auto compounding.

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I’ve been unwell, so apologies for delayed reply.

This proposal is on a fairly short turnaround especially considering the current TDR period is actually only halfway through and our first version of Token Wars ended just days ago.
We’re going to need more time than 7-10 days to finalise the full design of our next program that will likely take place no earlier than mid-late October, possibly November. So precise mechanics or distribution flows are going to be final only later. Your concern regarding the auto compounding mechanics is noted of course

Regarding evolving the program, the aim is to target multiple chains at once and address crypto narratives such as AI, DePIN, Infra, and Gaming - rather than meme coins only. The community will, as always, play a large role in voting/guiding the direction of the program. Similar to what we did originally with the Token Tournaments from which Token Wars was born. Token Wars will also become more of a overarching combination of programs, with multiple events with various more specific partners and targets. One such evolution is currently in the works, called Golden Gauntlet - which will be a shared event with Meld Gold with a heavy RWA focus.

Unfortunately, as I mentioned, the turn around is very short and cooking purposeful creative, interactive, and engaging cross chain programs, takes a little time. We do our best!

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Edit: Updated final allocation numbers.

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Here’s a project that might be of interest to you.

The article is in Japanese, so please feel free to use your browser’s translation feature.

It’s about Pendle’s yield tokenization.

In short, it involves splitting mALGO into a Principal Token and a Yield Token, thereby expanding Messina’s product offerings and increasing trading volume and fee income.

I hope this can spark some ideas.

Here is the official information on Pendle.

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Appreciate it :slight_smile: Will have a look!

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