We wanted to post here our plans for distribution of GP10 TDR. We have been very happy to receive 424K ALGO for distribution and have various farms we are looking to incentivize.
I would love to hear everyone’s thoughts.
You can read here: Humble DeFi: Gov Period #10 Rewards (Q1 2024) | by Andrew | HumbleDeFi | Jan, 2024 | Medium
although the amount is really small i wanna add a general comment: dont see any real value in incentivizing single sided staking especially for a DEX when the funds could be used to incentivize liquidity instead
Its a fair point. I’ve gone back and forth on the value of it as both it doesn’t contribute to liquidity or even help with our TVL. I view it as a marketing tool & token of appreciation to the COOP holders both for winning a poll we held and for being a fun proactive community. We did choose to keep it under 1% of our rewards (2.5kA of 424kA) but will definitely keep this feedback in mind for future periods.
i can see the marketing aspect of it
I think humble is doing a killer job with the little ammounts they get each period.
While i might be biased as COSG did get a nice chunk - i would also like to point out, we’ve participated in each period, always having skin in the game(matching, or exceeding what was offered to us) even if the allocation wasn’t greatest - so we do appreciate the reciprocity.
I think coop play is smart, as it increases the TVL on the dex, which can hopefully lead to bigger total ALGO allocation next period.
A small joke: i strongly suggest you guys create hAlgo/algo LP pool → guaranteed to shoot your TVL through the roof before next period.
I have to agree with @lobo on this, personally I don’t really see the point in single side staking, so much so that I would probably just do a contest under marketing for COOP holders if that’s your predicament, I believe that could drive up more engagement than this. Other than that I think this plan fits within the parameters of TDR, thanks for posting it!
Is there any strategy to market towards outside the Algorand ecosystem? I haven’t seen anything from any DeFi proposals except for Folks medium post for a contest.