Proposal to create a V1 xSauce/Stickbug Yield farm

Proposal
1

Title: Proposal to create a V1 xSauce/Stickbug Yield farm
Author(s): Stickbug, Postmaster, and the Stickbug community
SaucerSwap Voting Interface: n/a
Related Discussions: (RFC - Proposal to create a V1 Sauce/Stickbug Yield farm)
Submission Date: 10/16/24

  • Summary:

We propose creating a V1 xSauce/Stickbug Yield Farm. We currently have one of the higher liquidity amounts of community native tokens with over 40,000$ in liquidity and much of that locked. Having a liquidity pool would help growth and community engagement. Additionally we plan to expand on to other networks like BASE and SOL and only reward users who come to Hedera with staking and yield farms. Thereby this would be an incentive for users to come to hedera. We peruse a 0.30% farm that would take from +/- DAO and from LCX/HBAR, QNT/HBAR, WAVAX/HBAR, HBAR/HST.

  • Motivation:

Stickbug loves SaucerSwap, it is the leading DEX on Hedera and we believe that Hedera will be a leading token in the future. While we want to expand to other networks, it is only to show new users the light - Hedera, Hashpack, Saucerswap. Stickbug has maintained a strong community and impressive growth. We have partnered with big names. Some other details:

  • We have over 40,000$ in liquidity currently, with a majority locked >7 months.
  • We have partnered with Karate combat with a licensing agreement to create NFTs for fighters to help fund them giving them over 60% of all proceeds.
  • We plan to stay primarily on Hedera but plan to go cross chain in order to find new users - will give rewards to users like staking and farming on Saucerswap as an incentive to come to Hedera.
  • Postmaster is a Karate Combat IFC fighter and doxed cofounder.
  • We are currently working with big names such as Keith Berry, Bitboy, Loudmouth, and JChains to bring more exposure to Hedera, Hashpack, and SaucerSwap.

Creating this farm would further incentivize users and help to reward community’s commitment.

  • Specification & Rationale:

Increased Liquidity and Stability: Creating a yield farm will attract more liquidity providers to the xSauce/Stickbug yield farm improving its liquidity and stability. This will reduce volatility and allow for Stickbug to be a more attractive long-term investment. A 0.30% farm that would take from +/- DAO and from LCX/HBAR, QNT/HBAR, WAVAX/HBAR, HBAR/HST. Our xSauce/Stickbug pool currently has about 73,000$ USD worth of token in it, with about 100,000$ of volume this month. This is expected to grow as more users enter the pool.

Community Engagement: This adjustment will reward Stickbug’s core community, acknowledging their commitment and offering extra incentives for ongoing engagement, injecting more energy into the ecosystem. It will also serve as an attractive reason for Stickbug holders to move to Hedera network.

  • Benefits (Pros):

Enhanced Liquidity: Improved trading conditions, reduced slippage, and encouragement of long-term investment in xSauce/Stickbug pool.
Stronger Community Engagement: Increased involvement and enthusiasm from the Stickbug community, fostering a more vibrant and active user base
Crosschain Switching: This would incentivize our BASE and SOL users to come to Hedera.

Reduced Farm Weight for Other Pools: The redistribution may decrease incentives for other pools, potentially impacting their liquidity.

  • Voting:
    • For: To allow Stickbug to have a Yield Farm for the xSauce/Stickbug pool.
    • Against: No Farm

We hope that the SaucerSwap community votes in favor of this farm to enhance Stickbug’s growth, impact, and ability to bring new users to Hedera.

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