Update farms: add UNI, wNXM, SWRV. Remove UMA, sUSD

[marsattack]

Summary

UMA, and sUSD generated <$1mm of volume in 24 hrs. UNI, SWRV and WNXM do much more volume. Let’s update farms? Add UNI, SWRV and WNXM vs ETH pairs. Delete UMA, sUSD pairs.

Abstract

I am creating short terms initiatives because I think we need to get our volume up ASAP, while planning and building for the long term.

Motivation

enter the motivation behind your proposal here

Specification

enter the actual specification of your proposal here

For

enter the outcome of the For side

Against

enter the outcome of the Against side

• Update
• Leave unchanged

[Graine]

I’m all for adding new tokens, but we shouldn’t delist the old ones. The LPs should have the control over their funds.

[Nicos]

Keeping Ampl might be an incentive for the Ampleforth community to motivate SLP inclusion ?

SushiSwap LP inclusion in the Ampleforth Geyser

This is a great point for sure. This type of incentivizing long term liquidity, especially in novel elastic supply tokens, is something that should be monitored and considered. Especially as TVL is becoming a massive metric in the ecosystem. IMO incentivizing long term liquidity with scaling rewards rather than penalizing early removal of liquidity (as some platforms have done with staking) is the way to go. I really do like your point of communal interoperability. This is a way to create a lon…

[Bento]

I agree on adding SWRV. In the past 24h it has done 4.8 million volume on Uniswap with only ~400k liquidity. So high bang-for-the-buck add here.

I doubt though that UNI makes any sense here…Sushiswap can’t get competitive liquidity on that so it will not drive any meaningful volume.

Pickle has a farming campaign via Uniswap so I also think it would not drive much volume to add here either.

I think adding rewards for other DeFi “blue chip” tokens like WNXM and SWRV is the move.

In terms of removing rewards, I think slashing rewards from the stablecoin pairs would be the biggest win, as I explain in this proposal: Proposal: Adjust pool rewards to maximize trading volume

[marsattack]

thanks for the data, updated the proposal replacing pickle and w/ wnxm. Even if we do not have as much UNI, I think we could have better prices at times. even if we capture 5% from an 1inch seeing our improved price, i think it’s a win.

[Bento]

Great. And interesting regarding UNI. I guess we could capture some volume from occasional better prices/arbing. The Uniswap ETH-UNI pool has ~50mill liquidity so it’d be tough to compete on slippage, but if we could capture 5% as you say could be well worth it. I just wonder if there’s lower hanging fruit? e.g., on Uniswap CREAM-ETH has 11 million in daily volume with only ~2mill liquidity.

[marsattack]

Adding CREAM to the proposal. For UNI, I think we should use our treasury to fund it, or lend our treasury tokens.

[BoringCrypto]

Totally agree we need to keep the pools fresh… Created a more general proposal to get us started with updating farms: Rotate the pools we incentivize