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INTR incentives on DEXes
1mo ago
2 Comments

Hi there!

This post is related latest iBTC pool at https://voting.opensquare.io/space/interlay/proposal/QmRnD1yeP3PgVqDRUWpv7HPxTmD93WD66PfhD5xWbbdwAG, as well as https://interlay.subsquare.io/democracy/referendum/18 and others.

At current market situation (entire market dip, Nomad crash, aUSD crash etc) i actually don't find strategic reasons for rewarding users at doubtful DEXes in pair with doubtful tokens. Finally, most of times users only get negative experience and lose money, as well as INTR dump under additional selling pressure.

I stongly considering we firstly need long-term marketing strategy. Here are few points i have about it:

  • INTR rewards should be very small and greedy)
  • the only DEX where people should be available to exchange INTR tokens should be Interlay frontend, and the only pair available there should be iBTC/INTR.
  • the pairs we should pick up to reward at other DEXes should be very stable and heavy. For now these are only DOT and native USDT.
  • some portion of saved INTR tokens from no-sense rewarding might be spent for better marketing, to make community better understand why iBTC is better then any centrilized brigde; some web-pages, videos etc with incidents of 9-figured amounts of hacks of other bridges

Your thoughts guys?

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You definitely listed some good points. The problem is though that we need liquidity on pretty much every chain to go on with other integrations such as borrowing/lending and for that we need decent liquidity on that chain so we can't be too so cheap with the incentives. This is true at least for the most important pairs, e.g. the ones that will serve as a venue for liquidations.

Where I agree is that we should be more careful in selecting the tokens we want to pair iBTC with. You are probably right that the best tokens to pair with are DOT, native USDT and INTR. However, the views on which token is a good candidate to pair with iBTC varies and there are some people who say they want LDOT/iBTC because they don't want to miss out on the staking rewards, so I think we should not disregard those people but maybe should be more cautious with the incentives for those pairs in the future.

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1mo ago

This is excellent feedback.
As you may have observed, all of the decision-making re. integrations, pools, and incentives have been shifted to the community - so every Interlay stakeholder can participate and share their thoughts about what they think makes the most sense.

re. using treasury for education purposes, please check out the proposal for the innovator program - I think it does exactly that :) https://interlay.subsquare.io/democracy/proposal/21

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