This is a proposal for INTR tokens to be used as incentives on StellaSwap’s INTR-DOT pool, in conjunction with the 1 million DOT incentive that Stellaswap was recently awarded via Polkadot Governance. If accepted, this incentive program would run for three months, with the possibility of renewal if the Interlay community would like.
Check out the referendum on Stellaswap's DOT grant here
And read the proposal in detail here
Stellaswap is the leading dex on Moonbeam, capturing the majority of on-chain volume. We have a Uniswap v3-style concentrated liquidity dex (running on the Algebra engine) which constitutes a unique offering on Polkadot. Our capital efficiency is many times higher than a standard dex, allowing much larger trades to be made on the same TVL without compromising on slippage. We generally have a utilization rate 20-100% on most of our pools, while a standard dex is going to be more like 5%.
Our dex calculates swap fees automatically - no need for LPs to guess what fee tier to use. And we've got an integration with Gamma to provide automated liquidity management on many of our top pools, which if this passes could include INTR.
Note that as of this writing Gamma support is only available for one pool, but will be integrated in all of our largest pools by the time we receive our DOT incentives, in about two weeks.
Simply put, Moonbeam is where most of the users in the Polkadot ecosystem are. It's often where they arrive first from the EVM world, and Stellaswap is the biggest dex on Moonbeam. A healthy INTR pool on Stella will get the Interlay brand in front of more users, and will hopefully lead to conversions among new Polkadot users.
With Stellaswap on track to receive significant DOT incentives there will be more attention than usual, and this is a great opportunity to push for a higher profile for Interlay.
Something we've done in the past, if you look at our pools page specifically at iBTC and CFG, we put links to those project pages right on the pool. For users new to the Polkadot space, who are learning about parachains for the first time looking at our list of incentivized pools, we want folks clicking that link and getting excited as they learn more. And we would do this for the INTR-DOT pool as well.
Note - Stella and DOT incentive numbers are from the Polkadot Governance Proposal linked in the Abstract, and reflect a 12 month period. The INTR numbers are for a 3 month term, that could be renewed.
Note also that the projected TVL in the Polkadot proposal did not account for any INTR rewards.
Finally, the suggested token quantity has been suggested by Stellaswap. Based on community feedback to this proposal the number or the duration could always be adjusted.
Target TVL (again, based on DOT + Stella incentives only) - $1,000,000
Note that this level of TVL would allow for significantly less slippage than an equivalent TVL on a non-concentrated dex.
| Asset | Amount | Period |
|---|---|---|
| DOT | 10000 | 12 Months |
| Stella | 245562 | 12 Months |
| INTR | 305810 | 3 Months |
| Asset | Amount | Period |
|---|---|---|
| INTR | 156250 | 3 Months |
After three months the INTR incentives could be renewed at Interlay Governance's discretion.
We look forward to working more closely with Interlay moving forward, and we're excited to involve INTR in this unprecedented incentive program from Polkadot. Please don't hesitate to share your thoughts in this forum, or to head over to Stellaswap's discord channel to ask questions. You can find Stellaswap at https://app.stellaswap.com/exchange/swap
Our Wallet Address: 0x4300e09284e3bB4d9044DdAB31EfAF5f3301DABa
(If a substrate wallet address is required, please let us know and one can be provided)
Interlay already supports iBTC by providing vault rewards with INTR. There is no revenue for Interlay at the moment for doing that. Therefore we can not support giving funds to stellaswap again.
Edited
I don't think incentivising this makes any sense. We have good liquidity for iBTC and INTR on HydraDX for which we don't have to pay anything or even generate trading fees.
Also the fact that Interlay incentives in USD amount are 4x of what Stella provides makes me feel like INTR holders are mainly paying for this without getting any benefits like trading fees which will go to LPs and Stellaswap. We have also seen liquidity drying out as soon as incentives stop so this seems very unsustainable.
Love Stella, but will prefer to see the report with results of previous batch before voting for...
Why we vote for 3 month only, why not to create an annuanal plan with qurarter checkpoints in TVL or smth?
Why not to pay even little bit rewards for Interlay lenders, especially for iBTC borrowers who are not able to repay iBTC for normal price for week because of iBTC "depeg" arised from bridge capacity?
Support