Hey Everyone StellaSwap here, with our first contribution to Interlay governance!
This proposal will send INTR tokens from treasury to the Stellaswap designated address to be used for the iBTC/GLMR pool on Stellaswap (Moonbeam).
As iBTC has recently launched, It is important to provide and enable more use cases for users issuing iBTC as well as increase iBTC liquidity to unlock potential use cases on other parachains.
A first step towards this is the iBTC / GLMR pool on Stellaswap (Moonbeam), which will also double as the first step towards potentially considering iBTC as a collateral on lending/borrowing platforms such as Moonwell.
The goal is to incentivise this pool for 3 months. There are incentives already prepared for the first 15 days of the pool but extend this to 3 months, we propose the transfer of 400k INTR tokens from the Interlay Treasury to our (StellaSwap) designated wallet address mentioned below in order to be used as incentives for the iBTC/GLMR pool.
Once the funds are received to the address below, they will be added as incentives to the iBTC/GLMR pool.
StellaSwap Designated Address: 0x4300e09284e3bB4d9044DdAB31EfAF5f3301DABa
Requesting upgrade to referenda
To ensure that the incentives arrive within the 15 days from the pool launch, we request that this proposal be instantly promoted to a public referendum by the TC.
Once upgraded to a referendum there will be 7 days of voting. If successful, the referendum will execute and the funds will be transferred to the above mentioned address.
As much as I like the moonbeam platform, and the professionalism of the team that made it; the token is highly volatile and not the same grade as BTC.
As discussed on discord, it is far more suitable to pair iBTC with something more stable such as DOT.
DOT has a marketcap of over 8 billion, compared to GLMR's 0.2. As such, I think it's a bad fit.
I agree, I think iBTC/DOT is a better fit because DOT is or will be a blue chip that's more stable.
But generally, I wish that the INTR/KINT treasury were being directly deposited as LP to these pairs. Instead of only paying out rewards and that is exhausted, instead treasury deposits LP to receive an additional income stream to pay out to vKINT/vINTR holders.
Totally agree with guys above, we need some more stable and less inflation asset in pair. Voted 30K tokens Nay. Lets save these rewards for iBTC/DOT.
I think DOT is better choice.
More important, We shoul have more usecases for INTR, otherwise, the price of ITNR will going down and down.
Voted 1.4K Nay, this is not the way.