This proposal will send 312,000 INTR tokens from treasury to the Arthswap designated address to be used for the iBTC/DOT pool on Arthswap (Astar).
We suggest launching a DOT pair as it’s a Polkadot-native asset like iBTC, which already has good liquidity on ArthSwap and should have low IL risk considering the high correlation, taking into account the community’s vote too.
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/DOT pool on Arthswap (Astar), which will also be the first step towards potentially considering iBTC as a collateral on lending/borrowing platforms such as SiO2 and Starlay on Astar.
The goal is to incentivise this pool for 3 months. We propose the transfer of 312,000 INTR tokens from the Interlay Treasury to our (Astar) designated wallet address mentioned below in order to be used as incentives for the iBTC/DOT pool.
To better support this effort and achieve considerable TVL, we will match the rewards with 2,934,000 ARSW for the same 3 month period. The Multiplier, the weight of the percentage for the ARSW farming reward distribution to the pool, will change according to the liquidity, starting with a multiplier of 1. The more liquidity is in the pool, the higher we will set the multiplier and the rewards that are contributed by ArthSwap.
Line of the multiplier
If the pool size hits X, the multiplier gets changed to Y.
X -> Y
At the first stage -> 5
50,000 -> 10
150,000 -> 30
Once the funds are transferred to the address below, they will be added as incentives to the iBTC/DOT pool.
Arthswap Designated Address: 5FTWbbfWyH1ejBHoUUUi31TRaNPA1yucsmBJ5YaJNZ2XdiCz
Requesting upgrade to referenda
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.