Hi fellow secretaries, I would like to make a suggestion in regards of SCRT rewards for LP’s on the secret network.
Before secret-swap came to life, earn was a way to attract value into Secret Network. However, I think now would be the best time to reorganize the distribution of sSCRT rewards and direct it towards LP’s minly. sUNILP-WSCRT-ETH is well set with a current 89%, I am not talking about this one, I am referring to the secret LP’s on secret-swap, such as sSCRT-sWBTC, sSCRT-sETH, sSCRT-sLINK…
The whole idea is to provide SEFI to the early supporters who actually provide liquidity from now onward, however the token is not here yet until the end of March and feels more like a blind date for anyone considering joining the pools. In fact the size of the pools, the liquidity itself, its the main driver of attraction towards the secret ecosystem, its an amazing product once is liquid enough, and liquidity will bring even more users/tokens/bags. All secretly, cheap and without front-runs, what else can you ask?
Let’s say I want to buy API3 token but it’s not on Binance and the most liquid place is on Uniswap. Then I have to withdraw the ETH from Binance for $12 ETH, then pay the usual $25-50 ETH swap fee on Uniswap.
However, SCRT has a very cheap 0.1SCRT ($0.3) withdrawal fee from Binance, and a swap of sSCRT/sAPI3 about the same ($0.3) 0.12 SCRT. Its even cheaper than BSC???
Cheap, Private, Fast, Decentralised, NoFrontrun, Multiblockchain…
That is why, how about throwing sSCRT rewards for LP’s instead of sitting IDLE on EARN? Like really incentivize LP’s with both sSCRT and SEFI. The bigger the rewards, the bigger the liquidity pool, the bigger the users, everything just snowballs the bigger it gets.
You all have a great weekend ahead!