Money is the best marketing.
Awesome and thank you for sharing this impressive proposal, which aims to significantly advance the Secret DeFi ecosystem. Given the increasing prominence of both DeFi and Web 3.0, I would like to propose an idea that combines these two domains:
Create a DeFi/Web 3.0 innovation hub: To further stimulate the development and adoption of DeFi and Web 3.0 projects within the Secret ecosystem, consider establishing a dedicated innovation hub. This hub would serve as a collaborative space for developers, entrepreneurs, and industry experts to share ideas, resources, and expertise in both DeFi and Web 3.0 technologies.
By fostering an environment that nurtures the development and growth of DeFi and Web 3.0 projects, the innovation hub could play a crucial role in expanding the Secret ecosystem and positioning it as a leader in the decentralized finance space. This approach would complement the existing 6-month incentive program and contribute to the long-term success and adoption of Secret DeFi and Web 3.0 technologies.
Now that the first rewards have gone live can the community get insight into the transactions that made that possible. Blizzard and Shade have both received SCRT to their pools directly or was there an escrow involved?
Would also like to see if the 3:1 ratio is being ensured and at what price that is counted.
For sure. We approved Shade’s and Blizzard’s proposals and rewards are now live. I think it’s best if both teams (@Carter-Woetzel & @thenodefather) share the final version showing the pool spread and the amounts?
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Currently there are five pools:
- SILK/USDT (60 SHD per day, ~338 vSCRT per day)
- SILK/USDC (60 SHD per day, ~338 vSCRT per day)
- SILK/stkd-SCRT (40 SHD per day, ~223 vSCRT per day)
- sSCRT/stkd-SCRT (36.25 SHD per day, ~202 vSCRT per day)
- stkd-SCRT/SHD (25 SHD per day, ~139 vSCRT per day)
The current spread is 61% SHD to 39% SCRT USD split. During the initial bonus period of Surge, we are in the 2x reward phase in terms of pool match so for every $3 of rewards an app brings $2 of rewards are coming from SCRT.
$2 of SCRT rewards / $5 total rewards = 40% of rewards should be from SCRT
$3 of SHD rewards / $5 total rewards = 60% of rewards should be from SHD.
So as of right now, the spread is only off by 1% where SHD is actually paying more than it should. A 1% spread seems like a very comfortable & reasonable spread. I’m suprised that spread has actually held that close, goes to show how correlated SHD & SCRT are.
