[PLP#0003] Initial Farming Strategy

Dear Lucidao community,

You ask, We listen!

After receiving several requests regarding the possibility to launch LCD yield farms, I’m proposing the launch of a LCD/FTM farm on SushiSwap.

Let’s see how this could impact Lucidao protocol:

  • The main goal is to provide more liquidity to FTM/LCD pair on SushiSwap and therefore allow the distribution of more LCD utility tokens, through farming rewards within our growing community.
  • As the liquidity grows, outsiders, institutional contributors, and Oracles willing to gain voting power, will be able to purchase higher amounts of LCD tokens from the market without suffering from high slippage.
  • A growing liquidity will contribute to the DeFi ecosystem’s confidence in Lucidao and will help Lucidao scale faster.
  • Last but not least, protocols built on Fantom can apply to Fantom Incentive Program based on their time-weighted average TVL. Farms are surely the fastest way to reach Fantom Foundation requirements.

REWARDS:

In order to achieve this goal I’m proposing to allocate 2.5% of the total supply (22M LCD), coming from Governance’s allocation (66% of total supply sitting in DAO vault) - this will allow us to provide the rewards for Liquidity Providers participating in LCD/FTM pool.

TIMING:

The above allocation would be distributed as a reward over a year (365days).



The team will always keep an eye to other protocols in order to provide the best farming experience to Lucidao community.

Please interact here below by adding comments, ideas and show your general feeling about the PLP by using the poll.

  • For: Initial Farming strategy
  • Against

0 voters

3 Likes

I strongly think this is what Lucidao needs to scale even faster and boost its community base!

5 Likes

That’s a mandatory step for growing and I will support it.
I hope we can move also to other Fantom DEXs like, for example, SpiritSwap

3 Likes