GHST Liquidity Rewards on new launch - Pixelcraft / DAO collaboration

There was never a high risk of rug pull IMO @UnfitStone , since pixelcraft said it’s a well known team, they have been doxxed to them, on calls, etc.

Just to clarify again, you won’t get GHST rewards in the GHST-WETH pool, you will get DINO. The only way to farm our GHST initially is by buying their DINO token and staking it in the single asset pool. So basically:

  • Stake DINO on their platform, earn GHST (this burns DINO)
  • Stake GHST-WETH on Quickswap, earn FRENS and DINO

So the funds only go back to the LP providers in the form of DINO, which could be worth a lot or nothing at all. The GHST rewards are for DINO stakers, not GHST LPs. So yeah, biggest downside for me is that it could be a waste of funds that we could use for many other things, such as marketing, speed up development or even arguably better investments. Hell, we could even use those GHST to reward LPs ourselves (not seriously suggesting this, just saying)! Not trying to convince you though, just make sure you understand what you are voting for.

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If the farming is like this, then some sort of streaming services would be nice :sweat_smile:

Yep, thanks for clarifying :slight_smile:. Didn’t bother with the details in my post, I personally would plan to use the DINO for GHST.

The only unanswered question for me is why DinoSwap and not another project that is already running on polygon? Probably just an issue with the DAO, but we’re voting with limited information about DinoSwap. Hard to make a truly well-informed decision.

To me the vote is really if I trust that Pixelcraft has their users best interest in mind for this selection. Do I want a LP farm? Yes. Which one is the best one? No idea, but Pixelcraft is willing to help kickstart Dino for some reason, so now the question is “Do I trust Pixelcraft?” Yes, so I vote yes.

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Fair enough, and I totally understand your reasoning, although I don’t agree with it :+1:. For me it’s not as simple as “do I trust Pixelcraft?” cause if that was the case a DAO would make no sense, we would just back the team in whatever decision they make. But to answer the question, yes, I do trust the team.

The next question is, do I think they’ll always make the best decision for the project/community? They will try, but no, I don’t, cause they are not gods and sometimes they MAY arguably make a bad decision.

There was an example of this recently, I think it was a mistake postponing the snapshot for round 3 and some people in the community felt it was unfair and unprofessional, especially since in other circumstances we’ve heard the argument that something was not possible because that was not what was planned/promised. Changing schedules like that was… well, not fair.

But that’s a whole other topic, the point is that it’s our responsibility to decide whether they are doing what we think is right, or not. And I agree, due to NDAs we can’t make an informed decision, but in my case, even if Dinoswap had great things in store, it’s just an investment that I’m not comfortable with at this point in time, and more importantly, I feel there are better uses for that money right now. If you don’t, then by all means, go ahead and vote :+1:

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@kenymccornick

Thank you for taking the time for going into some points of mine! I think our discussion helps to clarify the aspects/consequences of the respective vote (at least for me).

No, I dont think that we let the treasury rot, if we dont opt for this particular partnership. It‘s just a conservative approach and thats cool too. I absolutely get your position that you consider this option as too risky/not enough rewarding. I agree, that it is risky, and I am opting for taking more risk/action.

Nonregarding a „yes“ or „no“ to this particular opportunity, we want to be exploring more options, I am very much down with that. Our DAO will evolve through such discussions.
You made a good job in helping clarify what this vote is about. :+1:

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BTW guys, whatever you decide, make sure you check these threads that explore other options somehow related:

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“what’s the difference between dinoswap and the long list of existing poly(mammal) farms?”

In short, the platforms I see now on the market are all clones with the exact same emphasis on single asset staking.
This model is unsustainable and benefits only the earliest farmers before burning out.

DinoSwap is different; instead primarily built around LP token farming which much more strongly aligns incentives.

ie Dino’s model drives more liquidity to GHST on existing DEX/AMMs (quickswap and a new pair), instead of detracting liquidity to outside farms.

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This is a great response and gave me confidence on voting yes.
There are many positives including not hurting the QS relationship, the profit potential, new frens, etc.
Above all, I think we may be overanalyzing the opportunity when the track record in partnerships is fantastic and 100k from the treasury wouldn’t make or break the game even in worst case scenario. Saying other projects may be worth looking into, ignores the work already done with the dinosaaur frens and would mean a long time now devoted to develop a deal with a “more hype/established” farm…
Rather see the time spent on H2 and reaalm TBH.
Finally, the fact that half of it would be financed by Pixelcraft says enough for me.

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When considering how you may vote for the Yay/Nay poll above… I think its entirely possible that one could vote Yes here in the thread, simply because they feel there is enough potential here to warrant furthering the process, but finally vote NO in the Snapshot Sig or Core prop votes.

So I think of this initial conversation as a temp check. If there’s enough positive response, I’ll write up the SigProp Monday. So if you’re on the fence… I’d say consider voting yes in this unofficial poll while we gather more information.

By the time this proposal makes it out of this thread’s poll… and then out of the Sig… we should have more public info starting to come out just in time for the CoreProp. If we find this proposal reaching CoreProp, we could then invite Dino team in for an AMA in our Discord before making final decisions. Hell at that point, I may even change my vote!

So all that said, if this partnership idea already doesn’t fit your vision, feel free to shoot it down for whatever your reasoning. Enjoying the process.

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This is not entirely true. Single staking was a way to bootstrap liquidity, same as Dinoswap is doing (but in a different way, i agree). Those farms are now shifting towards LP farming through their vaults, see the examples of iron finance (went from 50M to 400M since they were included in polycat’s vaults) and DFYN and how they are boosting liquidity and buy pressure.

Will Pixelcraft be in a position to reveal the DinoSwap team before the Core vote happens? How much are they investing in marketing to bring users over to their new platform?

With the 65 million DINO tokens what percentage are being distributed for farming rewards? How are the remaining tokens getting distributed?

I am voting in support of this proposal, but would like to see more of these details.

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Do not know enough about DinoSwap team, backers, lock-up period, etc., to support this proposal. This is a better discussion for post-launch / stealth mode. For now, I’d rather the Treasury LPs directly into Quick and churn quick rewards + LP fees into wETH and then deposit the wETH into Aave and churns matic rewards into more awETH.

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That works for me. A potential AMA or more info provided by DinoSwap/T(Rex) would be great before a potential Core Proposal vote. I have descended the fence to vote yes to move this to a Sig Prop with the hopes of more information before we reach the Core Proposal.

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I agree with some of the points you made actually, although I obviously disagree with others and my decision is totally different. As I have said from the beginning, I’m against partnering with any farm at all, especially at this point.

I did say why this one and not another one, for the sake of the argument, but ultimately what drives my decision to vote “no” and the thing we agree on, is that I would rather see the team focusing on marketing, the game, H2, the reaalm, etc. This same argument that you use for time, I use for money as well.

That said, if the game was fully developed, the community was experiencing an exponential growth, and in general we had all things covered, I would probably say “why not?” And honestly, 200k go a long way to hire people, so we wouldn’t have to worry about wasting time on new partnerships, marketing, baadges and what not, cause they’d have no impact on the main development.

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Not to be blunt, but you are the main guy who has been pushing for more liquidity on DEXes for GHST. We are focusing most of our energy on the game, H2, etc, but almost every day we have seen posts in the chat discussing how to get more liquidity on Quickswap. So we thought this could be an interesting approach, and a potential way to get good exposure to DinoSwap’s venture-backed base (which exists, btw).

If the DAO decides to pass on this opportunity to get in at the ground floor of an up and coming liquidity farm, then I hope we can collectively come up with some better ways to easily bootstrap liquidity for GHST on DEXes.

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Don’t worry, I appreciate blunt @coderdan :+1:. And you are right, there has been a liquidity problem, and I’ve tried to propose (arguably cheaper) solutions. However, if you keep reading my last reply, my main point at the end is that if we invest that kind of money on growing the dev team, marketing staff, social media, etc., we would still have the ability to grow our liquidity through different actions without affecting development (even speeding it up) and without taking such an arguably high risk. I get it, they are a big player and that’s basically the only convincing argument I’ve seen so far. Sorry man, it looks like I’m trying to sabotage this, but I really can’t share your approach here at this specific moment. Being blunt too :sweat_smile:

so all the quick holders are gonna sell for ETH? seems like what I’d have to do. more people selling QUICK wouldn’t damage the price? Just trying to understand…just skeptical because i’ve nvr heard of DINO. but i’m open to whatever is best for the gaang. thanks for the clarification.

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Well, I guess it depends what kind of reward people prefer, some people may prefer QUICK over DINO, or viceversa. The hope is that if DINO succeeds and becomes the big player that people expect it to be, this would attract new LPs to provide liquidity for our token. So our overall liquidity on Quickswap would grow. But you are somehow right, probably some of the existing liquidity providers may change pools and leave the QUICK-GHST and the QUICK-USDC pools for a better APY, so they will sell their QUICK or USDC for ETH. It is exactly the same pool fragmentation that could happen if we partner up with another exchange, except for the fact that the overall token liquidity stays in a single exchange (this is one of the reasons why the team thinks this is a good solution). What’s best for the gang nobody knows for sure I guess, we just have different opinions.

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This is probably my last reply (I’ll try :stuck_out_tongue_winking_eye:), cause there is very little for me left to say that I haven’t said already, and I don’t wanna repeat myself or waste anybody’s time. To sum it up, I would use resources in a different, more conservative way while still trying to fix the liquidity problem by promoting growth (without gambling) and allocating more resources to development.

That said, and for the health of this DAO, I strongly encourage you to vote yes if you believe in this new farm or even have doubts, you can always say “no” later, as @Jesse_gldnXross said. If finally this farm becomes the next pancakeswap, I don’t want you to blame me or have any regrets, it’s always a possibility and whatever decision you make you should be okay with it. I also encourage the Aavegotchi team to make a SigProp regardless of the result of the poll and announce it on discord, to make sure that everyone in the Aavegotchi community votes and that the results fairly represent their decision.

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I think you’re good. It’s hard to argue the unpopular or alternative take. I’ve definitely been there!
Thank you for all your energy and time spent on this thread, I don’t think anyone resents it.

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