Hi everyone, I’m writing on behalf of DinoSwap as a core contributor. DinoSwap is an upcoming cross chain farming/DEX aggregator launching on Polygon. This is our second proposal with a decreased request for PGOV per the feedback on the original proposal.
We are requesting $100k USD worth of PGOV and in exchange we will incentivize a farm on our platform that will distribute at a 0.5x rewards multiplier or an estimated $1,000,000 worth of DINO distributed to PGOV LPs based on our models. This does not account for price discovery of DINO which we expect will be positive. To achieve a 1.0x multiplier, $200k USD worth of PGOV was requested, but not approved.
Check us out here: https://twitter.com/DinoSwapHQ
We are on-boarding high quality projects to be our launch partners. Huge appetite for yield (even in a bear market) and we will be a tier-1 farming platform on Polygon with multiple audits already done.
I’m aware that there is continued interest in building additional liquidity on Polygon and that’s what we’re all about through our unique LP token farms and single asset staking via our DINO token.
We wanted to propose $100,000 USD worth of PGOV tokens to be contributed strictly as rewards into the “Extinction Pools” on DinoSwap. DinoSwap is not a DEX or AMM itself, it actually routes trades through QuickSwap and SushiSwap on Polygon. DinoSwap aims to become the PancakeSwap of Polygon (and abroad).
One unique feature about DinoSwap is the 100% toll-bridge (DINO token burn) within the extinction pools - for which we’re requesting $100,000 USD worth of PGOV in rewards. All stakers must agree to burn 100% of their DINO in exchange for a fair distribution of PGOV tokens. This creates deflation to the supply of DINO (without facilitating a sell, as it is actually a swap) and encourages users to compound their yield by liquidity mining with more PGOV tokens. This mechanism is how we will be able to achieve extremely high APY on our farms & pools.
For the $100,000 in PGOV tokens provided to our extinction pool, we will be providing approximately $1,000,000 in Dino rewards over a 3 month period to PGOV-XXX LPs. Farmers of PGOV- XXX will receive DINO tokens just by staking their PGOV-XXX LP tokens (from SushiSwap or DinoSwap) into the DinoSwap platform. We are confident in the value-add for the bZx network in terms of bootstrapping liquidity and raising awareness. If there are any questions, please do not hesitate to ask.