Proposal: PGOV Extinction Pool on DinoSwap

bZx Improvement Proposals
#4

I like the idea in principle, but $200k of PGOV for a 5 day old token with 32 million in current supply - is about 5 million PGOV at current prices.

That is to say - if this is approved it would be contributing 15% of the current supply, which is 2% of the entire max supply of 250m, for just this one purpose.

I like the idea in principle, but 5 million PGOV is just way, way too much. It’s $200k from a project with a current $1.4m market cap (yes, it will go up, and today is carnage in the markets anyway, but still).

Also, PGOV is pure farming/fair launch token. There is no token treasury (like with vBZRX on Ethereum) - where will the PGOV for this come from?

The only way this can work is if:

-The code for the current farming project is fundamentally changed to reallocate some of the farming rewards to a token treasury (so all farmers will get less)
-and then 5 million PGOV is allocated from there to DinoSwap.

The level of work involved and the amount of money involved in proportion to the PGOV market value suggests this isn’t worth it to me.

It’s a shame because I like the idea and the concept and being involved with DinoSwap. Perhaps if we can figure out a mechanism to make it work and donate a significantly smaller amount.

7 Likes
#5

Concept is cool but timing is wrong.

#6

For now its no problem…
We think PGOV will Great if Have Great Parthner Like 1INCH or BIFI

1 Like
#7

Yeah I think this will help the platform get more liquidity and exposure

1 Like
#8

Any exposure is great :slight_smile:

Also curious what BadriNat mentioned

Also, PGOV is pure farming/fair launch token. There is no token treasury (like with vBZRX on Ethereum) - where will the PGOV for this come from?

1 Like
#9

I think anything that gets us exposure to the wider DeFi farming community and more liquidity is a plus. It’s been mentioned on TG by Tom that we could do a one time extra mint of the $200k PGOV.

I am in favour of this proposal. PGOV needs to be on other platforms/farms - nobody knows about it and currently we have some of the highest APRs on Polygon. I think the timing of this is perfect to be honest.

1 Like
#10

if there is a one time extra minting. im in favor of this proposal. any exposure for pgov would be good. an another member suggested to mint more and put it in a pgov reserve for other project as wel. since it could only be once. any ideas on this?

at last: if the one-time minting should take place, im in favor of increase the capped supply by that number. in the long run we can burn it with the actual burn mechanism. (only if its a ONE-TIME minting)

1 Like
#11

one note: as badr mentioned and explained in a early post, the 200k$ might be a bit to much, is there a change we can come to an intermediate way? like 100k$ worth of pgov. let me know!

1 Like
#12

One time mint means exposure to one project like Dino, but what about rest of the projects, do we need to give 200k to every single project?

1 Like
#13

I think we have to discuss that if a project comes with a bussinesproposal, if we mint a little bit more. Then we have the change to do it, otherwise not.

1 Like
#14

I would vote for this, but would suggest the team to mint more and put it as reserves. Incase we need the same for other projects. Moreover, if we could negotiate further with the Dino would be great.

2 Likes
#15

Lets do a one time mint, with a further proposal later on to raise funds for other projects like this… Id only support this myself if it was a one time mint with a plan to burn it also, so the initial tokenomics remain as planned…

Not sure how it could work, but we could maybe have a 0.5% or less tax kind of thing on all our earnings for future funds where we need to do things like this, but again governance vote and propsals on spending of said funds?

#16

I’m in favor of this proposal as is. I agree with minting the extra tokens and raising the total supply. Future burns will offset this in the long run. As far as extra funds for other projects I think the implementing of a treasury or the like can be discussed in the near future.

#17

i think that they have to buy from market the 200k of pgov that they want

#18

Any new thoughts after the AMA?

#19

DinoSwap has been announcing some of their investors on Twitter. What do you guys think?

#20

Hashed, Defiance, DFG, and Spartan. Some of the absolute best DeFi VC’s in the space. Hope this boosts your confidence in our ecosystem.

#21

There’s still so much unclear:

What are the tokeneconomics of DINO?
What vesting schedules does the team and investors have?

Our liquidity will not increase. The current liquidity will simply move from sushiswap to dinoswap, but overall it won’t grow much. A little bit more marketing exposure, sure, that can be mutually beneficial.

Therefore I am in favor to bring our LP to Dinoswap, it increases Dinoswap TVL and increases exposure of your platform and in return you give us extra DINO tokens in the Matic-PGOV pool to further increase the APR (although we already have one of the highest in the market).

That’s the win-win I’m seeing here, but I don’t see the benefit of an extinction pool. The 2 mln usd DINO vs 200k usd PGOV (that used to be worth 600 mln before) just doesn’t convince me either.

#22

Tokenomics and vesting schedules will be shared soon (prior to launch, currently slated for early July)

On liquidity, I think you may be misunderstanding. The PGOV liquidity pair on SushiSwap will actually remain on sushiswap, and only the LP tokens will be used in the “Fossil Farms” to farm DINO. We are not a DEX ourselves, we partner/route through existing DEX’s AMM’s. The marketing exposure is a definite plus. Given the small selection of launch partners, PGOV will be front and center among the rest to a new audience. The 2M DINO vs 200k usd PGOV (estimate based on modeling) does not even account for the price appreciation of the DINO token itself, something else to consider.

All in all, we believe we will provide an exceptional service similar to PancakeSwap. They boost token liquidity by a significant amount to everyone’s benefit through incentivization (in our case, DINO). Updates will be posted here and we are looking forward to working together. Thank you all

1 Like
#23

OK, so the LP token holders can choose: They would go either to Fulcrum and farm PGOV or they would go to Dino’s Fossil Farm to farm DINO that can be used for example in the PGOV (or any other) extinction pool to farm the 200k usd worth of PGOV. Is that right?

You got me curious about the estimate based on modelling of the 2m dino vs 200k usd pgov, This suggests that you already have DINO priced in USD terms in your model, could you share that price with us?

And could you tell us already the VC price, seed price, presale or the expected first public sale price (if any)?

Looking forward to more information, thanks for keeping us updated, it sounds exciting!

Proposal: PGOV Extinction Pool on DinoSwap V2