I am doing some outreach for WISE token and very interested in exploring the creation of liquidity mining pairs for WISE on the Pangolin Exchange. I will comment three relevant links on this post as I cannot link more than two times in it. WISE token is a decentralised finance protocol and cryptocurrency which is designed to be a highly secure store of value that can be easily staked to earn trustless interest. Like bonds, certificates of deposit, and time deposit bank accounts, longer and bigger stakes provide higher yields. This is our website https://wisetoken.net
I think WISE pairs would be a perfect fit for rewarding growth and engagement on Pangolin, we are the fifth largest liquidity pool on Uniswap with $235,373,724 on the WISE-ETH pair and recently listed on Quickswap which is the Matic Network equivalent of Pangolin and have over 4.5 million dollars’ worth of liquidity on there in just a weeks’ time!
We have also had a WISE liquidity mining pair added on Viperswap today which is the Harmony Protocol equivalent of Pangolin you can view the announcement here https://twitter.com/VenomDAO/status/1381599203210752005
WISE is ideal for liquidity mining as it is the worlds leading decentralised staking platform with 88% of WISE tokens on the market being locked up in stakes for an average of 864 days. This means that if all non-staked WISE were to be sold the price would only fall 20%.
There is also the fact that our massive liquidity pool on Uniswap which contains over 57,000 ETH entails that WISE is backed by ETH. This means that those providing liquidity on WISE pairs have significantly less risk of impermanent loss than on existing Pangolin pairs, this presents a great opportunity for liquidity mining as we are so close to our price floor which will not be the case forever. Having experienced first-hand a large impermanent loss supplying liquidity on Pangolin (albeit with only a small amount of capital) I know how significant this is.
I propose the creation of the following pairs:
The current APY on the AVAX-ETH liquidity mining pair is 64%, I therefore propose the following breakdown for WISE liquidity mining pair rewards.
AVAX-WISE 64% APY so it is level with the most liquid AVAX pair on the exchange.
PNG-WISE 80% APY as it makes sense to further incentivise providing liquidity for Pangolin’s governance token and it carries more risk for liquidity providers.
ETH-WISE 40% APY as it is extremely low risk since when ETH goes down WISE goes down with it meaning that it largely negates impermanent loss as it stays level with it. This would likely be the most liquid pair due to this, however its safe rewards would allow for more risky liquidity providing for higher APY in the other pools with the gains.
So, to surmise the reasons why the creation of WISE liquidity pairs on Pangolin would be beneficial:
- The vast majority of current WISE users have experience with decentralised exchanges.
- WISE has a track record of having large liquidity pools on decentralised exchanges.
- The closeness of WISE to its price floor reduces the risk of impermanent loss for liquidity providers significantly.
- The creation of these pairs would lead to our current WISE users buying PNG and AVAX in order to participate in the liquidity pools.
I look forward to feedback on this proposal and hope that something can worked out!