Since the tokens have already been minted, in order to reduce the max supply from 538M to 330M, we will be routing the excess PNG after 4 years to a burn address, therefore “burning” the excess and reducing the max supply.
I forget to say that I fully support the proposal. Just want to add that maybe it would be more stable growth if we can change the half of the PNG to AVAX. If not then we have to make Pangolin a new Binance of DEXes in order to be competent with other conservative communities and DEXes. MHO.
PS. I am never sure of my ideas. I just say what I feel.
So in some calculations we’ve done internally, Trader Joe is emitting over 2 million USD worth of JOE tokens daily. While personally I believe that’s unsustainable, it does mean they can attract a lot of the mercenary capital. Pangolin as a point of comparison emits close to half a million USD a day. While this is a lot more sustainable, it does represent a risk of losing TVL.
So when we talk about being competitive, it’s about offering good APR’s to our Liquidity Providers in a sustainable and attractive way.
We obviously can’t and won’t be competitive for all market pairs. I’d prefer us to focus on blue chips and our universal guidelines already implicitly shows this strategy by requiring a token to be well established to qualify for PNG rewards.
In terms of our objective, I can only comment on myself and for me, it’s about Pangolin being a cornerstone of DeFi on Avalanche in the medium (2 - 4 years) and long term (4 years plus). To do that we have to be self sufficient. We’re a community project, so we need to be able to cover our operating expenditure and then earn a lot of revenue which we can divert back to our token holders. To do this we need to maximise revenue, while also diversifying revenue streams. So swap fee’s are a huge revenue source. We will also get a revenue source from our working capital used for our CEX listings. This is a very healthy start. However we still have a lot of work to do to improve this.
LP User experience is critical. We currently have a new UI being worked on and is one of the key focuses. Here’s a very early draft
Exactly. Me as PNG/AVAX LP, I feel very bad with almost 50% IL. I love Pangolin, but hate $PNG right now. I`m staking this pair for about 4 months, wanted to support one of my fav project, using it exclusively as dex on avax. BUT I will continue to stacking this PNGs, hopefully one day I will be able to say it was worth it I believe in Pangolin team
I experience and feel the same. Currently staking in Pangolin app looks like a “scam”. You stake and loose. It shouldn`t be like that. If you want to support the platform you should be rewarded not punished. I hope we will find the solution. I also will continue to staking. But as I said, the current prices are supporting trading not hodling. If there is no hodling then there will not be dexes. MHO.
Personally, I was compounding rewards back into PNG/AVAX pool, so I cant participate because my sources are in that pool mostly. And i dont want to withdraw. You should use some funds from Avalanche Rush to reward PNG/AVAX pair, maybe also other PNG pairs. That would make sense imo