they create a Farm where you can earn CAKE from your LP
they incentivize people to add LP
they create a Pool where you earn HOPR from CAKE
I think the last one is problematic, because it means we need to provide a specific amount of HOPR supply for CAKE holder to mine. It is probably unecessary and would constitute another vote, as you suggested.
As a result, I remove the sentence from my proposal.
Does DAI currently exist on BSC? Even if it does, I wonder how many people using BSC are familiar with it, it is a less technical crowd and they are more accustomed to Busd of Bnb as pairs. Having a new one (DAI) might scare people off?
DAI already exists on PancakeSwap. There are existing DAI-BUSD pair and others, available in the Farm with $CAKE rewards. You can trade BUSD → HOPR anyway using the PancakeSwap Router which will do BUSD → DAI → HOPR under the hood.
Crypto newbies won’t even notice it is a HOPR/DAI pair when trading BUSD to HOPR.
If we were to apply for a HOPR Farm & Pool with $CAKE reward in the future, then your comment will make sense, as newcomers will probably be more comfortable providing liquidity in BNB/HOPR or BUSD/HOPR than DAI/HOPR.
Yea, but they need to if we want them to run a node on xDai later…
Let’s not underestimate PCS users here…
Things happening in BSC is pretty wild, so you need to learn quickly to survive haha.
If we provide liquidity in HOPR/DAI, they won’t even see the difference anyway. They will just be able to buy and sell HOPR on BSC. There will be no farm and no pool, it is not what is being discussed here.
Hi. I just want to check that there isn’t an error in your proposal. Your edited comment says “EDIT: following discussions, many people seems to prefer pairing HOPR with a token more native to BSC rather than BNB.”
But then you proposed a HOPR/BNB pair anyway. It feels like either the pairing is wrong, or that BNB in the edit should have said “DAI”
How will it work? If all cryptocurrencies (ETH, BNB and HOPR) collapse, for example, by x10, will 66% of the DAO fund decrease by x10 from the current $ equivalent?
Thanks! I’ll look into why the editing function seems to be time limited. We do want to prevent edits to official proposals, but people should be able to edit previous discussion posts.
Impermanent loss doesn’t matter much for HOPR Association because they are supposed to provide liquidity as a service, kind of forever, not benefit from it.
However, if they provide liquidity in a certain pair, then there is often a liquidity providing incentive for holders to provide liquidity in that same pair. Holder care about Impermanent Loss.
The less difference in price you have between the two pairs, the better: less impermanent loss.
We expect HOPR to moon together with the rest of the market, at some point. So it is better to couple it with a strong coin that will likely appreciate too, like ETH or BNB. DAI is a stablecoin so if HOPR increases, impermanent loss will be crazy.
Hence the proposal I suggest.
It gives us the choice to provide liquidity with DAI stablecoin on HoneySwap or more volatile assets on other DEX. More variety of options to manage our risk.
Moving liquidity to HoneySwap is not a good idea. It will definitely dump the price. We will face the wall of sales from betatesters and there will be nobody to buy those tokens back. The only thing that keeps wxhopr to get dumped is expensive bridge to ETH network. We need to hold these tokens on xdai chain
We can move liquidity there as soon as we need wxhopr for nodes but not now.
Why would Genesis DAO people sell the token now when it’s at it’s all time low, and just before the fun begins? Short term I have no doubt PancakeSwap HoneySwap or CEX might be a pump and dump, but long term you gain visibility and you allow people to get on a node and use the token! That’s bullish.
Right now token is dumping without HoneySwap liquidity :/
there is no purpose of wxhopr right now. The only thing you can do with it is convert into erc-20 token or sell on honeyswap. High bridge price is holding wxhopr token holders from selling on Uniswap. Please don’t forget that they bought wxhopr at price 5c/token and they will be happy to collect their profit.
In any case, from what I understand, your reasoning goes as follows: charge people a lot so that they can’t sell.
But you also charge them when they buy, so people won’t buy too.
Look at all the DeFi tokens that you can stake and have unlimited supply, and that you can buy on cheap DEX. People could have just dump them right? Well maybe they did but the marketing + people buying the dip + passive income made them actually moon.
Hopr is dumping now because no marketing+no way to buy cheap liquidity+no usage of token yet.
Increase usage, marketing and availability, you increase value.