Snapshot Voting is live HERE
Voting will be open from 11/11/22 - 11/14/22
Author(s): trooper
Reference: SIP-19
Created: 11/9/22
Labels: #LiquidityMining
Simple Summary
Handle.Fi, a defi FX protocol on Arbitrum, is launching a fxUSD / USDs Demeter Farm. The Demeter Genesis structure was approved via SIP-17, Handle_Fi is requesting a SPA incentive match for their fxUSD/USDs Demeter Farm.
Abstract
handle_Fi is launching a fxUSD/ USDs Demeter Farm and are planning to initially provide $4K incentives in FOREX. The passing of SIP-17 approved up to a $10k/mo SPA 1:1 match on incentives for farms paired against USDs or SPA. handleDAO is requesting the SperaxDAO match a the dollar value of FOREX token every rebalance period.
Motivation
handle_Fi is seeking liquidity for fxUSD on Arbitrum. By launching a fxUSD / USDs Demeter farm, handle.Fi will have an instant liquidity solution and also take advantage of pairing against USDs to deep liquidity and receive some matching incentives. Pairing with USDs via Demeter will benefit the Sperax community by increasing USDs TVL, improving Univ3 routing for Arbitrum token pairs, and will start a partnership between fxUSD and Sperax.
Technical Specification
Farm: fxUSD / USDs
Incentives: FOREX = equiv, 4K USD / mo
SPA match: To be rebalanced in dollar value every 2 weeks
Duration: Match guaranteed for balance of 90 days from Demeter launch unless altered via governance proposal. Demeter v2 logic will determine incentives following Demeter Genesis Campaign.
Risk Management: If the fxUSD / USDs farm goes out of price range SPA emissions will be halted until the farm is relaunched or it goes back in range.
Voting
For:
Approve SPA Rewards and Launch fxUSD / USDs Demeter Farm
Against:
Deny SPA Rewards for fxUSD/ USDs Demeter Farm
- Yes
- No
0 voters