We are currently sitting in at $869k liquidity (13,207 pWING, 239 ETH) with a recent average of $100k daily volume and $389 daily tx fees. Liquidity providers currently get a 227% SUSHI APY from staking your pWING-ETH SLP tokens on SushiSwap’s Onsen and a 275% WING APY from staking at liquidity.wing.finance.
The more WING is locked up in liquidity mining, the lower the circulating supply of WING and the higher liquidity for users to swap in and out of WING. It would be a good idea to continue incentivize locking up more WING through new pairs on more DEXes.
We propose two new WING pairs for liquidity mining.
Pair 1) pWING-pONT on SushiSwap
- By choosing pONT as the second token pair after pWING-ETH, we can encourage the growth of the Ontology ecosystem, and draw more people to Ontology Wing where they can save on gas fees and participate on the high speed network.
- We can set up order routing on SushiSwap to use pWING as a hop. Since no other pONT pair exists on SushiSwap, this would mean that any orders from any Ethereum token into pONT would be routed through WING. Ex: DAI -> ETH -> pWING -> pONT. This way, the pWING-ETH LP is utilized more often and LPs earn even more from fees.
Pair 2) WING-ONTd on Unifi’s uTrade
- Since uTrade is on Ontology, a liquidity mining incentive for the WING-ONTd pair would ensure that your yield won’t get eaten up by high gas fees. Additionally, it’ll be easier to swap between WING and ONTd on-chain with high liquidity and low slippage without needing to switch over to the Ethereum network.
Rewarding the token allocation to set, we initially propose to allocate an additional 10k WING from the remaining unallocated WING. Or, the current rewards pool from the extension of the pWING-ETH liquidity mining program can be split across the three pairs.