[Neutron Rewards for NEWT MEME COIN liquidity providers over a 6-Month Period.]
[Newt Holders are in the thousand mile mark & has created an opportunity for a marketing campaign in Cosmos via Neutron, We can increase the holder amount & increase Liquidity for the neutron mascot NEWT]
Summary
We can start a 6-Month reward period for Neutron rewards when the proposal is passed & accepted by the neutron community & team. Currently, the Project is only a week old. It’s found a way to being listed on osmosis with major community support. It already has a listing on calcFinance, CoinGecko, and Coinhall. Links below
The goal of rewards is to create some more buzz & create an opportunity for believers to Supply LP without risking LP loss.
In return, creating more depth in the liquidity pool & eventually proposing a discussion on astroport for astro rewards in the meme coin pool.
We can even go a little bit farther and try leverage trading on Levana once we’ve increased the depth of liquidity. Makes sense to ask for this once we’ve maintained a good position on depth in pools
Neutron rewards would only be distributed on Astroport via Neutron.
I’m lazy, so i’ll just respond with what I said in Telegram to this:
Not sure how far out it is, but know the Astroport guys were planning to change the Newt pool to a PCL pool that’s more efficient, and vxAstro is on the way (again, not sure how far out, but it’s a way to incentivize pools). Something to think about.
If we were to incentivize it with Neutron, I’m not sure what allocation we’d be pulling the incentives from, or how much would be appropriate. Also opens the question of what, if any, other pools should be incentivized with NTRN since it would feel a little strange to only incentivize 1 pool with it, let alone a meme.
That said, I think the metrics on wallet and chain activity over the weekend speak for themselves with how a memecoin can bring attention, volume, community, etc. to a chain. Some incentives may help to keep them sticky, but you don’t want mercenary capital that will just come for high incentives to dump, then leave.
So, i’d say if we went in this direction, a fairly conservative allocation to support the chain’s first memecoin and onboarding tool would be appropriate.