StableXSwap QUSD pools and KUN liquidity mining & Trading incentives

Community Development
#1

Hello! We are StableXSwap, a stablecoin-focused swap on BSC. We've been in talks with David and the Qian Protocol team for a long time now and are big fans of the work that you all have done in building this ecosystem.

We previously discussed some liquidity mining rewards for users to come and deposit QUSD into stable pools on StableXSwap
https://forum.qian.finance/t/next-round-of-liquidity-mining-parameter-setting-proposals-to-be-discussed/166/2?u=stablexswapdev

As most recently stated, the rewards would be:

So the new proposed LP mining rewards for StableXSwap trading pairs:

  • QUSD/BUSD, QUSD/USDT : each pair 888 KUN/day, for 14 days
  • QUSD/USDC, QUSD/DAI : each pair 388 KUN/day, for 14 days

Our new swap has now also been audited, https://medium.com/stablexswap/stablexswap-completes-smart-contract-audit-review-with-attic-lab-general-contract-updates-2b6d2e09c0c4, so we think it is safe to also request that there can be some higher rewards since we have invested more time into making sure that this venue is a secure venue for users to park their funds into, but we will allow the community to decide how we can do this. Perhaps we can start with the proposed rates of deposits first, and adjust according for additional rewards in the future.

Instead, I would also like to encourage trading volume for QUSD, and provide some joint STAX and KUN trading competition rewards for the traders who participate in trading QUSD:
Key metrics would be

  1. increasing number of active addresses of QUSD on StableXSwap
  2. increasing overall volume, which will boost rewards for users who provide QUSD as liquidity

We propose putting together a reward of up to $1000 of rewards paid in STAX as the initial trading competition rewards, based total trading volume generated by QUSD pairs.

We will put up a $100 reward for every 1M traded on StableXSwap, which will be given out in a lucky draw, with a user's probability of winning proportionate to their trading volume.
If we see $1M in trading volume, the prize would only be $100, but
if we see $10M in trading volume for QUSD over the first two weeks of the pools inception, we would put up $1000 STAX in rewards. $1000 in STAX would the the upper limit for now, with room for future promotions and more prizes if volume gets bigger!

We would love to have some KUN rewards to go along side this promotion as well, so we are aligned in getting as much volume and usage of QUSD on BSC as possible.

Again, we would love to talk more to the community and hear the best way to work together.

StableXSwap <3's QUSD

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#2
#3

Would love to see QUSD on StableXSwap

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#4

I like the StableXSwap QUSD pools and KUN liquidity mining & Trading incentives. As a member of the QIAN community , I am very happy to see the achievements that QIAN has made.

The above plan mentioned that the newly proposed LP mining reward for the StableXSwap trading pair:
QUSD/BUSD, QUSD/USDT : each pair 888 KUN/day, for 14 days
QUSD/USDC, QUSD/DAI : each pair 388 KUN/day, for 14 days

StableXSwap will put up a $100 reward for every 1M traded on StableXSwap, which will be given out in a lucky draw, with a user's probability of winning proportionate to their trading volume.

There are few following suggestions for you. In order to attract more users can participate by increasing the mining rewards . I think it is better to up the reward to 500$.

Suggestions:
LP mining rewards for StableXSwap trading pairs:
QUSD/BUSD, QUSD/USDT : each pair 888 KUN/day, for 14 days
QUSD/USDC, QUSD/DAI : each pair 388 KUN/day, for 14 days

Up the reward to $500 for every 1M traded on StableXSwap, which will be given out in a lucky draw, with a user's probability of winning proportionate to their trading volume.

Hope all of us can continue to promote the development of the QIAN Protocol.

#5

Nam, you ahve some good points. Unfortunately, StableXSwap only has a 0.06% trading fee, with 0.012% going to LPs, so if we were to give out $500 for every $1M traded, we would effectively have a negative trading fee, which would mean that LPs are incentivised to artificially trade $10M, and the volume wouldn't mean much.

However, I think we would be happy to up our rewards to $150 for every 1M traded on StableXSwap (which represents 25% of the trading fee), and raise the upper limit up to $30M total (maximum $4500 budget).
This means we will increase our STAX rewards paid, but hopefully incentivise more participation.

Based on the current KUN price of 40 cents (https://pancakeswap.info/pair/0xf647a246075d525b8d4e4d810312144ca592c9b7), I would also suggest 800 KUN daily rewards for QUSD trading rewards under the same model: proportionately shared to the users based on trading volume, for 14 days.

This would be a total of 800*14 = 11200 KUN total for the trading activities, worth $4500 in KUN, to go long with the maximum $4500 STAX budget).
What do you guys think? :slight_smile:

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