SIP-19: fxUSD / USDs Demeter Farm Incentive Request

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

start

November 11, 2022

9:30 PM

end

November 14, 2022

9:30 PM

Voting

off-chain

Voting type

single-choice

Voters

2,906

Votes

97,189,217

Final Votes

closed

Yes

97.2M veSPA

99.98%

20K veSPA

0.02%

item label

Placeholder title of a dao proposal

DAO name

0x000000000000

Mon 00, 2024 00:00

About Voters Analytics

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Voting

100,000

Voting type

100,000

Starts in

100,000

Voters

1,000,000

Votes

1,000,000

Votes

Choice label

TICKER

100%

Choice label

TICKER

100%

Choice label

TICKER

100%