Read the original proposal on Discourse

TL;DR

• The liquidity mining (LM) rewards program started on the 1st of March 2021.
• First 12 weeks of LM rewards for the UNIBNT pool will be over on the 24th of May 2021.
• At the start of the LM rewards program, the pool liquidity was 5,606.09 UNI ($122,852.42), and has since grown to 638,101.71 UNI ($18,168,055.53), captured on the 19th of May [1].
• In the past month, the pool has attracted an average APR of 3.15% corresponding to an average of $3,414.64 in daily fees and an average daily volume of $1,703,905 [2] [3].
• Since the start of the LM rewards program, the liquidity in the pool increased roughly 148 times and the average weekly volume increased 623.84 times (compared in USD).
• The pool is the 3rd deepest DEX pool, with half the liquidity of SushiSwap, which currently doesn't offer LM rewards. The deepest pool is on Uniswap [4].

Justification

The choice to start the liquidity mining rewards was obvious - to capture LPs from Uniswap with a better offer for their UNI than any other DEX.

Here is a comparison of the fees obtained in the past 60 days from the pools with currently active LM rewards:\

Please share your opinions/thoughts on the extension.

[1] Pool liquidity obtained from Dune Analytics
[2] Pool APR obtained from Dune Analytics
[3] Pool fees and volume obtained from Dune Analytics
[4] Uniswap markets checked on Uniswap price, UNI chart, market cap, and info | CoinGecko