Proposal: Extend LM Rewards for Matic

Governance Forum Link: https://gov.bancor.network/t/proposal-extend-lm-rewards-for-matic/2073

The MATIC pool began receiving LM rewards when the marketcap was below $1B. It has now grown to over $8B. This tremendous growth has benefitted the Bancor platform with added liquidity and trading volume. Over 27 million MATIC has been added to the Bancor platform because of the LM rewards. Before LM rewards were in place, less than 1 million MATIC were staked. This pool has grown to $58 million in liquidity at time of writing.

MATIC has consistently had one of the highest trading volumes, with a max daily volume of over $50 million. Typical trading volumes are $10 million+ generating 20k+ fees daily.

Bancor’s growth as a top DEX will continue to benefit from the liquidity the MATIC stakers are providing, it is important we extend LM rewards for another 12 weeks to maintain the size of this pool.

Thank you for your consideration. Look forward to hearing feedback.