[BIP:79] Hummingbot CEX Trading Campaign

Beefy would like to increase liquidity in the 2% spread on the Binance BIFI/USDT pair to facilitate trading, and is requesting a budget of $49,400 to start a farming campaign on hummingbot.io for up to one year.

Background:

CEXes require that listed tokens on their platform meet their requirements related to liquidity and trading. To meet those requirements, the Beefy DAO has already hired and funded a Market Maker for our various CEX pairs. Yet, our BIFI/USDT pair on Binance still has low liquidity on the -2% spread.

Increasing funds delegated to the Market Maker might not be enough and could result in Impermanent/Permanent Loss for those treasury funds. In order to improve this while not increasing protocol-owned liquidity delegated to the MM, it is suggested to employ a CEX liquidity campaign through hummingbot.io, who we have used in the past to provide weekly incentives to algorithmic trading bots.

Proposal:

Allow spend of $950/week to reward liquidity providers on the Binance BIFI/USDT pair in the 2% spread for 6 months.

After 3 months:

• If Core considers the trial successful, it would be extended to a yearly campaign (total $49,400).
• If Core considers the trial unsuccessful, the campaign will expire after the initial 6 months (total $24,700).