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Benchmark ProtocolBenchmark Protocolby0x942d6Db00798741061C3Cb9B2acF864391B54FB70x942d…4FB7

Incentivize liquidity provisions on Uniswap for xMark-Eth

Voting ended almost 5 years agoSucceeded

Hi everyone, With the recent launch of xMark, we can all finally stake our $MARK tokens individually for rewards. Not only will this allow people to compound their The Press earnings, but also allow users to gain rewards without exposing themselves to impermanent loss.

Although the dual token model is a great way of rewarding early investors with farming rewards, it is still limiting for new and smaller investors via GAS costs. If an investor want's to put $100 into $MARK and start earning rewards, they have to pay the uniswap, approval for staking, and staking gas. This can potentially be anywhere from $5-50 which represents 5-50% of the initial investment.

To counteract the ever-increasing gas costs and simplify the staking process, I'm suggesting creating an incentivized Liquidity pool for Eth-xMark so that new investors can trade directly into the $MARK staking pool, avoiding the multiple transactions otherwise needed.

Incentives would not need to be great for this pool, as xMARK is constantly accruing value through staking but enough to counterweigh impermanent loss.

Let me know what you guys think. :)

Off-Chain Vote

Yes xMARK-Eth pool
54.59K 100%
No xMARK-Eth pool
0 0%
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Timeline

Jan 14, 2021Proposal created
Jan 15, 2021Proposal vote started
Mar 01, 2021Proposal vote ended
Oct 26, 2023Proposal updated