[BIP-21] Proposal to incentivize $USDT & $USDC cross-chain users (Extended)

To further improve your bridging experience with BoringDAO, we propose to provide rewards for $USDT & $USDC cross-chain users depending on the liquidity level of the original and destination chains, which is quite similar to our current extra bonus program for LPs. This will benefit more bridgors while ensuring better balanced liquidity pools on different chains.

Reward details:

0.5% for liquidity on initial chain < 100,000 $USDT/$USDC; 0.15% for liquidity on initial chain ≥ 100,000 and ＜500,000 $USDT/$USDC. Current transaction fee rate: if the remaining liquidity on the destination chain

≥ 500,000 $USDT/$USDC, fee rate 0.05%; ≥ 100,000 $USDT/$USDC, fee rate 0.3%; < 100,000 $USDT/$USDC, fee rate 1%. Let’s say if a user transfers 400,000 $USDT from Ethereum to Metis, Ethereum has 100,000 $USDT liquidity while Metis has 1,000,000 $USDT liquidity.

Then he can get 600 $USDT (400,000 x 0.15%) as rewards and pay a transaction fee of 200 $USDT (400,000 x 0.05%). In total, he will actually earn 400 $USDT through this cross-chain transaction!

You can even make money by transferring your stablecoins from one chain to another. Doesn’t that sound exciting?

For: Provide the incentives for $USDT & $USDC cross-chain users. In this way, we can not only provide more incentives to motivate cross-chain users, but also balance the liquidity on each of our supported chains.

Against: Do nothing.