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CafeSwap.FinanceCafeSwap.Financeby0x28708db9724483Cf01E8d07A0375f99d18975EB80x2870…5EB8

Should CafeSwap add farms for τBTC-BTCB and τBTC-BREW LP tokens?

Voting ended almost 5 years agoSucceeded

The Bitcoin Standard Hashrate project is underway, and liquidity only seems to exist on PancakeSwap so far. τBTC aims to be a synthetic BTC-pegged token that is not controlled by Binance. Other independent BTC bridge tokens akin to BTCB exist (pBTC, renBTC); but τBTC's peg mechanism is unique.

τBTC-BTC LP tokens are, in principle, a stablecoin pair; so they shouldn't incur much, if any, impermanent loss. Adding a farm for this pair to CafeSwap will encourage the use of τBTC and decentralize the BSC ecosystem a little more away from PancakeSwap. It will also bring BTC holders to the Café.

Furthermore, the only τBTC pair that exists with appreciable liquidity on PCS is τBTC-BTC. More avenues to swap into τBTC might be good to have. Perhaps it is worth considering also adding a BREW-τBTC LP farm.

Off-Chain Vote

Yes, add a farm for τBTC-BTCB LP
3.53K 39.1%
Yes, add a farm for τBTC-BREW LP
0 0%
Yes, both τBTC-BTCB & τBTC-BREW
5.49K 60.9%
No, do not add any τBTC farms
0 0%
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Timeline

Apr 27, 2021Proposal created
Apr 27, 2021Proposal vote started
May 04, 2021Proposal vote ended
Oct 26, 2023Proposal updated