IQIP-1: Incentivize 1st LP and staking / locking mechanisms (IQ-FRAX)

Authors

Everipedia Team

Summary

Issue 1M IQ/day in order to incentivize liquidity across different chains and new initiatives like staking to reward NFTs or locking for governance boost. The first pair to be proposed for IQ incentives is IQ-FRAX.

Background

IQ has been EOS native until we recently moved to a multichain structure in preparation for launching our native Brainchain later this year. The goal of the IQ community should be to make IQ tokens extremely liquid and attainable in as many ecosystems as possible. To do that, we must first allocate a certain amount of IQ rewards per day for liquidity partnerships.

Purpose

In order to achieve IQ being fully functional across different chains we need to incentivize stakeholders to add liquidity to different pools and also reward long term stakeholders with rewards.

Benefits

This should overall increase the value of IQ tokens more than the increase in circulation supply as IQ will be used in the growing ecosystems of partner projects (first to be included FRAX with others to come). Additionally, the liquidity, expansion to new communities, and brand recognition of the IQ token would likely create substantially more market capitalization and usage in comparison to the small rate increase.