Context

• There are 46,000 $NIL in circulation (excluding DAO holdings), 51% of those are staked.
• The ETH/NIL UNI V3 pool serves as a liquidity injection ramp.
• The liquidity scarcity makes the $NIL secondary market more auspicious to brutal volatility, reducing the probability for new participants to join the ecosystem while putting at risk LPs.

Proposal

• Join the Onsen program to start a double reward liquidity mining program - SUSHI + NIL - rewarding NIL/ETH SLP stakers.
• Allocate up to 75,000 $NIL rewards for a 3 months program.
• Reward will be progressively distributed following a “target APY” model.

Content

• Forum discussion NIP 04 Onsen Program
• Forum discussion NIP 01 NIL Liquidity mining Program