Summary: Several community members have brought up the idea of an OHM-ETH pool. They would like to provide liquidity for OHM, but they also don't want to lose exposure to ETH. This proposal suggests that we create an OHM-ETH pair and incentivize it with 0.01 OHM per block, and reduce current LP incentives on OHM-DAI to 0.01 OHM per block.
Background: Many believe that it would be easier for us to build liquidity with an ETH pair. This makes sense; few here are likely holding DAI on a regular basis. An ETH pair could allow us to build deeper liquidity by offering an alternative for LPs. Additionally, by adding this pool on Uniswap, we can reach a significant number of new traders and LPs.
Abstract: It may be worthwhile to divert additional resources toward this OHM-ETH pairing. Reducing pool 2 rewards for OHM-DAI from 0.0135 OHM/block to 0.01 OHM/block, and adding new pool 2 rewards for OHM-ETH for 0.01 OHM/block, would help conserve our resources and the majority of our existing liquidity while incentivizing the buildup of new liquidity.
Motivation: To add extra options for prospective LPs with an ETH pairing and broaden our addressable market with a listing on Uniswap.
Concerns: Arbitrage created by an ETH pair versus a DAI pair.
For:
Add the OHM-ETH pair with 0.01 OHM/block incentives and reduce the OHM-DAI pair to 0.01 OHM/block
Add the OHM-ETH pair with 0.01 OHM/block incentives and keep OHM-DAI incentives as is.
Against: 3. Do not add an OHM-ETH pair, keep incentives as is.