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PangolinPangolinby0x3B7631F8E3428dEaB77634BF799b622ce412e9Ea0x3B76…e9Ea

Proposal for BIFI/AVAX and BIFI/PNG to Receive PNG Rewards

Voting ended over 4 years agoFailed

I would like to propose that we give PNG rewards to BIFI token pairs. BIFI/AVAX at 1x multiplier and BIFI/PNG at 5x multiplier.

Background: The BIFI token is the revenue sharing and governance token for Beefy Finance. Beefy Finance is a yield optimizing platform building on Avalanche and supports over 20 compounding pairs. Beefy Finance is large player in the BSC and Polygon space (150k Twitter followers, 460M+ TVL) and would like to continue to expand into Avalanche.

We should support Beefy's efforts to grow the Avalanche ecosystem by adding the BIFI token to PNG rewards pools, so that Beefy can help bring new users and liquidity into Avalanche DeFi.

Benefits to Pangolin:

  1. Attracting new users and liquidity - Beefy's community and visibility in the DeFi space will help attract a lot of users from other chains to use Pangolin and Avalanche
  2. Expanded Token Selection - Pangolin should be expanding its tokens available for trading
  3. Trading Volume & TVL - BIFI pairs will generate meaningful volume and fees through trading and arbitrage

About the BIFI token: The BIFI token has a market cap of $70M, a circulating supply of 78,000, and a max supply of 80,000. BIFI tokens are ‘dividend-eligible’ revenue shares in Beefy Finance, through which holders earn profits generated by Beefy Finance and are entitled to vote on important platform decisions. BIFI token is available to be bridged from BSC through the AnySwap bridge. https://www.coingecko.com/en/coins/beefy-finance

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Timeline

Jul 13, 2021Proposal created
Jul 13, 2021Proposal vote started
Jul 17, 2021Proposal vote ended
Oct 26, 2023Proposal updated