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PangolinPangolinby0x3B7631F8E3428dEaB77634BF799b622ce412e9Ea0x3B76…e9Ea

Increase multipliers of WBTC.e and LINK.e

Voting ended over 4 years agoSucceeded

This proposal is to increase the multipliers of AVAX-WBTC.e and AVAX-LINK.e from 1x to 5x.

There is ~230M WBTC.e and ~130M LINK.e on the Avalanche Network. Pangolin has less than 2M TVL in WBTC.e and LINK.e. Trader Joe on the other hand has ~20M TVL in WBTC.e and LINK.e each.

On Pangolin, the APR is only 4% for WBTC.e and LINK.e from PNG rewards, which is very low and uncompetitive. Trader Joe on the other hand is offering between 45-65% APR on these.

We should be more competitive in attracting liquidity for these popular tokens, since it will drive more users and volume into the Pangolin app. If we want to be the top DEX on Avalanche, we should also aim to have top liquidity in the major tokens on the network and also aim to attract high overall TVL.

Total liquidity on Network: https://avascan.info/blockchain/c/bridge/0x50Ff3B278fCC70ec7A9465063d68029AB460eA04

Pangolin Liquidity: https://info.pangolin.exchange/#/tokens

Trader Joe Liquidity: https://analytics.traderjoexyz.com/tokens

Off-Chain Vote

Yes, increase
424.53K 98.1%
No, don't increase
8.33K 1.9%
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Timeline

Sep 10, 2021Proposal created
Sep 10, 2021Proposal vote started
Sep 13, 2021Proposal vote ended
Oct 26, 2023Proposal updated