Overall this proposal will: • Increase liquidity and trading pairs for the SX token • Compensate market makers in SX, DINO and DFYN for market making the SX token • Provide valuable marketing and exposure for SportX and SX in the crypto world • $270,000 of DFYN rewards paid to SportX LPs over 60 days • 300-500% annualized yield in newly launched DINO token over 60 days to ETH/SX LPs on Sushi Swap (up to $2M of DINO at launch price!)
In exchange for: • 1.15M SX tokens (500,000 SX for Dino Swap and 650,000 SX for DFYN partnership)
Details: To continue liquidity growth of SX on DEXs we have been working with a decentralized exchange called DFYN and a new project called DinoSwap to set up pools that will pay Liquidity Providers of SX.
The first project is Dino Swap which is launching in mid-June, their farming aggregator protocol will incentivize LPs of the ETH/SX pair on SushiSwap. They will guarantee a 300-500% APY in Dino tokens for LPs that will vary based on pool size. But could up $2M of rewards over the 60 days! In return SportX would need to provide $200,000 worth of SX to Dino holders.
The second project is DFYN exchange which is a very promising decentralized exchange that SportX will have an incentivized pool on. The DFYN team will match in DFYN tokens whatever the SportX community puts up in incentivizes for LPs. It will be a dual farm where LPs will earn SX & DFYN continuously for providing liquidity on the SX/DFYN pair.
Both partnerships will provide increased exposure to the DFYN and DinoSwap communities. DFYN and DinoSwap will market the SportX partnership and increase our exposure across the crypto community. Further to that, DFYN has offered to arrange an AMA (Ask Me Anything) in their community chat which has 20,000 crypto users. DinoSwap is a promising new DeFi protocol similar to Pancake Swap on Binance Smart Chain, SportX would be one of the founding partners that they launch with which could be very exciting.
If this proposal passes, I will also create a dedicated Liquidity Provider channel in the SportX discord to provide support and guidance for SX token holders looking to participate in these liquidity programs.