A few weeks back, we set up the first liquidity pool for $SWISE, pairing it with the $1INCH token and listing on 1inch. This was done to take advantage of the opportunity for a joint liquidity mining program with the 1inch Exchange. As the original program approaches its end (May 25th is the last day), the StakeWise team would like to propose to extend the liquidity mining campaign in the $SWISE/$1INCH pool until the 25th of June and allocate 1,000,000 $SWISE towards farming rewards from the DAO Treasury.

Motivation

The 1inch pool remains a key trading venue for $SWISE until the liquidity pools with other pairs like $SWISE/ETH and $SWISE/USDC are deployed and $SWISE staking is rolled out. Extending the farming campaign would help StakeWise preserve good liquidity in the pool, which is necessary for price stability, and offer an additional incentive to hold $SWISE until other functionality for it is deployed.

To summarize:

$SWISE holders can put their capital to good use, earning more $SWISE (and trading fees) More $SWISE is deployed as liquidity instead of inactively sitting in the wallet or being sold Deeper liquidity leads to a more stable $SWISE price Outsiders and $1INCH holders who want to generate yield will buy $SWISE to LP, boosting $SWISE and contributing more liquidity Allocating 1,000,000 $SWISE towards the new campaign is believed to offer a worthwhile incentive (~45% APY at the current amount of value locked) to provide liquidity given the opportunity cost of deploying capital.

Specification

If the proposal is approved, we would submit one transaction for a transfer of 1,000,000 $SWISE from the DAO Treasury (0x144a98cb1CdBb23610501fE6108858D9B7D24934) to the 1inch farming rewards contract (0x2CB9e71A5cf989008Ba93dAD8EdB988eC1b4182f).