It has become clear to me that Uniswap is breaking the #1 rule of yield farming, and that is that you have to provide some mechanism for HODLers of the farmed coin to shield themselves from the inflation. Right now, the tokenomics incentivize putting all of your money into lower risk pools such as USDC/ETH, and then selling the UNI as soon as it is received to put more back into the pool. The farmers are price insensitive and dump as a matter of principle to maximize their compounded return. This is not helping the protocol and is rewarding transients who treat us like any other food coin.
Adding a reward for the UNI/ETH pool will provide an incentive to not dump the coin, and keep the liquidity off of Binance/Coinbase so they can’t control our protocol. I think governance is completely set up to do this on a technical basis, there is just no delegate who represents this viewpoint. Is someone prepared to take this on so myself and others and pledge our votes?
Hi Ryan welcome to Uniswap governance. If I understand correctly, you are looking for someone to delegate your UNI to who will stand for adding UNI/ETH pool to liquidity mining pools?
I support this man 100% and that you pointed out and stand by the pressure being sat on the purchases of UNI is huge and it’s a problem that isn’t necessarily seen as such by most folks. You’ve got my vote!
Hi Ryan, I’m Ender, you may have read some of my posts about my work as a marketing professional and background in the film production industry. I received several messages that I should run for delegate, with the main focus of bringing to light what is going on with the constant selling and push for the education and encouragement of holding / “hodling” our beautiful symbol of which we know as our native uni token.
My specialization is the education of the public which is one of the key factors upon which focus is given when creating a marketing campaign for any project.
I have always felt that a ETH/UNI liquidity mining pool should be added.
You have stated it very wisely when you bring to light the release of selling pressure.
The difficulty however is changing a view of a token that has monetary value into anything else. The value is and always will be the driving force behind most decision making. Which is not a bad thing. Understanding the goal of a user is a very big part of influencing a decision to hodl instead of sell.
You hit the nail on the head with the word reward. There are many things that can be proposed with that.
We need to keep control over the protocol and we don’t need a Grayscale situation where one place like in your example of Binance/Coinbase has the majority of clout if weighed in a number of coins.
I would propose several ideas that work well especially with my underlying marketing techniques.
HOPE & CHANCE are very large incentivization tools that can be used. Would you hold if you knew that there was a good chance of receiving a large sum of tokens just for holding?
Think Lottery. I’d call it “The HODLottery” lol I’m just spit ballin’ ideas right now but i know that I wouldn’t sell if i thought perhaps I might get randomly chosen this week to receive a large reward or receive what another user proposed we should be burn.
I’d also propose an active forum user Airdrop. One created that only happens once, isn’t advertised, and would be split between the plethora of excellent minds we have working on this awesome project.