Minimal investment opportunity for a marketing proposal with positive upside for xdai and corresponding protocols interested in co-marketing with elk finance.
Elk finance was just rewarded $125,000 in $STAKE rewards to incentives liquidity providers and thus liquidity flow to xdai. Elk is a burn and mint bridge migrating to decentralized node operators which allows liquidity flow from any of the networks they are currently operating on over a dozen supported networks including; ftm, matic, avax, bsc, moonriver, xdai and many others. Elk is using the $STAKE rewards as an opportunity to ignite some cross marketing exposure by asking protocols if they are interested in partnering in this program.
The elk-bright pair has the potential to bring volume to the bright token with very little incentives due to the piggy backing off the $125k stake rewards. bright would provide $5k in rewards, elk matches, BrightID would get exposure from 12-15 networks, co-marketing alongside other xdai projects, and an AMA. This would also give us an opportunity to build a relationship with ELK that could go cross chain as bright gains exposure.
Expected duration or delivery date (if applicable):
The idea is $STAKE is rewarding xdai-elk and stake-elk pools. $ELK is rewarding all other pools at a rate to maintain approximately 100% APR.
Sharing of comarketing will occur in advance share all potential partners involved.
1.) Dates are still TBD but it is estimated that on Wednesday Nov 17 farms will go live .
2.) BRIGHT-ELK pair will be Dual rewarded ELK + BRIGHT.
3.) An AMA with ELK community will take place within 1 week of the farm going live to educate the ELK and BrightDAO community on the farms and the protocol.
4.) dual rewards will extend for months for duration of funds and may receive additional boost from ELK depending on trading volume from partnered pairs
Stonky, Twells, Monstro, Paul
Skills and previous experience in related or similar work:
All very active in 1hive and agave >6 months
Amount of BRIGHT requested: 11,000 BRIGHT ~ $5170 (at $0.47 bright)
$5000 to fund ELK-BRIGHT pair at a rate of approximately 200-400% APR (approximately 2-3 months)
remaining $170 for design/tweets that are needed
Ethereum address where funds shall be transferred:
More detailed description of how funds will be handled and used:
Team will distribute tokens to the contracts as/when needed.