Restart of HNY-Bright Farm

According to Honeyswap Analytics, roughly 40% of the liquidity of the Bright-HNY pair was withdrawn, most likely due to the ending of the farm. I think it would be a good idea to restart the farm again in order to regain some liquidity.

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I would love to do this if I thought we could use it as an opportunity for more of the 1hive community to buy $BRIGHT , farm some, and join our DAO.

There’s a case to be made that mainnet liquidity is more important, and we’ve treated it that way, with the pending renewal of BRIGHT / ETH with the same high APR.

BRIGHT / ELK and BRIGHT / STAKE positioned themselves as community matching, i.e. the other community is willing to contribute rewards, too.

BRIGHT / ELK was also positioned as a marketing opportunity to the ELK community.

So that’s the context with all the farming proposals that have passed for farming v2 so far.

I think for BRIGHT / HNY to be as compelling as possible, it should feature a plan to attract even more 1hive community members into the farm / DAO , and some agreement for HNY rewards (or XCOMB if that’s still the favored way) to match our rewards.

So everyone who wants to see HNY / BRIGHT back in the farms, let’s hear your ideas and LET’S DAO THIS.

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I agree with this idea very much. I think we should start NHY / bright farm as soon as possible, which will be a great incentive for community members

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I agree with that too. Bright/HNY is one of the best opportunity for communtiy.

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I am willing to support LP incentives for Bright-HNY if it ensures long term LP positions because I am a little worried that opportunistic liquidity providers will dump their rewards onto the market.
Something in the form of a DAO partnership with other DAOs like 1Hive with shared long term LP positions would be a nice option to facilitate cooperation. This could also serve as a marketing opportunity for both sides and diversify the treasury.

Thank you to the new people on the forum for participating, this really means a lot to us! Let us know what you think :pray:

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My personal experience:

I am “super long” on both Bright and Hny.

For me is great to have liquidity rewards, and I agree that 1hive could help matching the liquidity rewards.

I made this proposal on 1hive forum:

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Hi Simone and welcome to the Bright DAO forum!
It is nice to see more active members and even more so if they are from germany :wink:

Thank you for creating the proposal, let’s show her some love on the 1Hive forum!
I hope this will be the spark for a deeper partnership with the 1Hive DAO and serve as an example for future DAO partnerships.

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I’d rather see Bright DAO and 1Hive share DAO-owned liquidity for BRIGHT<>HNY, like how 1Hive did with Shapeshift proposed by @Monstrosity: An Opportunity to Partner two Communities and Strengthen the 1hive Treasury - 🌿 Proposals - 1Hive

Advantages of this route:

  • DAO-owned liquidity lasts longer than incentivized liquidity.
  • Strengthens the friendship between Bright DAO and 1Hive - both communities are incentivized to act in each other’s interest.
  • Shared liquidity acts as treasury diversification for both DAOs.
  • LP rewards are often sold, hurting token price.
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I’d vote for your proposal @paul.

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I believe this proposal will be passed. Can we do it as soon as possible, because LP liquidity has been reduced by about 50%.

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Extremely supportive of this idea @paul.
This seems like a much better use of funds for both DAOs.
It should lead to strong-handed liquidity, tighter coordination, and joint success.

I expect this is an opportunity BrightDAO may want to explore with other aligned DAOs and I can’t think of a better pilot partner than 1Hive.

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I think providing hny/bright long-term farms can boost people’s confidence in investing in bright.
Because hny is the leading project on the xDAI chain, it is more stable than other projects.
If other projects require the opening of bright Farm, they provide incentives for bright Farm.
Instead of requiring us to suspend hny\ bright farms to support them.

Let’s move forward with this. What’s a good target amount? In the fox / hny proposal you linked, it created $1 m in liquidity ($250k swap from each side). I think that’s a good target for bright / hny. The most that was in bright / hny with the liquidity incentive was about $500k , so 2x that seems about right.

@Monstrosity, you created the original proposal, so maybe you can tell us what thought went into deciding the amount for the swap.

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1 million in liquidity sounds great. maybe we should also consider running a restarted Bright/HNY farm for 100 Bright per day for 2 weeks as a stop gap until the proposal passes both DAOs. Thoughts?