Incentivize voting for $BOND in next C.O.R.E event on TOKEMAK

I think it would be great to have a reactor on https://www.tokemak.xyz/ for $BOND. It would create another farm opportunity for $BOND holders and also get more eyes on BarnBridge. Liquidity direction is not live yet but it would also help with $BOND liquidity in the future.

We could also use our $BOND from the Treasury to farm $TOKE in $BOND reactor as a DAO. Or we could move $BOND from bancor to Tokemak reactor because as far as I know, we are not getting any rewards there.

I’m writing this proposal to discuss the potential incentivization of voting for BarnBridge via https://votemak.com/

What do you guys think about allocating $BOND from the treasury to reward $TOKE holders to vote for us and get reactor for $BOND token in next C.O.R.E event?

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Absolutely agree. Would be great to have Bond on Tokemak reactor. Voting incentivization is the way how to reach the top 5 places. Very good proposal, thank you!

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Big thanks for this proposal. Just make DAO vote for it.

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How much have teams had to spend in the past? In order to get listed and what have they gotten from it?

I have quite a bit of TOKE through D64 that we can utilize to vote for this since I assume the other GPs will be in favor but I want to understand what we get out of this in detail before I come up with a plan for it.

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Ser,
I brought this up in first Pre-AMA post - in addition I figured if we were able to use the last 10-30epochs or so of USDC/Bond LP rewards it would save a bundle and buy time for reactor setup (which has been relative quick IMHO). OP from discord below;

Well shit - Since I suggested the preAMA thread, I might as well ask something…

How do we feel about protocol owned liquidity?
I feel that $BOND has been a slow bleed / slightly below a stable asset as the contracts for DAO rewards and LP rewards make it easy for big wallets to “thread the needle” and exploit the APR/APY.
Does the team think it is a good idea to propose to cancel the last 30epochs of the USDC_BOND_UNI_LP in favor of supporting liquidity via Tokemak reactor? That’s 600K $BOND (12Milly at 20.00).

Last CoRE (Collateralization of Reactors Event) on Tokemak showed that it cost about 750K worth of a token bribe to secure a reactor (probably closer to 1 mil next CoRE event) leaving 11mil for other purposes. It should also be noted that small marketcap tokens with a reactor increased by 20-30% ish on average after CoRE.

Currently we are “stage 1” DAO, and with a bribe we can get to “stage 3” rather easily (I think). There is a great writeup by Carsen here → The Evolution of DAOs. by Tokemak Founder, Liquidity Wizard | by Tokemak | Tokemak | Nov, 2021 | Medium

*If this is possible I would further suggest a additional governance clause that enacts both vBOND and tBOND can be used when voting. Something similar to what InverseDAO did with their “Governor Mills” upgrade where xINV and INV can both vote on proposals.

**Lastly, Tokemak may be on mainnet, but their on-chain voting for reactors is done via polygon - how the fawwk are they doing this? Can we not do this, seems like a no-brainer.
More info here → Voting Mechanics - Tokemak: The Utility for Sustainable Liquidity

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I responded via Tyler’s response below - I also want to mention that there is chance they may not be a CoRE 3 and that all reactors may end up being persmissionless soon.

Something to think about.

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Good idea. It would certainly help Barnbridge, at least by making it more visible.

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We cannot actually turn off that pool. Our best bet is to bond it with Olympus.

Can I know why? Not even DAO vote can’t turn it off?

Hey all, I’m on the Tokemak team and happy to weigh in here. Some context and an update:

We ran 2 separate CORE events to have TOKE holders vote on the first 10 DAOs we’d work with, and we executed treasury swaps to ensure those DAOs would have enough TOKE to become powerful Liquidity Directors in the system on Day 1.

As it stands, we’re focusing on building out liquidity deployment to DEXs (Sushi, Uni, 0x, Balancer) which should go live this month. TOKE stakers will have the right direct liquidity to where it will provide the most benefit.

After that goes live and everything works as expected, we’ll open up the system for additional assets with either a CORE 3 vote or allow any DAO to stand up a Permissionless Reactor themselves. The latter would require a deposit of reserve tokens from the DAO (these are not deployed as liquidity, these are held for emergency backstop in the case of extreme IL) & a possibly a deposit of TOKE in order to turn on the Reactor (this part TBD). Then, holders of those tokens would be encouraged to deposit single sided stake for rewards. These are the tokens that would get deployed to DEXs (and paired with the ETH/stables that Tokemak holds).

Votemak had $2.6M in bribes at one point and that helped get APW/VISR/FOX in.

Tyler I believe you’re in a TG chat with my side somewhere. Feel free to reach out direct anytime.

Happy to help with any questions as the come in.

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It was our commitment to the community we couldn’t ever claw it back to ensure the project properly decentralized at the onset. It was designed so it couldn’t be turned off so we would need to essentially use Olympus Pro to buy up the LP and brick the rewards first.

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Thank you helping me with this sir!

Answering the rest of your question.

The biggest bribe paid in $FOX was approx. 700.000$ - 800.000$ there were three protocols that used https://votemak.com/ to reward $TOKE voters and all three protocols won C.O.R.E. 2 event.

Right now for example there is proposal to incentivize LUNA reactor. This is their plan: The plan is to start with $500k in LUNA incentives and gradually increase up to $2m in LUNA depending on how the vote is progressing. This means if the LUNA reactor falls out of the top 5 spots, we’ll bump up the incentives $250k at a time until we reclaim a seat.

Proposal here: Proposal to significantly increase liquidity on Ethereum Curve UST pools through the use of Votium, Convex, and Tokemak - Governance - Terra Research Forum

With $TOKE what we could get thanks to treasury swap we could farm more $TOKE and we could deposit $BOND from the treasury or from Balancer (since we have no rewards there) to farm $TOKE as well.

I would definitely support a Tokemak reactor and have voted in favor of BOND in last 2 CoRe events. The treasury would likely be needed to fund BOND which would need to be voted upon but maybe BOND from bancor could be used for bribes on votemak? In any event, a DAO vote is likely needed to move the project forward and likely bring more eyes on Barnbridge. Hopefully, we will have more information concerning the next phase of Toke reactors ie. CORE3 vs permissionless reactors and that may ultimately make the decision much simpler. Thanks for the proposal!

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