CFP-2205-09: Providing liquidity on Pancakeswap in the BNB-DFI Pool (100 000 DFI) #153
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Stonygan
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uzyn
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uzyn
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signmessage 8cZqD6X14ipFqmvz6pYYR5p7Dp5n4xc9VT "CFP-2205-09-yes" |
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$ defi-cli signmessage 8KFsvQJ6uMsaydwfqmho1kCof1PWV3v9kg "cfp-2205-09-yes" |
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defi-cli signmessage "8LaQQZhfYiLukaZM9qekTB1b7UAR3Bapn2" "cfp-2205-09-yes" |
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$ defi-cli signmessage 8MHJGoybb1V5LM3ykQCWWnuQHVdYs2MKro "cfp-2205-09-yes" |
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Since this is a loan in Euro: What if after 5 years the loan cannot be repayed because of fallen value? What if after the loan was repayed there are still LP tokens left because value increased: who owns these tokens? Can’t find anything on Reddit to this. |
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$ defi-cli signmessage 8QHLgmQVqMFQyN3cjPU2EDoKv7enHKstyn "cfp-2205-09-yes" |
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We should have even more liquidity in them! $ defi-cli signmessage 8L5j436kX39LVjaW9H1oM61mmcdC586zVv "cfp-2205-09-yes" |
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$ defi-cli signmessage 8ZXFPdY9rwAA6YqQiDZ471NqTDiELiPqJX "cfp-2205-09-yes" |
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$ defi-cli signmessage 8XbXVZxEc4j1x9o7diUNX1kzR3jGiUxqMG "cfp-2205-09-yes" |
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$ defi-cli signmessage 8V77Hhv6pen56H54LJSwt7b3SYjDAgGJBr "cfp-2205-09-yes" |
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signmessage 8cS4WTshRjjhKJ5fizs7tNmK49yRufM5Vt CFP-2205-09-yes |
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signmessage 8P24qRzccs9FJXkqrrzPZGa2aNXxqBkrmb "CFP-2205-09-yes" |
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Votes of the DFX Community Votes: signmessage 8KirKNGVgrsQsmWuy1Ee4ZmsnXVVkAEzh2 cfp-2205-09-yes |
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defi-cli signmessage 8daGYPTDTzMRtUx61uWRjg7p9GECMjuip8 "cfp-2205-09-yes" |
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CFP payments have been processed. Please refer to #140 (comment) for detailed info and hashes. Thanks! |
and others
Overview
Describe the purpose
Providing liquidity on Pancakeswap in the BNB-DFI Pool.
100,000 DFI from the Community Fund will be used to bring 50,000 DFI to the Binance Smartchain as DFI via the Defichain Bridge. The other 50,000 DFI will be swapped into BTC via the DeFiChain DEX and swapped into real BNB via a CEX.
For tax reasons, the CFP is accepted as a loan in Euros. We commit to repay the received Euro value of the DFI after 5 years at the latest into the Community Fund or to the DeFiChain Burn address.
The loan interest is 1% per year, which will be sent to the burn address in DFI at the end of each year.
We chose Pancakeswap because this DEX has by far the largest TVL on the BNB Smart Chain.
Why the LP-Token are not frozen or burned?
In order to be able to react to any code changes at Pancakeswap, we decided against burning or locking the LP tokens based on advice from Reddit and chose a loan model with repayment.
How will the fund be spent?
100% of the funding goes into the BNB-DFI liquidity pool on Pancakeswap.
How does this CFP benefit the DeFiChain community?
A high TVL is in our opinion immensely important, also in view of a possible Binance listing, to be able to generate a large volume and not fail because a 1,000 DFI trade shifts the pool by more than 5%.
Trade Example:
With liquidity that we can provide with this CFP, the pool still remains below 5% pool shift with a $20,000 trade.
We are aware that depending on the volume on Pancakeswap and the acceptance on the Binance Smart Chain, this can only be the first step and the pool still has to grow significantly in TVL in the coming weeks.
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