- Title: Proposal for Syrup pool/farm on PancakeSwap
- Author(s): Chef Pepper, PancakeSwap BD
- Related Discussions: NA
- Submission Date: 25/11/2022
Farms on PancakeSwap provide incentives for users to provide liquidity for HFT-BUSD trading pair by distributing CAKE to Hashflow pair’s LP token holders. The CAKE for the farm will come from PancakeSwap.
Syrup Pools on PancakeSwap are a way of drip feeding HFT tokens into the BNB ecosystem to users who stake CAKE in the pool to earn HFT tokens. This will introduce more BNB users to the Hashflow ecosystem, in turn, growing Hashflow’s community.
These two products go hand-in-hand to help Hashflow boost liquidity, market and social interest on the BNB chain.
Abstract & Motivation:
Having a syrup pool on BNB chain’s largest Def protocoli, PancakeSwap, will be a good way to introduce HFT tokens into the BNB ecosystem. Additionally, PancakeSwap will be providing an incentivised farm from its own CAKE emissions. This arrangement aims to maximize community engagement, user value, and benefit to the Hashflow project.
Specification & Rationale:
With the syrup pool/farm on PancakeSwap, Hashflow gets to boost their liquidity and volume – this will in turn benefit the entire ecosystem.
Hashflow would give PancakeSwap $100K worth of HFT tokens for a 10 days syrup pool. The syrup pool would linearly distribute the HFT tokens over 10 days to CAKE stakers. (Users stake CAKE to earn HFT). For clarity, 100% of these tokens will go towards users.
PancakeSwap would provide a farm with 0.1x multiplier over a minimum of 10 days. Refer to PancakeSwap’s Tokenomics to understand how farm multipliers work.
To support optimal market conditions, Hashflow would also seed $500K ($250k HFT & $250k BUSD) worth of liquidity on PancakeSwap.
PancakeSwap is BNB Chain’s Leading AMM, with more than 2M users, $3.9B TVL, and $200M Daily Traded Volume, hence a Syrup Pool and Farm on PancakeSwap is an highly effective user acquisition method for Hashflow, with ~5-10% of PancakeSwap’s user base actively participating
Notable projects that have participated in PancakeSwap’s syrup pool include: STEPN, Galxe and many more such as Open Leverage, and Wombat Finance. These projects gained deep liquidity and volume leading to engaged flow generation and marketing activity for their project. Similarly, Hashflow can use the syrup pool on PancakeSwap as a springboard for its growth on BNB chain and beyond
- Liquidity can be gradually withdrawn by Hashflow if the organic liquidity and volume stabilizes at a decent level. PancakeSwap can advise on the ideal liquidity and volume levels after the syrup pool/ farm has been launched
Yes means that you support Hashflow to proceed with the above arrangement.
No means you do not support Hashflow to proceed with the above arrangement.