Pool reallocation: Reduce 1WISE-VIPER pool allocation from 5% to 2%

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The 1WISE-VIPER pool was launched a long time ago together with WISE.

It has served its purpose to promote WISE and VIPER, and a 3% pool allocation can be used more strategically than being allocated to this pool.

Voting alternatives:

  • YES - reduce the pool allocation to 2% (removing 3 percentage units)
  • NO - keep the pool allocation at 5%.

We’ve just updated our governance section in our documentation: Governance - VenomDAO

It details the usage of our new ViperVote token and our rules for minimum votes and quorum requirements.

For a voting alternative to win the vote it has to:

  • Reach >55% approval
  • Reach >33% of eligible votes voting to establish the quorum.

For this specific vote:
The current supply of ViperVote is: 98,817,142 ViperVote
Required votes (>55%): 54,349,428 ViperVote
Required quorum (>33%): 32,609,657 ViperVote

Voting will start June 5th, ~10AM UTC and end on June 7th, ~10AM UTC. Voting snapshot of ViperVote balances will happen at block height 13915957 (roughly ~2 hours before voting starts).

3 Likes

I am biased in being a WISE holder and being in the 1WISE-VIPER pool. Keeping the 5% pool allocation will benefit me. That being said, I still think the Wise ecosystem has a lot to offer the cryptocurrency space with its initial fair launch, future lending/borrowing contracts, and plan to onboard on to other major blockchains. The Wise ecosystem is rapidly growing monthly and has been gaining attention in the defi sector ever since its inception. Wise can benefit Viperswap because there are currently about 29 million Wise tokens ($15 million at the current price) being held and not staked that are potential tokens for liquidity pools. On top of that, there are about 277 million Wise tokens ($144 million) in ownerless liquidity on Uniswap V2 that are also potential coins for liquidity pools for any VenomDAO DEX. Reducing the pool allocation from 5% to 2% will drop the incentive for buyers of this token to deposit their LPs on this beautiful DEX we call Viperswap. Vote “NO” on the reduction of the 1WISE-VIPER pool allocation from 5% to 2%. Thank you for your attention.

Yae.

Appreciate all of the help the WISE folks have done to help VenomDAO grow.

As we continue to grow, we need to create new partnerships AND strengthen our existing ones.

5% of emission is very high and I think you have to earn it: If WISE wants to continue partnering with VenomDAO/Harmony, why not move a portion of their locked permanent liquidity fund from Uniswap V2 to ViperSwap?

If they’re willing to park some of their permanent liquidity on VenomDAO, it shows confidence that they’re willing to partner with us in the long run, and thus deserve more emission. I am all about growing WISE TVL on VenomDAO, but we should strategize in a way that benefits VenomDAO in the long term.

1 Like

I would recommend a slow reduction of rewards over time giving those who invested a chance to recoup any losses incurred by a price reduction. It is easy to assume that everyone in the pool started investing in a pool while prices were low. However one should assume that late investors were attracted to the high returns and we’re willing to pay higher prices. I would be very cautious not to disenfranchise the newer investors.

This is why a lot of thought and research is done by the bigger players before creating new trading pairs.

Just a thought. I personally have no dog in the fight as I’m invested primarily in the main pairs.