Woke up this morning and couldn’t stop thinking about the idea below from 0xViper. Just wanted to further the discussion.
Benefits of 256x Cobra with 30-40% pool allocation to VIPER/COBRA
- Discipline - In maintaining the same 256x emission and 95/5 lock up as Viper, we let future sneks know that we’re disciplined and fair. This saves us from backlash from future sneks who thinks it’s unfair and at the same time incentivizes more people to farm Cobra.
- Cross Chain Farming - ViperSwap is now the default DEX for Harmony Protocol and when the BSC apes see 256x emission and 95/5 lock up, they WILL show up. ViperSwap’s reputation will alleviate the apes’ worry of a rug pull and further drive the demand for VIPER and COBRA. This helps VenomDAO’s overall goal of being a cross chain DEX and sets the stage up for a VENOM ETF.
- New Utility for VIPER - With a 30-40% emission allocation, the VIPER/COBRA pool will have a very high TVL and will be one of the most liquid pool for swapping. The demand for VIPER will skyrocket and will give VIPER the opportunity to be the #1 bridged asset on Harmony’s Horizon bridge.
I think the possibility of having VIPER be the #1 bridged asset on Harmony is very entertaining. I think there’s still ongoing discussion but newer pools will be denominated in VIPER.
What does this mean? Whenever someone wants to move their assets to Harmony they will bridge VIPER. With more VIPER denominated pools, it will be cost efficient for many cross chain users to bridge VIPER and convert it on ViperSwap (default DEX of Harmony) since they don’t have to reroute to other coins.
Hoping to start the discussion here and see what else people think.