Converting Fees in ADA to MILK
First Usage of the treasury
Plan of Action:
With Governance already on Mainnnet MILK token and it’s holders can now directly benefit
From the treasury.
I suggest we use a % of the fees that are collected in $ADA and automatically buy back MILK of the Market with it.
proposals like this already have been made however I thought since the treasury got upgraded with new tokens and there were no multiple option I decided to make one that can add more flexibility.
- Upward pressure on the MILK token
- If 100% of ada will convert to MILK the treasury will be less diversified.
70k Milk + Additional 15k every month (total 250k milk)
% Of total frontend fees that goes to the treasury:
20% Of the Frontend fees are allocated to the treasury.
Converting a % of the Fees in to MILK as a form of a “Buy Back”
What percentage of $ADA should be used to buy back MILK?
5)Keep it as $ADA
Background for the 2nd Question:
Now That $MILk holders benefit for the DEX Trading volume directly
There should be a common interest to create more volume on the Dex so we can fill up the Community treasury even more!
One of the ways to Create more interest is through competitive challenges!
So here I thought maybe Muesli can start a Trading Competition/Promotion on the DEX!
Now with the MultiDex Routing We are more accessible to larger volumes and more traders.
So the Idea is to boost the frontend fees generated by the promotion to add more Value to our treasury and assuming we choose to buy back MILK using the fees.
We can create an upward pressure on the token which will better promote the liquidity pools , the holders and the DEX itself.
also engaging in a promotion like this shows confidence in the protocol!
I’ll Brake down how it work:
Every Week we will Host the “Hungry Cow Olympics” which is a trading competition with prizes
where the top 10 which will be determined in how much volume they created (using every feature)
will earn rewards respectively for 10th place receiving the lowest amount of rewards and 1st get most of the prize pot.
There will be a LeaderBoard page presenting the top 10 or 100 traders using MuesliSwap
without fully exposing their wallets.
PRO - This will generate more engagement and entries on the site as people will be curious to see.
CON - Needs to be Developed.
In order to mitigate bot manipulation I suggest we add a few criteria and mechanism:
1# - Instead of relying solely on trading volume or frequency we can use unique trading metrics that are harder for bots to manipulate.
For example, consider incorporating metrics like wallet age diversity of trading pairs or holding periods.
2# - To participate in the competition you need to hold a certain amount of MILK.(To vote on)
Resources needed for “Hungry Cow Olympics” Trading competition (Name can be changed)
I suggest we use 25k LiFi and 25k OPT from the treasury to reward contenders.
distributing over 12 months.
here is the proposed allocation and first week example:
Question 2:Do you agree on the general plan of action for a trading competition with all the mention details? (Hungry Cow Olympics , Leaderboard , Top 10 gets rewarded , Mitigate Bot manipulation by using spacial criteria while supporting MILK.
1)Yes I fully agree
2)I agree on the plan not on the amount of allocated tokens of lifi and opt
question 3: How much MILK should a contender hold in order to participate?