EDIT: Please discuss here instead:
TLDR; Community provides permanent WETH, Blockzero provides permanent FLASHV2. Get more FlashV3 tokens later as a bonus for being an LP in V2 now. Also receive any future FlashV2 Liquidity Mining rewards.
If we want to fix the current V2 liquidity issues, it needs to be a community effort.
Hypothetically, assume all of the following is true:
1) We have hired a full time developer to work on FlashV3 and we have a crystal ball and know the launch date for FlashV3 is exactly on November 1st 2021
2) All FlashV2 tokens will be 1:1 airdropped FlashV3 tokens
3) We have 1million FlashV2 tokens to use for this UniV2 Liquidity Initiative (funded by the Blockzero Vortex, mostly coming from the remaining ~700k Grace period minted amount, the remainder as from the Vortex from previous FPY matching funds)
The goal is to raise as much WETH as possible to pair with the 1million FlashV2 tokens to add all of it to UniV2 FlashV2/WETH.
All WETH sent to the FlashCommunity.eth wallet will be paired with the 1million FLASH tokens and added to UniV2 as permanent liquidity for FlashV2, until FlashV3 launches. We will migrate all FlashV2 liquidity that is controlled by the FlashCommunity.eth to become permanent FlashV3 liquidity for FlashV3/Weth.
However much WETH is deposited will determine what ratio of LP values each address is credited for.
- Example: if exactly 100 WETH is sent to FlashCommunity.eth and you were responsible for sending 2 WETH, your matching would be exactly 2% of the 1,000,000 FlashV2 tokens (“Flash matching”).
Whatever # of FlashV2 tokens you get from the Flash matching, you would get +200% more when minted FlashV3 tokens. We will plan to mint exactly +2million more FlashV3 tokens specifically and only due to this Liquidity Initiative.
- Example: if you were 2% of the 1,000,000 FlashV2 from this liquidity initiative, = 20,000 FlashV2. You would get 40,000 FlashV3 tokens when FlashV3 launches.
Any future FlashV2 liquidity mining rewards that UniV2 LPs are eligible for, this initiative's LPs would also be credited for. This means your liquidity now will also receive FlashV2 tokens (but at 2x the value since you only have to put up the WETH not the FlashV2 too)
Steve.eth will be responsible for tracking these values centrally and providing a future distribution report to make sure we reward those liquidity providers appropriately.
The plan around July 1st would be to:
- Send 1mil tokens from Blockzero Vortex to FlashCommunity.eth
- Log in as the FlashCommunity.eth multisig onto UniV2
- Add maximum amount of FLASH or WETH possible, up to the WETH amount provided by community and up to the 1mil FLASH tokens. Due to existing liquidity, it wouldn’t be a perfect 100% add, we will have a little bit of WETH or FLASH left over not added to LP. Whatever is extra we could simply send directly to the LP contract which would be automatically dispersed to all LPs proportionally.
The plan around November 1st would be to:
- Mint the extra 2million FlashV3 and reward all LPs from this July UniV2 FlashV2 initiative.
- Vote on if/how this permanent liquidity should be returned to the participants, or be migrated to V3's Flash/Weth Dapp pool. (You can sell Flash in the Flash/Weth dapp pool, so UniV2 would no longer be needed as a liquidity location for FlashV3 tokens)
- Should this be a hard amount raised of exactly ### WETH (such as 100 WETH) or should it be any variable amount? (If only 5 WETH provided, those 5 would get to share the 1mil FLASH bonus, huge upside to them. If over 1000 WETH provided, they would be heavily diluted)
- Should we add liquidity in smaller increments over the course of a week instead of all at once?
- Should we return the FlashV3/Weth LP tokens to the V2 addresses providers instead of making it permanent liquidity held by FlashCommunity.eth ?
- What do you like or not like or what would you change about this?
- Would you provide any ETH for this? How much?
- Should we do this?