Purpose
The purpose of this thread is to have a place for bBALN holders to discuss the best strategy for voting with their bBALN. I’ve noticed many community members confused on how they should be voting and why, so ideally this can be a go-to source for that. Some key things to note:
1.) Voting with your bBALN does NOT give you any extra rewards
2.) Voting is used to direct newly minted BALN incentives.
Let’s say there’s 7k BALN minted per day. If everybody votes for the sICX/bnUSD pool, then that 7k BALN will be directed to sICX/bnUSD liquidity providers.
This thread can have ongoing discussion and I’ll periodically edit this original post to have the latest social consensus on how we should all be voting and why. I will try to keep this thread relatively clean so it’s more of a TLDR guide rather than something that bBALN holders need to deeply sift through, so please keep that in mind when making replies. Replies should ideally include:
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Proposed changes to the General Strategy
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Specific pools you think people should vote for and how they fit the General Strategy and/or your proposed changes.
General Strategy
1. Support pools that can be arbitraged against centralized exchanges
- Logic: Pools that can be arbitraged will always have some trading volume. The deeper the liquidity, the more arbitrage we can support, which leads to more money for arb traders. We want arb traders to make lots of money trading on Balanced. The more they trade, the more money the DAO earns.
2. Support at least some liquidity for BALN/sICX and BALN/bnUSD pools
- Logic: BALN is the governance token of our DAO, so we want to ensure that people feel comfortable buying/trading the token. No need to vote heavily for these pools, but important to allocate some votes to it. People will only buy a token if they feel some level of confidence they’ll be able to sell it in the future. Having liquidity is a good signal to potential investors / DAO Members as it shows confidence in our DAO.
Most important pools based on General Strategy
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sICX/bnUSD: Based on the first point, supporting arb traders.
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BALN/sICX Based on the second point, supporting our own token. This pool does not need a lot of votes, just enough to keep some liquidity there.
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BALN/bnUSD Based on the second point, supporting our own token. This pool does not need a lot of votes, just enough to keep some liquidity there.
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ETH/bnUSD: Based on the first point, supporting arb traders.
– Note - this pool is not live at time of writing -
BTC/bnUSD: Based on the first point, supporting arb traders.
– Note - this pool is not live at time of writing