[Governance Proposal] Quickswap Rewards & Pool Weights

Summary:
We were happy to announce our partnership with Quickswap earlier this week. Quickswap has provided rewards to allocate to the Furucombo Pools. $200k in QUICK tokens can be allocated to the auto-invest farms.

This governance proposal aims to answer how the rewards should be allocated, and also the allocation weights on the farms. Another change the Furucombo Team wants to make is to allocate COMBO rewards only to the COMBO/WETH pool to reduce the sell pressure on the COMBO token.

This governance proposal is aimed at gauging whether or not it is accepted by the community by reaching a quorum. In the future we will extend the process by adding Snapshot voting with vCOMBO as shown in our governance docs, but for now we will use this gauge community support. Please take the time to read over the suggested proposal and cast your vote (yes or no).

This proposal aims to allocate the rewards and weigh the pools as follows:

Proposal A:

  • Add QUICK rewards to all pools proportional to their existing weights (current weights are 1x for all pools except COMBO/WETH which is 3x)
  • Reallocate all COMBO rewards to ONLY the COMBO/WETH pool to reduce sell pressure on the token (currently COMBO rewards are provided to all pools)
  • Keep the pool weights the same at 1x for all pools except COMBO/WETH which is 3x

Proposal B:

  • Add QUICK rewards to all pools proportional to their existing weights (current weights are 1x for all pools except COMBO/WETH which is 3x)
  • Reallocate 50% COMBO rewards to ONLY the COMBO/WETH pool, and the rest of the COMBO rewards to each of the other existing pools - to reduce sell pressure on the token (currently COMBO rewards are provided to all pools)
  • Keep the pool weights the same at 1x for all pools except COMBO/WETH which is 3x

Feel free to open the discussion around a different option if you voted no, or if you want to discuss more around the above proposal. We can add the proposal to the proposal list if there are other options that aren’t listed above as an alternative to proposal A.

Voting will be live until October 4th 12:00 UTC time. If a quorum is reached, we will enact the proposal with the majority voted ‘yes’. Thank you for taking the time to vote and be a part of the Furucombo governance!

Proposal A
  • Yes
  • No

0 voters

Proposal B
  • Yes
  • No

0 voters

1 Like

I voted no because i don’t agree with the relocation of all COMBO rewards only for the pool COMBO/ETH, otherwise i have no problem with the other 2 points.

Hey Jeremy, thanks for the comments!

Do you have an alternative proposal you want to add? For example, reallocate some percentage of the rewards to combo/weth, and the rest split between the other pools?

1 Like

Hi Blazar,

I would suggest this alternative: about 50% rewards for the COMBO/ETH pool then the rest could be split with the other pools (excluding USDC/ USDT & WBTC& WETH pools).

what do you think ?

1 Like

Added your proposal! :grin:

Seems the main difference between the two proposals is whether to allocate COMBO to every pool.

We start by incentivizing every pool and distribute COMBO among all users, but have collected much feedback from the holders to concentrate the resource on the COMBO/WETH pool first as it’s in fact the most relevant pool to Furucombo. I kinda agree on that and vote for proposal A for the moment.

1 Like

Glad to see discussions here :slight_smile:

This is our first proposal to discuss with the community how to allocate rewards; expect to see more proposals when we have new rewards/protocols to join.

@jeremystrike What are your thoughts on Proposal A & B?

I understand why the majority wants to have all the COMBO rewards on COMBO/ WETH pool.
Probably it would have less selling pressure even though i’m not 100% convinced anymore about that. i’m very much involved in other projects who made such pool and it turns out people where selling the tokens.

I would assume most of the people who agrees to have all the rewards focus on COMBO/ETH pool are either invested in the project a long time ago or you farmed it and you have a lot of tokens available.

Farmers like me who started to farmed this token few weeks ago doesn’t have that many and would like to continue to farm this token and then being able to reinvest those rewards on the COMBO/WETH pool.

If you allocate 100% of the rewards to COMBO /WETH you finally give the opportunity to give more COMBO tokens on people who probably have already a lot. What is the goal: to have more holders or few big whales ? How do you plan on attracting more holders if they cannot farm the token?
Rule number 1 in farming is: never buy the token to farm the token.

Last point for my side. I have plenty of QUICK tokens having to be reward in QUICK is not attractive anymore as my goal is to diversify my portfolio by using my QUICK tokens.

By the way Proposition B is not fixed we can still negotiate. However the idea is to still give the opportunity to carry on farming the Furucombo project token.

Hope my explanations makes sense :slight_smile:

3 Likes

More of a fan of Proposal B over Proposal A.

However, I would suggest a potential Proposal D (next to @jeremystrike’s Proposal C lol):

Allocate accrued rewards into a COMBO DAO Treasury and have it vested for 3-6 months (assuming more LM programs will emerge in the interim). Once these programs have expired/concluded, a good chunk of COMBO should be within the DAO Treasury; giving the community a bit of work to do in determining how these funds should be utilized. By this time, vCOMBO should be up-and-running.

1 Like

Thanks everyone for participating! We have reached a quorum (70%+ on any proposal) around Proposal A. We will implement the adjustments to the farming pool rewards accordingly.

1 Like

Due to we got hacked in the past and using COMBO token to mitigate users, we already have some potential selling pressure, this is the most significant difference between us and other projects, otherwise I think we will definitely allocate some COMBO token as rewards to other pools to have more holders.

If we apply 6 months vesting schedule to those COMBO rewards, maybe it’s a workable plan? At least we can lower down the potential selling pressure.

1 Like

Interesting idea, keen to know how others think about this?