Discussion on Creating a LP for $PLAY

First time posting. Feel free to feedback :grinning:
Although Oven is down and unavailable currently, I think it is better to proceed discussion on Liquidity Pool (LP) of $PLAY.

Assuming the Oven is up and running and a lot of $PLAY have been minted, we can choose to focus on providing liquidity on the following protocol :

A. Sushiswap
-We have YPIE/ETH pool on sushi before so it makes sense.

B. Uniswap
-We have YPIE/ETH pool on uniswap before so it also makes sense.

C. Quickswap (polygon)

  • Both MUST (cometh) and GHST (aavegotchi) are mostly active on Polygon.
    -Also Polygon fees are much cheaper than Ethereum currently.

D. Loopring (L2 zkrollup)

  • We incentivized BCP in Loopring before
  • Bridging PLAY only cost PLAY if I recall correctly.

E. Balancer

  • One of our member seeded the pool and we can take advantage of this.
  • Flexibility of weight (70% PLAY/30% ETH)
  • Reduces impermeant loss

F. Anything you can think of.

I made a simple poll. Please help give some of your ideas and make the most playful :space_invader: :pie: possible

LP for PLAY
  • Sushiswap
  • Uniswap
  • Quickswap (Polygon)
  • Loopring (zkRollup L2)
  • Balancer
  • Others (please list below)

0 voters

2 Likes

I really like the flexibility of Balancer

I voted Balancer as well. I included Uniswap too because that’s where Dharma app routes through and I’d appreciate the fiat on-ramp :innocent:

Also swappers can earn BAL if PLAY got whitelist. Balancer is also a good way to compensate for GAS fees.
Loopring and Polygon are gasless though.

1 Like

I think SUSHI and BAL. Sushi is big enough and balancer had all the right processes in place to keep the assets ~balanced~ I think those two are great choices.

I personally feel a lot of new headway in the AMM and L2 space is about to be unleashed. In addition we have a revamped farming system in the pipelines.

The most flexible short term options would be L2 in that in a month or two, it would not be very expensive to migrate.

Balancer has lower capital requirements than alternatives, but at the cost of higher slippage when it comes to uneven pools. Lately I’ve been questioning if Balancer uneven weight pools are the most efficient route to launch new indices. I think it may be wiser to leverage that capital towards a solution maximizes the concentration of liquidity behind the current market rate by going 50/50.

We are effectively paying for the service of providing liquidity, and I feel incentivizing 50/50 may lead to the best experience for buyers and sellers.

Loopring and Quickswap both serve as effective 50/50 liquidity sources, and give us more flexibility to migrate later with their lower costs. We currently have liquidity on Loopring, and can revisit that.

There is synergy with Quickswap, since a few tokens are hosted there as well, and with AAVE now launched there, can cheaply leverage into PLAY without selling ETH which may provide interesting affordable new routes to exposure.

Loopring does not require additional tokens though, while Quickswap requires users to hold Matic. In addition Loopring does not require changing networks from the ETH network, which may simplify the user experience and potentially has an edge on accessibility.

1 Like

I voted for Balancer, but I really second your opinion on Loopring. As far as L2 goes, Loopring is much easier to understand then Polygon. I spent alot of time trying to use that PoS Bridge…Loopring is just a wallet to wallet transaction. It’s cheaper to move the Liqudity around as well. AND you don’t need WETH

3 Likes

Hey all and welcome to the forum @ricJones_Grizzy! Great first post.

It’s an important discussion to have. I agree that the flexibility of Balancer is nice which can minimise IL in certain cases.

There have been some ongoing developments regarding our liquidity programs that some of you might remember going a way back, so expect a full proposal outlining a new approach in the near future.

It hasn’t been my area of focus so I will wait for others to chime in, but as I understand it would strengthen our relationship with one protocol and bring severe benefits for DOUGH holders.

I will link to the proposal once it is completed.

2 Likes

Single asset liquidity.Balancer.