Loopring onboarding for DEFI+S

GE Name: DEFI+S L2 onboarding
Time frame : July 2021
Hypothesis: Price for DEFI+S is not being tracked well by coingecko and coinmarketcap. If we onboard it to an L2, transaction volume can be generated for this coin in hopes for trackers to update their price feeds with higher frequency. Both coingecko and coinmarketcap are highly used by people (including myself) to check how their portfolio is doing and interesting projects to invest in. Price visibility is therefore crucial.

Description: Use LoopRing’s Liquidity Mining Campaign form (https://loopringexchange.typeform.com/to/T0bgsodw) in hopes we can speed up the process to get listed by them. Their lowest amount of liquidity incentive is 5k , which I believe we could provide in DOUGH.

Metrics: Coinmarketcap and Coingecko updated price feeds for DEFI+S. Volume of transactions in Loopring.
Definition of success: Coinmarketcap and Coingecko will start to list pricing for DEFI+S. This isn’t immediate though, since both usually take some time to find / update their pricing feeds.
Resources: $5000 for liquidity incentive, time to submit form and speak with LoopRing.

Deliverables for GE Champion

  • [ ] Loopring form sent and campaign started.
  • [ ] Communicate with coinmarketcap and coingecko for them to track new DEFI+S available market.
  • [ ] Present results of the GE to the monthly community call.
4 Likes

Hey @dan thanks for putting this together. I agree the price feed of most pies on CG / CMM is currently quite problematic, so a solution like the one proposed through bots on L2 would be quite smart!

Pretty sure we could quite easily list the missing pies on Loopring AMM (BCP, DEFI+L are already there) despite their liquidity mining program, starting with DEFI+s as you suggested.
Happy to dig in more

Happy to help. I only found a shortcut in Loopring with the incentives but if you found another way, happy to hear it :slight_smile:

1 Like

I believe you saw an issue and try to solve it, which is much appreciated. Please help me confirm if my understanding of the situation and next steps is accurate enough:

SoW

  • Snapshot vote
  • Submit form application
  • Provide liquidity
  • Inform CG/CMC about new market
  • Measure the price feed update ratio

Assumptions

  • Loopring transactions will solve the price feed issue
  • Liquidity can be provided in Dough

Action items

  • Define owners for the scoped activities
  • Define if listing will happen through liquidity provisioning program or not. If so, define the amount and token type
  • Define how price feed will be measured pre-and-post implementation