Polygon Liquidity Mining program

Summary

Start liquidity mining program to incentivize borrowers on Polygon markets.

For: Allocate 6,666 CREAM for liquidity mining program on Polygon

Against: Do nothing

Background

Liquidity Mining program is definitely a powerful means to expedite the development and strengthen our partnership with Polygon. Besides, with more CREAM we put into the program, Polygon team will provide MATIC to incentivize the community.

It’s a great opportunity that we can work closer with Polygon and grow the ecosystems altogether.

Allocation

6,666 CREAM (about $1mm at CREAM $150) for liquidity program.

All the incentive will be allocated in borrowing. It’s the most efficient way to increase the utilization and market size. The amount to be distributed will be decided by the core team every week.

1 Like

On which tokens do you plan the incentives?
And do you plan to do it like aave, so for lending and borrowing? I know its good for tvl if the people fold their stables but other than that it wont bring much value to cream.

Even tho i dont have a problem if we increase our tvl by a billion dollar and the token price will moon.

Think it would be important to have an answer to those questions before we start a proposal

1 Like

CRETH2 a cream product should definitely be incentivized

2 Likes

The current proposal is to have an allocation for the polygon liquidity mining program on Polygon first, testing out a borrow-only incentive scheme that pushes more protocol fees/TvL per CREAM provided in liquidity mining.

We are definitely adjusting the program to optimize value for the protocol generally and not for those folding stables specifically.

The voting will begin shortly
https://vote.cream.finance/#/cream-finance.eth/proposal/QmUMsPSa2BBBrxvR3WUh4uC2yfHBCwnf8CiGfJfLdYV47R

I like this overall. Seems well thought out. Could be a good way to increase TVL and earn some fees, plus establish Cream as a reliable platform, particularly if AAVE rewards end around mid July.