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[POLYGON] Trading Rewards Program - Experiment #1
Experiment with offering COMB rewards as an incentive to traders who direct their trading volume to Honeyswap. This is analogous to how we use COMB to incentivize LPs who stake liquidity into Honeyswap. (Link to forum post with discussion: https://forum.1hive.org/t/request-for-feedback-honeyswap-trading-rewards-pilot-program/3953/25)
This is effectively similar to how centralized indexes will offer fee discounts to high volume traders. However, rather than a discount, we will offer a reward. Traders collect pCOMB that is airdropped to them weekly based on their proportional balance of fees paid from the previous week compared to total fees collected.
FLOW MAP: https://lucid.app/lucidspark/invitations/accept/inv_c29db42e-bfb9-4497-8eda-19204557223b?viewport_loc=-745%2C-762%2C2799%2C1383%2C0_0
High level, proposed user flow is as follows:
- Jelly rewards run in 8-week seasons
- User swaps an approved token pair on Honeyswap
- User earns rewards points - this is not a token, just credit when we run weekly script
- JELLY reward at base is equal to wETH value of fee collected from swap (0.15-0.3%)
- JELLY reward is proportional to their contribution to total fees collected
- Users will have the option to double their reward by staking their current week's reward + WETH
Discussion with @MrClottom
Simplest implementation:
- Manual script run once a week to index trades for weekly time period
- pCOMB rewards stream to a dummy pair contract that accumulates pCOMB. pCOMB is then airdropped to users based on their trading rewards volume + multiplier each week.
- weekly airdrop, claimable from Honeycomb wallet (new nav / UX element)
major changes:
- no streaming for trading rewards
- weekly distros
- claimable from Honeycomb wallet
- no front-end points -> you accounted for x% of the trading volume
3 main parts:
- contract
- snapshot generation script
- UX / Front End