New Project Airdrops to the $REF Stakers

Tokens
1

TL;DR

For the $REF stakers, let us set the airdrop amount for new project tokens that will
be listed through REF and/or through Skyward Finance.

Proposal Purpose

To enhance the $REF token staking utility and to build the solid community.

  • This proposal can increase the holding / staking value for $REF token holders /
    stakers.
  • It can improve the solidness and soundness of the Ref Finance ecosystem.
  • As already seen in the market cases like Osmosis, Luna, and mor, by airdropping
    tokens to staking holders, quantitative figures such as TVL and qualitative figures
    such as holders’ loyalty would be obtained.

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Proposal Details

REF Finance is an AMM DEX where liquidity providers can get $REF tokens by
staking LP tokens. Users can get more $REF tokens by staking the $REF token itself
as well. (https://guide.ref.finance/)
$REF token has a community-driven tokenomics from the beginning. As shown in
the Ref Finance roadmap for 2022, there are many trials and correspondences
including adding a pool-based stablecoin, providing lending features, and
providing an orderbook style DEX.
Ref Finance is a major contributor to the $Near ecosystem as well, and currently
has around $0.1B of TVL. With the rise of $Near value in recent timeline, Ref Finance
has high potential and market chances for the growth of TVL and the number of
total customers.

If the airdrop of new project tokens that will be listed through REF and/or Skyward
Finance to users staking REF tokens could be started, the utility of REF tokens would
be increased.
Many of the Near-based DeFi users are also the stakers of $REF. If such a proposal
is accepted, it will be possible to further increase the use of new Near-based tokens
within the REF ecosystem. It would ultimately increase the soundness of the REF
ecosystem as well.
On the other hand, this proposal will not only benefit users and liquidity providers
who have previously contributed to the community, but also provide additional
rewards for those without sacrificing current $REF volume.

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To summarize,

  • We can increase the number of users flowing into Ref Finance.
  • We can build the $REF community even more solid.
  • We can increase interest in projects listed through REF and Skyward Finance.
  • We can contribute to the solidness of Ref Finance and Near ecosystems.
  • And we can make more pathways to the brighter future.

Benchmarks

Osmosis

Osmosis is the most representative and the biggest DeFi(DEX) on the Cosmos Chain.
Osmosis expanded its influence quickly by airdropping $OSMO tokens to early
$ATOM stakers. Also, Osmosis is increasing loyalty of holders through token airdrops of new internal/external projects. For example, Solana-based project Sunny
announced the initial airdrops to Osmosis holders recently.
Osmosis is also known to increase the amount of airdrops for related project tokens
to holders along with the expansion of its interchain ecosystem. As of January 2022,
Osmosis has a TVL of $1.1b. (Defillama)

Luna (Terra Station)

Luna provides rewards to its stakers through Terra Station, the official wallet of
Terra-Luna ecosystem. Luna maximizes staker rewards through various protocols
from its ecosystem and keep its continuousness. Through Terra Station, users can
receive airdrops of various tokens from the Terra-Luna ecosystem, including Mirror
Protocol, Anchor Protocol, and Pylon Protocol.

Anchor and Mirror are known to have grown rapidly through airdrops through Terra
Station. It has resulted in a sharp increase in the number and influence of Luna’s
holders. In addition, this airdrop strategy is known to have contributed to the rapid
growth of Luna’s ecosystem. As of 2022.1, Luna has broken through the all-time
high price and is ranked 2nd in TVL on a chain basis. (Defillama)

9 Likes
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Great proposal, I’d like to see airdrop not only affect REF token holders, but also those who provide liquidity to pools with REF.
As example REF-wNEAR.

We have several significant projects under development in our NEAR ecosystem, and I think it would be interesting for projects to participate in such an event.

Plus, it added some element of true decentralization, where tokens come to those who help the ecosystem.
Because Ref Finance is one of the nexus projects of the NEAR ecosystem, it will be a significant event.

3 Likes
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I think standing from a coding perspective, tracking down Ref token holders would be more feasible then LP providing, so starting with that can be great=))

1 Like
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We can also use a service like Nearify to automatically give xREF holders a role on our discord that gives them access to special channels with exclusive content and prizes. For example alpha news, raffles for airdrops, WL spots NFTs, etc.

3 Likes
5

Good proposal in general. I suppose that both stakers and liquidity providers (pair with REF) should be airdropped.

6

we should also consider integration with croncats to automate the airdrops! https://twitter.com/PoderCripto/status/1502693746428809223?s=20&t=FfwExyJKzciePqmSzrs3qA

1 Like
7

Hmm but then when u really think of it, the wNEAR-REF farmers have already received other kinds of partner tokens like $DEBIO or $AURORA farming reward before, which is no different than airdrop. Ref farmers was distributed extra tokens and the question of how much depended on the number of tokens they put into the farm

What I’m trying to convey here is we already do airdrop. But then the people just don’t call it airdrop, instead, it was “boosted reward for the farmer” LOL

So if we want to make new projects airdrop to $REF stakers whenever we reach a partnership, just re-allocate the strategy to use those tokens from “boost reward to farmer” to “direct distribution to $REF staker”

2 Likes
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Agree with this. However, “airdrop for $REF hodlers” definitely sounds much better in terms of marketing for both partner projects and for our project. Therefore, I still recommend to working on doing retroactive for REF holders.

9

true=)) maybe Ref can do this with future partner project cough cough Burrow cough cough @Alen

2 Likes