Dear ref community,
As the founder of Octopus Network, which is a multi-chain network built around NEAR Protocol, I would like to propose doing a considerable amount of $OCT-$REF token swap, which I think will benefit Ref, Octopus, and NEAR eco as a whole. Here is the proposal:
The Octopus Network is a multichain cryptonetwork for launching and running Web3.0 application-specific blockchains — appchains. Appchains in the Octopus Network benefit from flexible and cost-effective leased security (LPoS), out-of-the-box multichain interoperability, complete infrastructure, and a ready-to-be-engaged community. The core of the Octopus Network is the Octopus Relay — a set of smart contracts running on the NEAR blockchain, aka mainchain, that implements the security leasing market.
- 1M USD worth of OCT for 1M USD worth of REF
- Token swap rate will be determined by the market price on Coingecko at the time of token swap.
- Token swap happens immediately after if the proposal passes
- As an immediate next step, Ref.finance DAO will pool the OCT received with its REF treasury to create an LP position on the REF <> OCT Pool. Similarly, Octopus will also pool the REF received with its OCT treasury to create an LP position on the same REF <> OCT Pool. As as result, the token swap will add ~4M USD liquidity to existing REF <> OCT pool.
- Public commitment to lock in values for 2 years, and not to sell any tokens.
- Ref.finance DAO will add a new DAO member from the Octopus team.
Why this makes sense for OCT
- We share a similar focus to grow the NEAR ecosystem
- Ref.finance is the first and currently the largest market on NEAR native runtime that has a good user base and user traction
- OCT has the largest trading volume on Ref.finance compare to Uniswap, Gate.io, MEXC, etc.
- Ref.finance has a structured incentive program for the Octopus ecosystem projects.
Why this makes sense for REF
- OCT plays an important part in the NEAR ecosystem, and it unlocks the Substrate-based application-specific blockchains to be deployed on NEAR. Ref.finance is focused to work closely with NEAR ecosystem and to grow together. A token swap signals a stronger support by the Ref.finance to Octopus ecosystem.
- Octopus has a dynamic ecosystem, started with Debio as the first appchain, now the second appchain Myriad is doing an IDO on Skyward, and Octopus is planning to launch 1 app chain in every 3 weeks in the next 6months. The token swap signals a deeper collaboration, that of all of the incoming Octopus ecosystem projects will create their first market on Ref.finance, hence brining more users and liquidity to Ref.finance.
- Exposure to the Octopus ecosystem.
I wish you will find the proposal make sense.