PROP #3: Allocate $8000 USD worth LPFi for LPFi-PAI bonding on Penguin Finance

[aperire]

PROP #3: Allocate $8000 USD worth LPFi for LPFi-PAI bonding on Penguin Finance

Date: Jan.26th 2023
Author: Joohwan Lee
Status: Proposed

Summary

I propose to allocate $8000 USD worth of LPFi to create a bonding pool for LPFi-PAI on Penguin Finance.
$8000 USD LPFi ≈ 213350 LPFi (≈4.8% of total supply)

Motivation

Penguin Finance recently partnered with Parrot Finance to provide grants for Bonding, which in summary works like this.

1. LP Finance DAO allocated $8000 USD worth LPFi as bonding rewards.
2. Parrot Finance purchases 2 weeks worth of bonding ($2000) if we set up 8 weeks bond ($1000/week)

This would allow LPFi token's liquidity to significantly improve allowing better experience for users.

For details on grants,
https://pngfi.medium.com/penguin-finance-marketplace-on-neptune-61e8dfac387e

Actions

1. Allocate $8000 USD worth LPFi to Penguin Finance bonding pool

[TomintheToon]

Do the trading fee earnings accumulate to the LPfi DAO? Looks like a good idea to me.

[aperire]

Yes! And also LPFi liquidity would significantly in support from Parrot Finance.