DIP-14: Migration of 1.5 Million DODO Tokens to Polygon Mainnet for Liquidity Mining Incentives

Abstract

DIP-14 proposes to migrate 1.5 million DODO tokens to the Polygon Mainnet for liquidity mining incentives.

Motivation

As a result of DIP-9, we migrated 2 million DODO tokens to Polygon for use in liquidity mining programs, and we have had an ongoing liquidity mining campaign for the past 4 months. This campaign is about to come to an end. The campaign achieved more than $67 million daily average trading volume, more than $30 million average TVL, and more than 110k unique traders on Polygon during the campaign.

By participating in Polygon’s Liquidity Mining (LM) 2.0 campaign, DODO is able to get MATIC rewards from the Polygon network (estimated 50k MATIC per month). We propose to match these rewards with our DODO rewards, and to launch a new liquidity mining campaign for next few months until the end of the LM 2.0 campaign. To do so, we will need another 1.5 million DODO tokens to be migrated to Polygon network.

Summary

If DIP-14 is passed, the DODO protocol will end ongoing mining campaign on Polygon, migrate 1.5 million DODO tokens to the Polygon mainnet, and launch a new joint mining campaign with DODO and MATIC rewards.

Vote

Link: Snapshot
Vote Period: May 12, 2022 13:00 to May 17, 2022 13:00 SGT

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