🗳️ Governance Proposal: Create PSB-SGB SuperFarm with SGB Rewards
TLDR: Utilize SGB liquidity incentives to create a new PSB-SGB SuperFarm incentivizing 4m SGB over six months
Why PSB-SGB?
SGB and PSB are central assets to our contracts on Songbird Network. Higher liquidity for this pool will minimize volatility when the market becomes turbulent and create better rates for our exchange's two most popular assets.
Where will SGB rewards come from?
We will fund the SuperFarm with SGB liquidity rewards. These will be paired with PSB farm emissions for double rewards on top of fees earned from swap volume on the pair.
IMPORTANT: Creation of a new farm
Creating a PSB-SGB SuperFarm means that emissions will have to be redirected from the current PSB-SGB farm. This means the current PSB-SGB farm will halt emission rewards, and APR will only include swap fees. Users will have to un-stake their LP and re-stake in the new SuperFarm, resetting their reward rate.
It’s important to note that all users will start over at 0%. However, rewards will change from only PSB to both PSB & SGB.
Voting
If you are staking PSB in a single-sided SAR NFT you’ll be able to participate in the vote.
1 PSB staked in single-sided SAR NFT = 1 vote.
Your voting power includes the number of PSB staked across all your single-sided staked NFTs.
A snapshot is taken once voting starts, and only the PSB staked in a single-sided SAR NFT will go toward your voting power. There is no gas fee to vote.
- To vote, visit our Snapshot page
- Once live, find and click on the open proposal
- Read the proposal details, and if you have questions or concerns, you can ask about them in our Discord
- Connect your wallet
If you encounter issues connecting with Bifrost, go to “settings,” click “WALLETCONNECT” and use the QR code scanner to connect
- Choose your decision and sign to confirm your vote
Vote start:
Dec 29(see Snapshot proposal for the exact hour)
Vote end:
Jan 3 (see Snapshot proposal for the exact hour)
