As mentioned in the proposal 14(Proposal 14: Reduce mining reward to 0.2MCB/Block), we have dramatically decrease the MCB rewards for liquidity providers.
For the next round, I propose that we suspend incentivizing AMM liquidity providers on MCDEX, and add MCB/USDC pool on uniswap, for the following reasons:
The principle of distributing MCB rewards should be allocated to those who have contribution to MCDEX. Because of the high gas fee, the liquidity in AMM has little use. We can suspend for now and restart when upcoming product is ready when liquidity can be used for traders.
Currently, since we only have MCB/ETH pool in uniswap, price of MCB is closely related to ETH price. Adding a MCB/USDC pool can help make MCB price stable.
The allocation of rewards will be based on the number of MCB across two pools.
For example, MCB/ETH pool has 50000MCB, MCB/USDC pool has 20000MCB, if a user provides 3000 MCB liquidity on uniswap, you will enjoy 3000/70000 share of rewards.
For - 0.2 MCB / Block rewards, distributed to two pools on uniswap: MCB / USDC pool, MCB / ETH pool.
Against - 0.2 MCB / Block rewards, distributed to two parts: 1. AMM liquidity providers 2. Uniswap LPs for MCB / ETH pool
Vote Quorum: 10,000 MCB.