[delivered] Increase liquidity pools for Incognito DEX

Objective: Launch Pool V2 & attract $900k in liquidity pools on Incognito DEX

Length: 2 month

Key results:

  • +900k by July 30
  • Release Pool v2 by July 17
  • Release cross-pool trade functionality
  • Release pUniswap

Note:

  • In June we have launched privacy mode for Kyber (LIVE)
  • Incentives program for liquidity provider will be redesigned LP + Pool = Pool V2
  • Permission-less listing for your ERC20 or BEP2 token
  • Cross pool trades. This functionality allows users to trade any coin to any
  • See pDEX v2 design

21 Likes

@andrey COOL!!! :volcano:

11 Likes

Hey guys!

Let me give a quick update regarding Increasing liquidity on the pDEX.

Dry facts

  1. We started a month with ≈ $3M in liquidy pools and at this moment we have ≈ $2.9M (-$100k VS + $900k)

  2. The Pool V2 is delayed, a new estimation ≈ mid of July.

Notes to discuss

We should accept that this activity is failed. We learned from this month a lot and already working on improvements.

I am thinking about to remain the goal for the next month and try to accomplish it.

Some of the activities we work on:

  1. Redesigned the Pool V2 which contains a lot of feedback and suggestions from the community

  2. Started communication with lending platforms to find the best way to power liquidity

  3. Integrated liquidity pools from Kyber Network

Think big

Also if you have ideas on how could we maintain 10X more liquidity, feel free to share your thoughts

12 Likes

Hi,

I would suggest that we give the user more visual feedback in the app according the rewards they can expect, if they provide liquidity. This data should be in real time.

We have now a line with “Exchange Rate:” and “Pool Size:” we could just add two more lines e.g “Your Expected Pool Share:” and “Your Expected Weekly PRV Rewards”.

So the user will immediately see what kind of rewards he can expect. Moreover it will invite to “play” around with numbers in order to see how many rewards or how much pool share the can achieve. I belive this little feature could help a lot. Maybe it would be even better to highlight this data even moren within the UI.

6 Likes

Hi @sato

Thanks for your comment. At the moment everybody can play with numbers here and see their expected pool share and PRV rewards in the spreadsheet.

Turning to the question of visual feedback in the app, we are planning to add this feature in the pool v2. So users will be able to see their reward growth in the real-time, it will compound every 15 minutes. You can check out the details in the announcement.

7 Likes

Thanks @elena , this sounds great.

Acccording the spread sheet, it feels still annoying to me that we use here google sheets etc. I personally do not use any google products anymore. I´m here to support this project, because I do care for privacy. Thus I was really confused when I saw it the first time. Maybe we can find a better solution in the long term.

4 Likes

I try to understand. I dont understand yet what is this mean.

2 Likes

We set up a target to increase liquidity pools in June, but haven’t achieved it.

2 Likes

ow…ok i got it.

2 Likes

Incognito is part of eth ecosystem. Listed ads here https://etherscan.io/tokens is one option to consider.

Why not cmc?.

Because almost of big project are sponsored on etherscan within the long period And that is targeted user. Incognito require marketing. CMC is to general user.

Good product without nobody know is like the hidden gold.

No customer no purchases :grin:

No honey no liqudity :smiley: :muscle:

5 Likes

A few thoughts come to mind.

  1. What about making all the user’s accounts part of the pool?
    I’m thinking of how Constant handles some of their products. If you hold Bitcoin on their platform, you earn 10% automatically, because it’s being used in liquidity pools like Incognito’s. You don’t even have to put it in a special account. If it’s there on Constant, it’s in the pool earning 10%, and it’s not locked up; you can withdraw it at any time. Additionally I am thinking of Constant’s Flex account. If you deposit funds into Constant, you can opt for it to be in the Flex account, which automatically earns 4% because it’s being used in P2P loans (Incognito would just use it for liquidity instead of P2P lending). Again, no lock-up, and you could build in an opt-out feature (maybe like a “no pool” account) for those who don’t want to participate.
  2. Could a crypto duster feature be used to add dust to liquidity?
    Dust probably wouldn’t add a ton of liquidity, but I think a lot of users would love something like this–the ability to, without fees, convert very small balances into something usable. (Enabling us to pay fees with dust was my other duster idea, but is unrelated to liquidity.) While dust wouldn’t contribute hugely to liquidity, it would accumulate over time.
  3. Allow validators to auto-withdraw node earnings directly into the pool.
    This is more of a subtle psychological trick. You know how people are with money. If they have it in their hot little hands, it gets spent. But if they don’t see it, if it gets automatically put into a Roth IRA, for example, they are less likely to spend it. Out of sight, out of mind. I think if validators could auto-deposit node earnings directly into the pool, they might be less apt to cash out the funds.
  4. Instead of paying out interest on the pool, compound it.
    Actually, I think this might already be what you plan to do with pool v2. Instead of paying interest out to Account 0 every Monday, just compound it within the pool–similar to how the current staking pool compounds. This way the user’s earnings are constantly adding to the pool. Again, I think this is already the idea you have for pool v2, and I think it’s brilliant.

Anyway, I think if you entertain my first suggestion, it actually encompasses all the other suggestions. If you have funds on Incognito, they are automatically in the pool–unless you opt out. Your dust, your PRV, your node earnings, the rewards you get for earning badges–all of it would be contributing to liquidity and compounding automatically without the need for a special pool account.

12 Likes

I like your ideas! I am a big Constant investor and you mentioned all the great reasons why people like it there!!

6 Likes

Hey guys!

I just updated the proposal and going to keep working in this direction in July.

With launching Pool V2 we have very good chance to increase pDEX liquidity pools and reach the target. In parallel, we work on integration with Uniswap and cross-pool trading functionality.

I will keep you posted.

9 Likes

Hi @andrey
I feel interested for launching pool V2. However, you should make sure the case of down on the main wallet network does not happen again.

The incident was very disturbing and affected the community’s trust in the incognito project.

Project team must ensure that the network/app is stable before another product is launched.

7 Likes

Totally agreee.

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@Gold I’m new here (this is my first post!), but just wanted to say these are fantastic ideas and voice my support for them, especially the first one borrowing from MyConstant.

@andrey I’m very excited about your work on this. My opinion - I think there are a lot of opportunities for Incognito to solve its current liquidity challenges through stronger liquidity incentives for the current community, without needing to rely on external liquidity providers as much. I think having the liquidity be funded as much as possible by the community would be ideal!

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Yep, I think the Incognito community should take advantage of being first contributors :slight_smile:

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In order to increase liquidity and in general it would be important to find a better solutions for handling the private keys. Once the web version is coming it would be greate if people could store and handle everything with a hardware wallet like the ledeger nano or trezor. Because I highly doubt that somenone feels comfortable to put 50k or more into liquidty if the keys are stored on the phone.

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Hi @sato, you can store Account Keys in different locations. For example, you could copy and send them via email to yourself or place them in a word document in your computer. If you wish to be in physical possession, then you could take the time to write them down or photograph them and store them in a safe place.

2 Likes

I’ve been waiting to add liquidity and that’s the only thing stopping me - I can’t see figures. On the standard stake there is the 37% apy, but when wanting to add liquidity there’s no indication ? Or I just haven’t come across it?