I understand the promotion part, but what will be built/developed?
Will you be the back-end/front-end engineer?
[Shipped] Increase Incognito pDEX volume and liquidity pools
They going to work on pDEX improvements. Such:
- Add Price Chart
- Trade History, etc
- Implementing liquidity pool incentives (tool: prv rewards)
I feel once we start pushing it up, there will be a list of improvements.
@andrey, Congrats! Your proposal got 4/5 votes and has been moved to the funded category. Please keep the community updated!
It seems that one person did not accept the proposal. Imho, in such cases, disclosing empty vote or the reason of abstain/reject vote would contribute to the democracy of platform. Besides, the reason may be a lesson-learned item for the future proposals and increase their qualities. @annie
Yep, the board must reach consensus at least 3 votes out of five to get project funded.
Hey guys, friends, community, team.
For the past week we have launched incentives for the liquidity providers.
-
It means that if you add liquidity to the pairs pBTC <> PRV or pXMR <> PRV you will start earning interest accordingly to the rates
-
The interest % rewards will be landed on your pDEX wallet automatically every week
-
We still thinking about what would be the best day of week to set up for reward distribution. So if you have a suggestion and reasons why you think so, please share it here
Liquidity already started coming into the PDEx. I’ll keep updating you regarding the results every Friday, but feel free to follow changes of the pools any time https://pdex.incognito.best
i think this is a great suggestion. @annie let’s do that for the next round of proposals. i think @ning is also working on adding proposal voting onto the site so that it’s all transparent. once proposal voting is live on the site, i believe the feedback will be also public on the site.
growth – @andrey thanks for the update. i want to circle back to the proposal’s promises on deliveries. can you share if we hit +$20k in liquidity in week 2 yet?
product – @tien can you share the exact ship dates for these features? these features were promised to ship by the end of the month, and it’s almost 1/2 of the month already. if you have an early mockup of these features or the ui/ux flow to show how they work, please share them. i think it’s really helpful for the community to understand how they work and give feedback to your team too, before they go into development.
Hey @duy thanks for the feedback. So far we have quite interesting results.
pBTC <> PRV pair
For the pas four days were added
- ~ 51k PRV
- ~ 3.45 pBTC
Which is equivalent of ~ $45k
pXMR <> PRV pair
- ~ 17k PRV
- ~ 143 pXMR
Which is equivalent of ~ $15k.
I started topic on Monero Reddit
@everyon please join the discussion. Let’s try to convince more people to join.
Hi @duy, this is the ship dates of the features:
- Price Chart: 27 April
- Trade History: The app already have it
- Buy PRV: 07 May
- Liquidity Pool Incentives: 20 April
Price Chart (testnet data)
Buy PRV: User don’t need to deposit and withdraw anymore.
Removing the need to deposit/withdraw will be welcomed by many. Are pDEX(Withdraw) no longer in use then, or are they used in the background? Does it affect current pDEX(Withdraw) accounts that are in use/have funds?
No, pDEX will not have any changes. Users still need to deposit/withdraw in pDEX screen.
pDEX screen will be changed to new flow after buying PRV work properly.
I read it as a general “no need to deposit/withdraw”, but it only relates to buying PRV. Got it, thanks.
Hopefully by the end of this month we will close the liquidity question and will focus more on product and user growth.
REPORT 13 April - 17 Apr 2020
Finish:
- We finalized new pDEX flow. It help users trade directly with their account, user don’t need to deposit/withdraw anymore with new flow. We will test it in buying PRV feature
- We had final design for price chart.
- We finalized reward calculation formula for pdex liquidity holders.
In progress:
- Liquidity reward: We have done the implementation. We are testing it. It will be release next Monday
- Price chart: We are implementing it.
Some updates from the growth activity
We got quite good results for the first week of the campaign;
+$65k in total for pBTC & pXMR pools
+$690k in total for USDT & USDC pairs
Please find details below.
The same time we faced problems for attracting liquidity from monero & communities and collected several request for improvements.
- difficult to convince people to add liquidity who see PRV in the firs time
- not clear guidance for adding/removing liquidity
- difficult to manage staked assets (dashboard with details)
- some confuses from users who trade with “empty” liquidity pools
All feedback are added to the backlog and team work on improvements.
Below you can find a breakdown of changes of the liquidity pools.
liquidity pool PRV /pBTC (~$50k)
Apr 10 | Apr 17 | Difference | |
PRV: | 88,091 | 143,094 | + 55,003 |
BTC: | 6 | 10 | + 4 |
liquidity pool PRV /pXMR (~$15k)
Apr 10 | Apr 17 | Difference | |
PRV: | 31 | 17,492 | + 17,461 |
XMR: | 1 | 146 | + 145 |
liquidity pool PRV /pUSDT (~$360k)
Apr 10 | Apr 17 | Difference | |
PRV: | 148,292 | 551,252 | + 402,960 |
USDT: | 65,249 | 252,159 | + 186,910 |
liquidity pool PRV /pUSDC (~$330k)
Apr 10 | Apr 17 | Difference | |
PRV: | 90,684 | 459,980 | + 369,296 |
USDC: | 40,866 | 214,441 | + 173,575 |
Those are fantastic results, and interesting feedback from those communities.
I have a question: Is the increase in liquidity for those pairs shrinking the pools for other pairs, and if so, is that fine? Are people just moving their prv one pair to a different one, or is it mostly new?
yep, for BTC & XMR I assume that funds moved from BTC <> XMR pair to BTC <> PRV & XMR <> PRV.
I think it’s totally ok, coz it make more liquidity focused on just 2-4 pairs which allows higher trading supply.
Cool! Thanks for explaining.