SIMP #2 - Onsen

Locking the SUSHI and ETH in the SUSHI/ETH pool is better than burning SUSHI. It improves the liquidity of the SUSHI token and its locked, which should remove any bad sentiment from dumping fears. Burning sounds good in the sense that its perceived to be good for the price of the token, but in reality that is not the case. I think there’s enough data in the past 2 years that shows that burning tokens doesnt really have a longterm net positive effect on prices and that bull markets happen because of other idiosyncratic factors rather than deflation of token supply.

Placeholder VC has also pointed out in this article - https://www.placeholder.vc/blog/2020/9/17/stop-burning-tokens-buyback-and-make-instead that burning tokens might not be the best value action for productive assets. SUSHI is a productive asset.

Re: the “application fee”, i am assuming the 1000 SUSHI/2 ETH will be adjusted lower as the prices of the 2 go up significantly?

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Good point. The math doesn’t add up here. Will someone please clarify?

Will someone please help me understand how these new Onsen(s) can incentivize liquidity from SUSHI users?

Based on my observation, most of the liquidity do flow to SUSHI-ETH pool due to high returns so wouldn’t potentially adding 58 more pools be overwhelming to SUSHI users? Decision paralysis is a real problem. Maybe there’s a way to strike a balance?

Those are max # of pairs. It’s unlikely that all the pair slots will be filled at once

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Miso isn’t out there so you don’t need to substract it.

Once it is live you can assume that the AP will be deducted proportionally

2000 AP = 1300 midcap - 500 lowcap - 200 gems

If we don’t have 58 pairs at launch the points will be spread among the selected projects
ex: if we have only 1 gem token it would receive the entire AP (200)

Or should the AP be directed to Low-Mid? Keen to have more opinions on this.

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Maybe AP can rotate between midcap, lowcap and gems? Maybe offer protocols the opportunity to promote themselves could be another form of revenue stream…

I would like to propose a DFD/WETH pair. DFD (DefiDollar Dao) is the governance token for the project DefiDollar.

What is DefiDollar ($DUSD)?
DefiDollar (DUSD) is a stablecoin that uses DeFi primitives to stay close to the dollar mark. DUSD provides an avenue for diversifying your stablecoin holdings to hedge against an event where the underlying stablecoins e.g Tether (USDT), DAI deviate from their peg.‌ DUSD is collateralized by Curve LP tokens. For more details, please refer to our docs and join our discord. The project is audited.

Details

  • SushiSwap pool address: 0xb12aa722a3A4566645F079B6F10c89A3205b6c2c
  • Uniswap pool address: 0xac8833b0da01b8f2ca53f549f13b5790066a842d. Has ~$660k in liquidity.
  • The DFD token is already whitelisted in balancer.
  • We would like to co-incentivize the pool with weekly emissions of 50,000 DFD.
  • Would love to add 2eth liquidity to SUSHI/ETH pool and put that up as bond amount, once there is more clarity on the process and the destination for the LP tokens.

Our community expressed interest in having several other sushi pools denominated in DUSD (the stablecoin) - DFD/DUSD, ETH/DUSD and SUSHI/DUSD and we will explore them in the very near future.

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It would be a good idea to have this in a whole new thread. Great way to take initiative though!

In the Sushi / Eth pool it is written that for 1000 USD the rewards are 1.3 suhi per day, I have 2400 USD in the pool, the reward is credited to 1 Sushi per day, why so little ??? How much do you get?

Have you taken into account the fact that 2/3 of your rewards are vested for 6 months?

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DISCLAIMER: Post originally drafted by Philip Arthur Moore, from Frontier, who had troubles posting it here. I am not involved with the project, I’m just the messenger.

On behalf of Frontier I would like to propose that FRONT-USDT be considered for Onsen. Here are some stats:

Information about Frontier Token is available on our website as well as CoinGecko and CoinMarketCap.

Our SushiSwap liquidity is lagging behind other DEXes due to the fact that we deployed the pool later in the life cycle of $FRONT and also users have not been incentivized enough to move their liquidity over.

  1. Uniswap LP’s were able to take part in a few initiatives already to earn on top of their liquidity.
  2. Balancer LP’s are not only taking part in liquidity mining but also earn $BAL rewards.
  3. Mooniswap LP’s also earn additional rewards for providing liquidity.
  4. SushiSwap for now acts as an additional router for 1inch or small-size trades but there is a lack of incentivization in place to increase liquidity. We would like to not only drive more community members towards SushiSwap but also contribute additional token rewards in $FRONT for LP’s, as we’ve done on other platforms before.

Applying to the Onsen program, applicants must send 1000 SUSHI or 2 ETH to be used in permanent, irrevocable liquidity provisioning in the SUSHI-ETH pool to ensure serious projects are partaking in the process.

This is more than okay for us. We are happy to pay this application fee.

Proposed pair must already exist as a liquidity pool with a minimum of $1,000 in TVL before applying.

This is done.

1000 SUSHI or 2 ETH must be sent to the specified wallet, with the message containing the token’s ticker and proposed pairing, i.e “SUSHI / SUSHI-ETH” or similar.

Pending more information from SushiSwap team.

Applicant token must have an age exceeding 14 days, must not charge fees upon transfers and is highly recommended to be Verified on Etherscan.

This is done.

Applicant token must be listed on CoinGecko as we use their platform to provide a consistent way of evaluating the tokenomics for all Onsen applicants.

This is done. See above links.

Applicant token cannot be a token that has no intrinsic value proposition, and must have an overall function or purpose for existing. Tokens that are perceived by the community or core team to have no existential purpose beyond that of being traded will be rejected.

The core mission of $FRONT is to act as a sort of glue that incentivizes as much participation into DeFi as possible. We believe that our core value prop and reception have proven to us that we are on to something. We hope that the SushiSwap community feels the same way.

If the project applying to participate is headed by Anonymous founders, we will conduct a basic due diligence to ensure no malicious projects are being included in the Onsen program.

We are not anonymous. We are audited by both Quantstamp and CertiK. We cannot rug pull other DEXes but we can definitely inject more liquidity into SushiSwap and push hard to get more liquidity over to the platform.

Thanks a ton for your consideration.

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So the total rewards won’t appear until after 6 months? The ones that we can see are 1/3 of the total, that is, those that we can collect?

At what point will tokens be officially marked as Midcap, Lowcap or Gems?

Will there be a specific snapshot time? Has the determination already been made?

Hi Sushi Community -

On behalf of TrustToken (TRU) I would like to propose that TRU-ETH be considered for Onsen. TrustToken is the native token of the TrueFi Lending platform.

Please let me know about next steps or if I should follow-up with someone in particular via Discord. Thanks!

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We would like to add Amp to the proposal to be included in Onsen as well. We had a successful run as a menu of the week item and our community is excited about the possibility of making it a permanent affair.

UPDATED Summary

Amp is the token used as collateral on the Flexa network (http://flexa.network). The token is staked by the community to wallet projects to secure digital payments at merchants. There are currently two projects (Gemini Pay and SPEDN) that have integrated the Flexa SDK to enable real-world spending at merchants like Nordstrom, Lowes, Gamestop, Petco, and Baskin Robbins (yum!).

Abstract

Flexa is ranked #14 on DeFI Pulse with $130M locked, and #1 (90% dominance) in Payments.

(https://www.defipulse.com/flexa )

Current liquidity of AMP-ETH on Sushiswap is: ~$15,000 USD

AMP-ETH SLP contract: 0x15e86E6f65EF7EA1dbb72A5E51a07926fB1c82E3

*Note, Amp was formerly Flexacoin (FXC) but there was a 1:1 swap of the tokens earlier in the month due to an upgrade.

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We would like to propose Node Runners as a candidate for Onsen Gems category.

Node Runners is a collectible cards game aiming to bridge NFT with DeFi. Our goal is to bring more utility to NFT space. Users can farm or buy NFTs, stake them to earn NDR or use them in the game. We are also collaborating with other NFT projects to bring more value to collectible items.
NDR token is used in our game mechanics and and governance.

Website: https://noderunners.io
Coingecko: https://www.coingecko.com/en/coins/noderunners

Telegram: @node_runners
Twitter: @Node_Runners

Our DAO has launched on October, so far we had a great organic growth.
You can find our NFT collection on Open Sea.

Contracts are verifiable on Etherscan.
NDR address: 0x739763a258640919981F9bA610AE65492455bE53

Our currently liquidity on Uniswap has over 210k, out of which 57k have been permanently locked.

We would be happy to do a migration to Sushiswap as well.

Next week we are launching our liquidity mining program which will have trading pairs on Sushiswap.

We are happy to pay the application fee.

Thank you for consideration.

We can be reached through
email: info@noderunners. io
telegram: @alpha_noder
twitter: @Node_Runners

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Does that mean we moon?

When is Onsen going live? What are the next steps for token’s applying for the program?

Good Evening !

Looks like we arrived too late and the party is over to submit new tokens.

In the meantime, while we are looking forward to be able to participate in the next round we are looking to contribute to the community and we offer a 3500 SUSHI reward to a developer that can provide us with a contract that would allow participants in our ETH/UOP pool to stake their LP tokens and earn 35’000 SUSHI and 1’500’000 UOP over the course of 3 Months !
We will make our own Sushi Party Boat ( and it fits as we are a project about Music and Community )

Keep up with the good work and please DM me or reply if you can help us make this contract live ASAP!

Good luck to the tokens listed in this round!

Greetings

Daniele

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Any idea of how to make an application on behalf of the team?