Proposal to launch FARM/USD Market

Proposals
1

Hello Perp familia, I’d like to propose the addition of $iFarm to Perpetual Protocol.

Background

Harvest Finance is an automatic yield farming protocol that helps traders take advantage of the latest DeFi platforms with the highest yield.

iFARM is the interest-bearing version of Harvest’s FARM rewards token; similar to xSUSHI or bBADGER, it is a receipt for depositing FARM into the Harvest Profitsharing pool, where it receives a steady flow of the protocol’s farming profits and it is redeemable for the underlying FARM at an increasing rate.

Harvest Finance was also one of the early investors on Perpetual Protocol.

Other Metrics

We would love to be part of the growth of the project :tractor:

Edit 1: from Nick

After chatting with the Harvest team they are going to update the proposal to run a prize draw for all participants who trade on FARM/USD.

Campaign

  • Over a 2 week period, we would calculate the total amount traded for each wallet address
  • We then divide this amount by 5000 to get the number of tickets each person can receive. This number is rounded down (i.e. 5.89 = 5 tickets)
  • To keep it fair for humble farmers we add in a cap where each wallet can have a maximum of 20 tickets

Participants simply only need to stake these tickets on xDai to be eligible to win the prize

Prize pool:

  • 20,000 USD in FARM
  • 20,000 USD in PERP
  • 20 winners (so 2000 USD per winner)
2

Hello! Red here from Harvest Finance :slight_smile:

Here to support this listing proposal and any questions you all might have!

2 Likes
3

Thanks for the proposal. I think it would make more sense as we discussed to change this to FARM instead of iFARM as it’s a derivative.

2 Likes
4

After chatting with the Harvest team they are going to update the proposal to run a prize draw for all participants who trade on FARM/USD.

Campaign

  • Over a 2 week period, we would calculate the total amount traded for each wallet address
  • We then divide this amount by 5000 to get the number of tickets each person can receive. This number is rounded down (i.e. 5.89 = 5 tickets)
  • To keep it fair for humble farmers we add in a cap where each wallet can have a maximum of 20 tickets

Participants simply only need to stake these tickets on xDai to be eligible to win the prize

Prize pool:

  • 20,000 USD in FARM
  • 20,000 USD in PERP
  • 20 winners (so 2000 USD per winner)
1 Like
5

I’m not sure that I understand: are we talking about Farm Profit share pool or an LP ?