LP Army Bounties

General
21

I love this idea and think it’ll be great and heaps of fun. But also share the same concerns as @szujason

22

Some great feedback here:

  • Balancing Due Diligence and bringing more rewards to the LP Army → i will take care of this
  • At least locking up the bounty reward before hand → Will be done, I also think it should all be denominated in $MET, so they have to buy $MET heh.

Maybe in the future we have to get them to stake $MET to access this service.

1 Like
23

I believe Szujason is quite right about being necessary that bounties get looked at so that we don’t get rugged more easily trying to get those bounties. Other than that, it’s a great idea to bootstrap more liquidity to Meteora tokens.

24

Okay, replying with a summary of all my thoughts.

Key Feedback:

  • How to make sure projects dont rug-pull, make sure tokens dont rug, etc
  • How do we make sure meteora team doesnt offer the wrong tokens

I largely think that seems to be the main concerns, here’s what ill do:

We’ll kick off the bounty with only established tokens from defi teams (HUMA, FLUID, zBTC, JUP, etc). These are teams with strong backing from VCs, and are relatively safer than any other coins, albiet they do less volume.

We’ll open it up to be permissionless, before we start doing more memecoins/risky tokens. When its permissionless, we will also make them lock up the bounty beforehand before they can run the program.

I’m also thinking that they should lock up 200%, 100% for the reward and 100% for a deposit to make sure the token doesn’t rug, and they can only claw it back afterwards.

3 Likes
25

Who chooses the coin pair to bounty on? Can this process be voted on?

26

We are still in the early stages, so the Bounty is for only teams that want to do it.

Early stage → curated, filtered teams (fairly permissioned)
Long run → permissionless, but with built-in safety checks

1 Like
27

Thank you for replying

1 Like
28

What if the bounties are for the stocks like tesla, mstr it could help promote tvl and trades on those assets. way less risky and there no stain on the Met team if it trades down.