I propose the addition of a new liquidity pool for agEUR and USDT on Wombat. This pool would allow users to provide liquidity for these two assets and earn WOM rewards. Additionally, if the community agrees, we could consider adding other tokens to this pool, such as USDC and potentially HAY.
The addition of an agEUR-USDT liquidity pool could offer several benefits. Firstly, it could increase liquidity for agEUR, thus facilitating exchanges between this asset and USDT. Moreover, the exchange volume between the euro and the dollar is one of the highest in the world, with an average daily volume of $2,200 billion. By allowing these exchanges on Wombat, we could potentially attract a portion of this volume, which would increase the overall volume of Wombat and could lead to an increase in protocol fees. Furthermore, the addition of this pool could attract new users to Wombat, especially those who already hold agEUR and are looking for yield opportunities. The addition of extra tokens like USDC and HAY could also attract a broader community and further increase liquidity.
The proposal involves the addition of a new liquidity pool for agEUR and USDT on Wombat, with the possibility of adding other tokens like USDC and HAY if the community agrees. Liquidity providers for this pool would be eligible to earn WOM rewards.
If this temperature check is successful, Wombat will initiate a snapshot voting process for the community to participate in. If this is successful, I will initiate the process of adding the agEUR-USDT liquidity pool on Wombat. Moreover, with the agreement of the community, I plan to contact the agEUR team to discuss a potential partnership that could benefit all parties involved.
- Market cap on 14/07/2023: $30,370,874
- 24H Volume: $3,971,279
- Total Supply: 27,055,701
- 24h volume on Uniswap v3 on ETH: $1,762,741
- Contract on the BSC: 0x12f31B73D812C6Bb0d735a218c086d44D5fe5f89
- 7D VOLUME on Pancakeswap: $3.70M