AIP 70: Rewards distribution on BSC Pools

[agriimony]

Summary

• AirSwap fees are currently split on BSC between V2 ($45K) and V3 ($35K) Pools
• This AIP proposes that BSC fees be released in two waves on implementation of BSC claims
• Initial claims will be opened first on V3 with fees on V2 sent later
• Fees on V2 will be rebalanced equally among the top 5 tokens before sending to V3
• 1 token will be randomly sent each day over 5 days

Specification

V3 Claims (0x4A2C0926f21723C56f6899dedbBb3DAE83A4C5dF)

• AirSwap currently holds ~$35K on V3 Pool
  • 47.62 WBNB - $13,585
  • 9,979 BUSD - $9,979
  • 7,118 USDT - $7,118
  • 3,146 USDC - $3,146
  • 0.8539 ETH - $1,430
• These will be made available when Activate implements claiming on BSC

V2 Claims (0xF636776aCfca2132E019E714a1fC881124B3bAfC)

• Another $45K is held on V2 Pool (https://dune.com/queries/934000)
  • 21,136 USDT - $21,136
  • 11,463 BUSD - $11,463
  • 8,713 USDC - $8,713
  • 1.7702 ETH - $3,013
  • 3.195 WBNB - $919
• These funds will first be moved to the ops wallet for rebalancing
• The rebalanced amounts will be sent to V3 (or latest) for claiming.
• 1 token will be selected at random and transferred each day over 5 days
  • 31.4 WBNB
  • 9000 BUSD
  • 9000 USDT
  • 9000 USDC
  • 5.29 ETH *final amounts may vary depending on price movements

This specification also requires Activate to first implement claims on BSC.

Rationale

$120M of volume has been transacted through AirSwap on BSC to date. AirSwap fees are currently split among two contracts ($35K on V3 and $45K on V2). Note: The AirSwap BSC V2 Pool currently also holds Metamask fees.

To smooth out rewards distributions on BSC, we propose to move the fees in two waves on opening of the claim on Activate. $35K will be initially released on BSC from the V3 Pool, followed by $45K from the V2 Pool which will be dripped over a 5 day period.

Copyright

Copyright and related rights waived via CC0.