Reply to Grants Counil
I’m unable to estimate the potential value or user-base of such a unique dApp.
kHOLE would create a profitable arbitrage opportunity for LST holders looking to maximize their staking yields. If ERC-20 token suppliers can meet the demand, then a powerful flywheel effect may be achieved.
If ERC-20 depositors cannot meet demand, then perhaps the DAO or Councils could deposit BSN or WETH to get things started.
The Bribe marketplace contracts and a frontend UI were completed for 3m BSN. The Liquidity Council has already deployed a 5m BSN bribe to reward validators who join the BLOCK network.
If the BLOCK network brings in 5 validators with the bribe, then the Councils will have paid 8m BSN to attract 160 ETH.
Since the kHOLE contracts and frontend UI will be more complicated and take more time, I am asking for 5m BSN to complete this project.
I am open to counter-offers.
Adding BSN utility in kHOLE
We can implement BSN utility in kHOLE to add more value to this project.
Here are some initial proposals:
- staking a certain amount of BSN is required to use kHOLE discounted swaps
- staking BSN in kHOLE entitles the LST swapper to a larger discount on ERC-20 swaps (up to 100k BSN staked gives 10% larger discount for example)
- each discounted swap requires burning an amount of BSN (either proportional to the trade amount or a flat fee)
- staking BSN in kHOLE entitles the ERC-20 supplier to a larger share of fee emissions and minted kETH
- each claim of fee emissions or kETH requires burning an amount of BSN from claimants wallet