Increase and accelerating adoption of FLOAT

All,

I would like to propose the acceleration of adoption of FLOAT on lending markets - this should be achievable with the newly minted members of the Treasury Diversification partnerships.

From the Dune Analytics dashboard, it is concerning to me to see BANK holders outnumbering FLOAT holders at a ratio of 12:1. Float Protocol’s product is FLOAT and not really BANK - so there should be more incentivization to use FLOAT instead - which will help drive up the price of BANK. Another observation is that with the USDC/FLOAT pool, there is very little volume (88k) compared to liquidity (3.62M).

As such, I would like to request the core dev team to focus on getting more FLOAT liquidity to markets such as:

  • CREAM
  • Aave
  • Compound
  • Rari (I know this is in progress - team please give a ETA on this)

Perhaps even the team can add FLOAT/BANK on places such as Bancor (single sided staking) and Alpha Homora as necessary.

All of these may be considered to have some form of incentive (eg divert rewards away from BANK/ETH) for a short term to bootstrap liquidity.

Thoughts?

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Hey Hey :wave: :slight_smile:

So we have a Proposal ready for Rari Fuse. Plan to put it up during the “working week” hours as traction is often fairly low over the weekends. Regarding all of the other markets mentioned one of the main barriers obtaining a Chainlink Price feed oracle to be listed on those markets. To get one, greater volume is needed. As mentioned by @nps on the discord it is a chicken and an egg problem. The addition of the FLOAT-USDC pool should help naturally increase volume, alongside the addition of Rari Fuse when that is up and running. I’m not adverse to diverting incentives from pools to incentivise trade volume and integrations. Moreover, introducing a bonding mechanism for LPers could be another way to bootstrap liquidity in a fairly efficient manner.

Proposal is up for Rari Fuse here:

https://forums.rari.capital/d/145-whitelist-float-protocol-as-fuse-pool-creators

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Is there any update how to proced now? The discussion in the Rari forum has dryed out.

Should we try to start a vote on Rari?

Vote just started. Snapshot