#2 LeoDex Feature - Volume Airdrop
Goal of the Airdrop
To get people familiar with LeoDex both on the Maya Protocol side and on the Hive/LEO side. We want more users of LeoDex on a regular basis. The Airdrop is like a "opening day sale" at a retail store that is meant to encourage people to look around the aisles and see what we have to offer the world.
Hopefully, they find that we've built an amazing product and decide to use it both for the airdrop and into the future. Learning about the LEO token economy and the flywheel effects of growing LeoDex's Trading Volume
Details of Airdrop
From a functionality standpoint/overview:
Example:
So for example, in the address I'm logged in with - I may have traded $12,600 on LeoDex.
So my number would be $12,600 on the UI display.
You can add 10 tiers. To reach the next tier, you have to swap above a certain amount of $$
Tiers:
We can have 10 tiers. To reach the next tier, you have to swap above a certain amount of $$.
and so on ... up to 10
The higher your tier, the bigger your airdrop. This encourages users to swap more and more to reach the next tier and gamifies the process by displaying their tiers on the frontend in real-time.
Eligibility
Since the goal of this Volume Drop is to spur activity and awareness around LeoDex and the LEO Token Economy, we should also include an element of "LP Requirements" in order to be eligible for this Volume Drop. The target audience is primarily people who have not yet interacted with the LEO Token Economy or her ecosystem of products.
We will likely introduce an LP Requirement to the tiers. I imagine this could be done in either of two ways:
note: we will have some stipulation that the LP must be symmetric LEO:CACAO OR be asym on the CACAO side).
Other Eligibility Requirements:
TBD (optional) bonus for creating an account on INLEO - this may require some additional verification, which adds another layer of complexity but would create a lot of value for the overall LEO Ecosystem
Amount of the Airdrop
Since the amount of LEO for the airdrop will come from the ecosystem, I believe a LEO POWER stakeholder vote should take place. It should be adequately emphasized that the potential value capture of a successful LeoDex product will be incredibly high for the LEO Token Economy.
I also believe the LEO Team could match the airdrop amount by purchasing LEO off the open market. So if the ending airdrop amount determined by a stake-weighted community vote is 100k LEO, then perhaps the LEO team should also buy 100k LEO off the open market and donate it to the Volume-based airdrop to make the total 200k and also negate any negative sentiment around the potential downside of unlocking 100k LEO from the ecosystem and airdropping it to new users of LeoDex.
Frontend
The frontend for the volume airdrop will show on the Dynamic Island module. It will be a tier based airdrop and show your real-time tiers as you progress through the airdrop.
Example:
Data Backend
To make the Volume Airdrop display module, we need a backend to keep track of who's swapping and how much they are swapping (based on their Arbitrum / Maya Protocol wallet address).
This backend will go live at the same time as the Volume Airdrop display on the LeoDex.io interface.
In the process of building this backend, I realized that there are many other use cases available for it. In the future, we'll be able to expand more layers on top of this backend and it will allow for more features that are data-centric.
The 1st example of such a feature in my mind is trade history - if you are familiar with using popular CEXes (i.e. Binance), then you'll know that they have a Trade History tab. On this tab, you can see all your trades that you've ever made with that account. You can also export that history as a CSV file.
This is incredibly useful for analysis and many other reasons. Users often want to download their data and be able to use it.
Other potential features are a dashboard where users can see global trading metrics on LeoDex/Maya Protocol as well as deep analysis on their own account (wallet) that they are signed in with.
For example, seeing the total $ value of all the trades they've ever made... what assets they trade the most... what assets are traded on LeoDex most frequently...
We also could have features that show real-time swaps happening. I imagine this like a Shopify store - have you ever been to a digital storefront where they have those little message pop-ups in the bottom right? For example "sally bought 1x pair of Nike shorts for $39"... imagine that but for swaps. As other users swap / pool liquidity, you could see global messages.
The goal of this would be to encourage more activity in general. More activity on LeoDex = more Affiliate Revenue = more $LEO getting bought and deployed as permanent liquidity.
Comment on This Proposal
You can comment on this issue directly on the INLEO Platform.