Trading Incentives - Cashbacks , Gas Fee & Slippage Subsidies
To add a trading incentive mechanism to our own AMM dex. Users can earn tokens by trading on 1inch . But different from traditional trading mining, the rewards on 1inch for trading can be different tokens. Other projects can provide their own tokens as rewards for specified trading pairs.
Along with Best Aggregated price they can get some Lucrative Rewards for using the 1inch exchange protocol itself can be proposed
E.g. Like if a user transact on 1inch & for a swap he pays around , lets say , 10$ as a gas fee , Now 1inch can provide a cashback of like even 5 - 2$ [ Can be Randomized or Better rewards for those addresses that uses 1inch exchange more often ] on it in form of 1inch tokens. [ Rewards Can be Wrapped into another token as a Receipt , like we have st1inch ,which can be unlocked for 1inch tokens OR these tokens can be released gradually with time ]
- Now this Reward user got in the form of 1inch tokens as a cashback can’t be sold right away but can be used as a discount for his next swap [ Forget Dumping ] . They’re more like frozen tokens that can be unlocked after you complete certain tasks .
- This Cashback thing can be Randomized for each swaps user do on 1inch .
- To Redeem the 1inch Tokens , which you got as a reward/cashback , you need to complete certain tasks . Like Retweeting or Tagging Your friend , Simply Say , sharing the 1inch Platform on social media etc. All for Promotion . Here we converting a simple user as a 1inch Marketer : )
Question is how you will get this money for cashbacks & all ?
- Well , Just like we pay Referral rewards from Governance & Adjust the ratio b/w Governance & Ref Rewards by voting . We can add the same for Cashbacks similar to those & let the Voting Power decide & set the Portion for Cashback rewards out of GOVERNANCE Rewards.
Infact , I don’t think Governance Staking will reduce by this function instead it will incentivize the traders & Provide LP with better earnings which will ultimately benefit stakers with better APY too .
- The Thing is that when People hear just the Word " CASHBACK" Trust me , They Go crazy for it . Even for a Smallest Cashback they can leave other DEX . I mean all Retail companies do devise this strategy to bring more traffic & as a lucrative reward to keep 'em engaged . Even those who didn’t used your DEX in past at all will also gonna come & use it to Taste it .
Those who are staking the 1inch tokens shall be provided with a choice of either they want more 1inch or wanna get rewarded in other tokens ?
Like on BSC chain Providing a new kind of reflect reward that seeks to reward holders in BNB coins etc. against the platform tokens.
What better way to earn Binance Coin (BNB) without doing anything extra other than holding 1INCH tokens in your wallet.
Holders do not have to stake the coin or do anything extra other than hold and claim their BNB weekly or depending on their cycle.
A Similar Approach is used by an another project MoonRat & Solarfare
Showing How to -
- Deal With Whales
- Collecting TAX
- Deal With Pumps & Dumps Exits
- Zero Balance Punishments