DXdao and CowDAO team up for COW farming campaign on Swapr
Swapr To Host COW Campaigns and Liquidity Incentives on Gnosis Chain
Cow Protocol, a meta aggregator of DEX liquidity, is launching CowDAO and the COW token — assuming a series of proposals are passed. As part of the launch, DXdao is partnering with CowDAO to launch farming rewards on the COW/WETH pair on Swapr on Gnosis Chain. The DAO2DAO partnership features a four token reward campaign, which includes a Carrot token that only pays out if a milestone is met.
vCOW, a locked token, was airdropped last month to thousands of addresses on Ethereum mainnet and Gnosis Chain. It had governance rights but was not liquid (sound familiar?). On Monday of this week, several proposals were put forth before vCOW voters that would effectively launch the COW token. One proposal allows vCOW token holders to swap their vCOW for COW tokens. The token will then become transferrable and tradable and lead to price discovery. Another proposal to CowDAO would launch a 12 week liquidity mining campaign, one on Ethereum mainnet and another on Gnosis Chain hosted on Swapr. If the CowDAO proposal passes, DXdao will receive COW tokens to distribute via farms on Swapr. Voting by the CowDAO community on the above-mentioned proposals will end on Monday, 28th of March 2022.
In collaboration with the CowDAO community, DXdao is currently also voting on a proposal to incentivize liquidity in the COW/WETH pair in Swapr on Gnosis Chain, with a farm that distributes four reward tokens. The campaign is set to launch as soon as COW token becomes liquid, and will run until the next Swapr farming epoch starts on April 14th. The reward token amounts are:
- 75,000 SWPR
- 15 GNO
- 29,100 COW
- 29,100 COW Carrot — Carrot tokens will be an additional incentive offered by DXdao, and will be awarded if the COW/WETH TVL average ranges from $500k — $3m from March 29, 2022 to April 14, 2022
The Carrot is particularly interesting for a new token like COW because the increase in TVL could come from token flows or price appreciation.
This initial campaign will be followed up with two additional 4 week campaigns (at least). The amounts and Carrot incentives are to be decided later by DXdao and Swapr governance but the current proposal does allocate “350k SWPR & 65 GNO over the 12 week period”, which will be supplemented by 240k COW over 12 weeks from CowDAO.
In the event that the CowDAO votes end supporting the initiatives, DXdao has taken the necessary steps to ensure that Swapr will be ready to receive new COW traders to the incentivized pools, immediately upon such an outcome. The reward tokens for SWPR and GNO will be prepared, while the 240,000 COW tokens will be sent from CowDAO after the CowDAO proposals are executed.
CowDAO and Swapr are working on another exciting collaboration that isn’t quite ready yet, but we’re quite thrilled about it. Soon, COW Protocol will be integrated directly into the Swapr Eco Router, meaning you can trade through Cow Protocol on Swapr.eth! We’re still testing, but we wanted to offer a sneak peek.
About Swapr: Swapr is a multi-chain automated market maker (AMM), deployed on Ethereum mainnet, Gnosis Chain, and Arbitrum One. Swapr is the first AMM to allow for adjustable swap fees through governance, as well as the first DAO deployed DeFi protocol on Ethereum; developed organically within the DXdao community.