DXdao Introduces Carrot Alpha
A Platform for Community-Driven Programmable Incentives
Introducing Carrot
The next generation of liquidity incentives, and Farming 2.0 is here with Carrot 🥕 by DXdao. Carrot is an easy-to-use platform that allows projects to create community-driven programmable incentives. This launch is the Alpha version of Carrot in order to get it out into the wild, with real collateral, real users, and real carrots.
To start farming Carrots, visit Swapr farms on xDai here.
Liquidity mining took off during the DeFi summer of 2020. Ever since, most projects have been taking a standard approach, which can be categorized as Farming 1.0. This method is commonly used to distribute governance tokens but without necessarily achieving a specific goal — just give out tokens and hope for the best.
Carrot changes that by enabling projects to run smarter and more efficient liquidity mining campaigns from start to finish. Projects can use Carrot to create tokens that reward users based on specific and programmable conditions being met. Carrot tokens can be given out to liquidity providers or awarded to community members who help achieve the stated goal.
DXdao built Carrot with you in mind and designed the product with a familiar UI/UX to make it easy-to-use and straightforward.
How Does Carrot Work?
Projects can permissionlessly create a Carrot KPI token by depositing collateral and setting a specific future condition or goal to pay out the collateral to token holders if the goal is reached. Projects can distribute Carrot KPI tokens to LPs, their community members or core contributors. Users holding Carrot KPI tokens can visit the Carrot platform to redeem the tokens for the underlying collateral that is due when, and if, the conditions assigned by the related project have been met.
DXdao has launched two Carrot campaigns in order to drive adoption of Swapr:
- Will the average price of SWPR from Dec 1st to Dec 31st be above 0.2 USD? — Swapr xDai “xSWPRprice-1221” Carrot tokens will pay out the full collateral if the price is 0.2 USD or higher and no payout when the result is below 0.2 USD. You can find the campaign on Carrot here.
- What will the average TVL for the Swapr xDai DXD-WETH pair be from Dec 1st to Dec 31st? — Swapr xDai “xDXDWETHTVL-1221” Carrot tokens pay out in an increasing linear fashion in the TVL range of 800K USD to 1.5M USD, with no payout below 800K USD. You can find the campaign on Carrot here.
DXdao created 58,000 SWPR price -1221 Carrot tokens with 58,000 SWPR tokens as collateral and 16,800 with Swapr xDai DXDWETH TVL 12–21 Carrot tokens 16,800 SWPR tokens as collateral.
These tokens are being distributed via Swapr’s DIY farming platform, targeting the liquidity providers for the SWPR/XDAI and DXD/WETH pools. LPs of these two pairs will be able to stake their LP tokens and participate in a multi-reward campaign that will run for four weeks and distribute both SWPR tokens and Carrot KPI tokens.
LPs can claim the SWPR tokens and the Carrot KPI tokens immediately, but the Carrot KPI tokens will only payout the underlying SWPR if the conditions are met (SWPR price above 0.2 and xDXD/WETH TVL).
Carrot uses a decentralized oracle in Reality.eth to determine if the Carrot conditions are met leading to payout of the collateral.
Farming 2.0
These campaigns will incentivize users to do more than just farm. They are financially motivated to drive behavior that will lead to the outcome of their Carrot KPI token. What’s more, Swapr’s farming platform provides a distribution channel to give Carrot KPI tokens to a targeted community.
As DeFi and farming evolve, projects are looking for more creative ways to engage and motivate their community. Carrot KPI tokens give projects a set of tools to stimulate community engagement.
Like any Web3 project, early launch partners are crucial to Carrot’s success. With this in mind, DXdao plans to partner with more projects to create community-driven programmable incentives for their communities. Keep an eye out for some tasty Carrots! 🥕
As Carrot’s usage grows, the goal is for Carrot to become an open, permission-less platform that any project can use.
To learn more and join the Carrot Alpha as a launch partner, please reach out to the DXbiz team on DXdao’s Discord or Keybase.
About Carrot: Carrot grants permissionless access to create community-driven programmable incentives, distributing rewards when set criteria are met.
Through the power of KPI tokens, anyone effectively contributing to a goal can receive a reward directly proportional to their impact. Get real value in exchange for real value.
Connect with Carrot: Discord, Twitter
Connect with DXdao: Discord, Twitter, Telegram, Keybase, DAOtalk Forum
