Proposal: Should the DAO start incentivising the pBTC liquidity pool on Ellipsis.Finance (Binance Smart Chain) and stop incentivising the pLTC liquidity pool on Uniswap (Ethereum)?

Summary: As the Pancakeswap liquidity mining incentives for pBTC are coming to an end, this proposal is to extend pBTC incentives on the Binance Smart Chain by launching a new liquidity mining programme on Ellipsis Finance.
Simultaneously, this proposal suggests removing incentives on the pLTC/ETH Uniswap liquidity pool as a result of their poor performance.
In summary, the proposed change would redirect the funds currently allocated to incentivising the pLTC/ETH liquidity pool on Uniswap to a new liquidity mining initiative for the pBTCEPS liquidity pool on Ellipsis Finance.

Abstract: Liquidity mining incentives are populating the DeFi ecosystem. pNetwork’s own liquidity mining initiatives are leveraged to increase liquidity on specific LPs for a variety of assets within the pNetwork ecosystem. Currently, liquidity mining programmes are ongoing for pBTC on Ethereum, BSC, Polygon and EOS.
Expanding the pBTC liquidity mining incentives is aimed to increase the amount of BTC moved to BSC and maintain retention of the existing pBTC on BSC - all this while encouraging liquidity to sit within LPs that have strategic value for the success of the pTokens involved.

Motivation: A liquidity mining initiative for pBTC on BSC would encourage Bitcoin holders to join in the DeFi ecosystem, while creating a benefit for the DeFi market expressed in terms of added liquidity locked in it. Its aim is to increase the Total Value Locked within the pNetwork cross-chain system while increasing liquidity for pBTC liquidity pools.
These kinds of rewards serve as an important tool to attract new liquidity and users into the pNetwork system. For this reason, this proposal also suggests removing the poorly performing incentive on the pLTC/ETH liquidity pool on Uniswap.

Specification: The DAO fund is aimed to grow the pNetwork ecosystem. A way to achieve this goal is to boost the adoption of pTokens. This proposal brings forward the option of directing part of these funds towards a liquidity mining initiative on Ellipsis Finance whose goal is to create a benefit for the success of the project by increasing the total value locked of pBTC on BSC.
A similar incentives programme has been rolled out and is currently running in the form of PNT + CRV incentives on the pBTC/sBTC liquidity pool on Curve Finance (Ethereum). This proposal suggests launching a similar programme for the pBTCEPS liquidity pool on Ellipsis Finance (Binance Smart Chain).
If approved, an amount of 15,000 PNT per week will be allocated towards the initiative and distributed as an incentive to liquidity providers contributing to increase the total value locked within pNetwork. If approved, the programme would be implemented for a duration of 2 months.
Simultaneously, this proposal suggests removing incentives on the pLTC/ETH Uniswap liquidity pool as a result of their current poor performance. If approved, the current reward corresponding to an amount of 15,000 PNT per week would be interrupted.
In summary, the proposed change would redirect the funds currently allocated to incentivising the pLTC/ETH liquidity pool on Uniswap to a new liquidity mining initiative for the pBTCEPS liquidity pool on Ellipsis Finance.

Note that, if approved, the proposal would not exclude the possibility of further iterations on the liquidity mining activity for pBTC and would not exclude the possibility of extending the programme to other assets.

Join the discussion for this proposal on the pNetwork community channels.