Creation of Terra Poker’s liquidity pools: TPT-LUNA & TPT-xTPT
Terra Poker is the first P2E Texas Hold’em style poker game on the Terra blockchain. With an expected launch date aimed at the end of September 2022, Terra Poker is seeking to develop two LPs onto the Astro Generator, with initial single-asset incentives:
The two pairs are: TPT-LUNA (incentives in TPT) and TPT-xTPT (no incentives)
The TPT is the primary utility token on the Terra Poker platform. LUNA, as the native token on the Terra Blockchain, is by far the most accessible and prolific currency on the chain, and therefore will act as the base denominated currency. Lastly, the xTPT is the primary governance token on the Terra Poker platform and acts similar to the xASTRO pair on Astroport.
The allocated LP incentives on the TPT-LUNA pair will be 15% of the total supply of 1 BLN, with the first year allocation of 6%. The expected first year LP incentives is: 60,000,000 TPT. The TPT-xTPT pool will be an LP with no incentives.
We request that the Astroport community discusses and approves the creation of the TPT-LUNA and TPT-xTPT LPs. We believe that TP will be a great catalyst for ecosystem growth, bridge non-native Terra users to the chain and also increase trade commissions for xASTRO holders.
Further details on the tokenomics of the TPT can be found in the litepaper here.
Thanks for the proposal, @TerraPokerOfficial, and choosing Astroport as your preferred DEX for your TPT-LUNA & TPT-xTPT pools. I fully support your proposal in creating these pools.
Your rake fees are 5% on TPT & 10% on axlUSDC according to your litepaper. I assume that xTPT is an auto-compounded token like xASTRO.
Will you be converting the axlUSDC to TPT using Astroport pools in the backend before paid out back to your xTPT stakers? This could increase the trading volume of the TPT-LUNA pool & eventually creating a deeper liquidity pair due to the higher trading APR.
Definitely on-board with incentivizing TPT / LUNA pool. Love that you’re devoting so many external incentives, and that you have an interesting and useful project.
I’m not sure how alloc points actually work, but I say we take points from the USDC / USDT pool and give them to the TPT pool. Way too many incentives in that stablecoin pool.
Not sure we need to incentivize the TPT / xTPT pool, though. There should be no impermanent loss in that pool to compensate for, so it really shouldn’t need a super high APR (only need to compensate for missed TPT staking rewards, since it’s unstaked). Hopefully trading fees should be enough here.
Anyway, make sure to put up separate votes for each pool (:
I don’t think a vote is needed since LPs can be created permissionlessly.
The Mainnet Contract Addresses include:
So how many alloc points do you want for your TPT-LUNA pool? I would suggest 2% of total alloc points, so 2,050 points. And you should take them from the axlUSDT-axlUSDC pool.
So in the same proposal, you should subtract 2,050 alloc points from the stablecoin pool and add them to your TPT pool.
Also, how much TPT will you be committing to dual incentives? These things are very important for this discussion.
See current distribution of alloc points.
The executable message to register a dual rewards proxy for the TPT-LUNA pair as well as allow TPT incentives for that pair looks as follows:
How in the world do you vote? xAstro and Astro holder but don’t see a vote
Head on over to Astroport