The baking rewards from Quipuswap pools are sent over to the contract that currently controls those LPs. If we lock LPs in a farm, the farm’s address gets all the baking rewards. I know it’s possible to give back those rewards like Crunchy currently does, so i’m asking could you also redistribute the rewards back to all the LPs or maybe just give all of them to the XTZ/WRAP LPs to further incentivize that pool.
Thanks for this feedback @plavi989.
The idea is already under consideration and I’ll have an update for you shortly.
Also another option would be that the baking rewards could be used to buy back and burn WRAP. It would be a nice way to counter the sell pressure from the liquidity mining rewards
Hello @plavi989 ,
I am excited to inform you that we will now use baking rewards earned by our WRAP/XTZ farming contract on Quipuswap to buy back $WRAP to burn.
The farming contract earns approx. 90/100 XTZ per cycle (every 3 days), and this will be applied towards $WRAP buyback and burning.
Baking rewards are locked inside Quipuswap pools until we claim them, so the process of claiming baking rewards and using it to buy back and burn $WRAP will be handled manually.
Thanks for the proposal on the utilisation of baking rewards.
You guys are the best! Thank you