TLDR: a proposal for incentivising liquidity across the NDX <> ETH pair by setting up a new liquidity mining pool for Uni-V2 NDX ETH tokens.
The NDX token is currently available to buy on Uniswap, however, there is a low level of liquidity in the NDX <> ETH pair, this means:
The price of NDX is very volatile with a $2,500 buy or sell moving the market by 10%+
There is a lack of NDX available to buy for any community members who may want to take part in governance
Incentivise liquidity across the NDX <> ETH pair by rewarding a number of NDX tokens to users that stake their Uni-V2 tokens.
As far as we can tell no new tokens are able to be minted before 22nd Jan 2020. However, we would ask the team if they can use some of the current 500,000 tokens reserved for Keepers for this initiative as the contracts are not ready yet. These NDX can then be refunded when they are unlocked on the 22nd Jan 2020 and the Keeper contracts are ready to be deployed.
To ensure that the NDX <> ETH pool is incentivised we suggest a daily NDX amount of two times the which is being rewarded for stakers and LPs on Index tokens.
The current reward for LP pools is 9,374 NDX per day for each pool.
For the NDX <> ETH LP pool we suggest 18,748 NDX per day for an initial period of 2 weeks.
We are keen to hear your thoughts and hope that as a community we can support this proposal to improve liquidity and distribution of NDX.