Ok - so this is a joint technical / knowledge piece, but how about someone creates a fully-fledged “Everything you need to know about farming BAO / PNDA” guide?
This would include - in a super visually appealing form:
- the key requirements to “farm” BAO / PNDA;
- the key fees and penalties that you need to be aware of;
- a process guide showing how to (1) bridge assets (where required), (2) convert them to whatever you wish to farm, (3) pool them, and (4) stake them;
- an explanation of impermanent loss and how it works.
This is all simple stuff, but if it could be set out almost in a “questionnaire” / knowledge tree way, you could have it so that users select the particular assets they’re looking to farm, the particular chain they’re currently on and where they want to farm, and deliver a tailored guide.
I’m not sure how difficult this would be to accomplish, but as part of this, you could draw on their asset choices for farming and automatically give a representation of the likely IL based upon a previous period of time (say - over the last 1 month or so).
For example - say Bobby has 2 ETH on Ethereum, and wants to go into the PNDA / ETH pool on PNDA. He’d answer a few questions and confirm that:
- he wishes to use his ETH to farm;
- he wants to farm in the PNDA / ETH pool.
The guide would then spit out:
- how to move ETH to BSC;
- how to convert half his ETH to PNDA;
- how to pool ETH / PNDA;
- how to stake that LP in the PNDA/ETH pool;
- an idea of the IL on that pool - based on historic values for the relevant assets over the last two months;
- an overview of the fees and penalties that will apply as he pools his tokens, and when he unstakes etc; and
- perhaps some “Next Steps” points around their options regarding their rewards: for example, noting that 95% are locked and 5% are immediately available upon claim, and that 5% can be compounded, or held in their wallet, or converted, or (in future) Robo can be used to automatically compound etc etc etc.
So what’s the benefit of all of this?
whilst we can’t give financial advice, people are equipped with the knowledge to get involved in BAO / PNDA and are given a useful overview of the whole process;
this in turn reduces the amount of questions on the Discord, and gives community members some breathing room to deal with more difficult questions; and
the tool will make the process for farming assets SUPER EASY to understand - this will be useful for anyone who wants to farm their crypto and in turn, will draw attention from people who might otherwise seek to use another farming protocol (across all chains); and
all of this draws attention to BAO, PNDA and whatever chain we move to next, which acts as a great marketing initiative, whilst increasing engagement with BAO and ultimately allowing the team to collect as much data as is possible to inform the creation of synths going forward.
It’d be a lot of work to set up initially, I imagine (and I don’t have the dev knowledge to do it!), but once set up, it’d just need to be updated periodically with any new information.
Edit: It’s probably also worth noting that much of the base information that would be included in the system has already been written in the FAQs etc. It’d just be a case of designing a suitably clear questionnaire system that captures all of this in the right place.
Some bits of learning / knowledge might be integrated into the questionnaire itself, rather than the answers. For example, when asking the user what chain they wish to farm on, you might provide a drop-down / pull-out information box which goes into the potential pros / cons of the relevant chain and / or the fees and penalties associated with it.