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So I had this idea its not finished and I would like to bring it to a vote at some point for governance in ALGO. This plan involves ETH and i was wondering if any one even entertain the idea of yield farming on ALGO.

This is a revised version of my original idea.

Step one take around 5% the transaction fees (algo fees) and use it to purchase ETH and BTC.

Step two These tokens are wrapped and used as defi rewards for BTC and ETH LP contribution on approved defi platforms.

Why, you may ask, would we do this?

  1. the coins become more energy efficient on the network (go green)

  2. This will incentivize people to bring more ETH and BTC to the network to yield farm.

  3. With enough BTC and ETH liquidity In the system we will be less turbulent on violent swings. Much like how a Stable asset counters the downs and ups in a liquidity pool.

  4. Since it should bring stability and liquidity into the network it would encourage developers from those ecosystems to work on ALGO.

  5. With the new project there will be more transactions to create a self feeding mechanism that can continue to grow and attract more people.

  6. These new developers and yield farmers will need algo for transactions and more importantly ALGO to protect their investment threw governance.

This is a more refined version of my previous plan and i feel it looks good on paper. Constructive criticism is welcome, just don't be a jerk about it.

Just wondering if any one would consider bringing liquidity over if an incentive like this was put on the ALGO block chain. This should help both chains.

submitted by /u/Due-Albatross-2253
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