I propose we bring back GLTR rewards for the GHST-MATIC pair. We should accomplish this buy transferring 5% of the weight from the GHST-USDC pool to the GHST-MATIC pool. The goal is to increase our total decentralized liquidity and to give our community members more options in liquidity provision. Many within the community have voiced interested in MATIC exposure alongside their GHST investment.
The initial thought was that consolidating rewards under a single pair would get us more liquidity for our GLTR, but I believe this has proven to be wrong. Prior to removing the GLTR rewards, there was ~$500k in the GHST-MATIC pool and ~$5M in the GHST-USDC pool. There is currently only $2.5M in the GHST-USDC pool despite the increase in GLTR rewards. (QuickSwap Info)
Blockchain tokenization exists to incentivize behavior. The previous change appears to have achieved the opposite of its intended effect and should be reversed. Hopefully we can have a similar approach with other economic decisions as we won’t always get everything right the first time.
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Hello, that might be a good idea but we need more math.
Here are some estimations on current and projected APR.
Actually GLTR APR is 6% on GHST USDC pool. So it should get to 4.5% if we remove 5% of GLTR allocation (from actual 20% to 15%).
For GHST / MATIC pool considering 2 different TVL for example
- Actual TVL : 125K$ , should give us around 27% APR
- 250K$ => 13.5%
- 500K => 6.7%
So we would have an high APR for GHST / MATIC at the start, and it should increase the pool TVL quickly.
But I am quite concerned about lowering APR of the USDC / GHST pool. It could cause some users removing funds from the pool.
That’s the main GHST pool and main point of entry in the GHST ecosystem.
Actually TVL is quite low (2.6M$) especially compared to yesterday’s volume (389K$).
I’m not a DEFI / LP expert so i cannot clearly assess risks vs benefits of the move, but I think it need to be taken into account seriously.
FYI :
USDC / GHST pool analytics on Quickswap
MATIC / GHST pool analytics on Sushi
https://app.sushi.com/analytics/pools/0xf69e93771f11aecd8e554aa165c3fe7fd811530c?chainId=137
Pools TVL / APR / APY on verse analytics
https://verse-analytics.xyz/alchemicas
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I tend to agree. Won’t removing incentives from GHST-USDC just make things worse for that pool? And do we have a sense of how many people are swapping from GHST to Matic? I’d assume most swaps go from GHST to stablecoins
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Regarding GHST / WMatic pool, the sushi analytics is broken, it just gives a tx count for last 24 hours (346) and it displays the 100 last tx but 24h volume is at 0. I browsed through it quickly and it’s only small amounts, like 2 to 3 figures. A wild guess would be that the pool volume on a 24h average is around 10K.
Do you have any thoughts on taking weight from the alch/GLTR pools vs the USDC pool? I’m a bit concerned about our liquidity trend, especially with discussion around removing the Curve. Perhaps we are fine with $2.5M and it’s not a big deal?
Alch to Alch is the most common trade, then anything, to matic, as i dont keep it around.
GHST is still a route through sushi… is that the pool we’re firing back up?
Even if you do a usdc trade, ODOS is saying its better to hit matic first
dai gets you absolute chaos, but i do notice one thing… the algo only uses quickswap where it HAS to. everything else seems to be a better option…
