ENJ - Thoughts on token and potential LM rewards

Curious as to the communites thoughts on ENJ. Already whitelisted and TVL of approx $4.5m. What caught my attention is the swap volume today of nearly 50% of TVL generating substantial fees.

Is this a one off or is the pool generally high swap fee generating? If the latter, would this be a contender for LM rewards? With GRT and Uni you see the extra volume that LM brings.

I don’t know much about ENJ at all, so perhaps there are reasons to exclude from LM?

Welcome any comments…

After 100 days staking I have 3,5% profit. Most time APY = 3-5%, last time ENJ announced larger news, and in this days APY was 80-180 %.

hello, just my 2 cents here.
I was looking through ENJ and saw that actually it’s one of the best performing pairs in terms of liquidity to volume ratios on almost all dexs. Despite this our liquidity does seem to already beat out uniswap by a big margin so i don’t see a need for LM rewards, especially since the APR seems to be quite high just from trading fees. as of writing this the APR is 90% for the pair without any rewards.

Thanks for comments.

With knowing nothing about the project and volumes that are stored elsewhere was unsure if we could take a chunk of that pie and tempt with a small cap LM inventive.

Seems however that we may have decent slice already and yesterday’s trading volume is way more than BAU.

Happy to close off as unneeded.

The ENJ is a quality project that has proved itself over the time.

The APR is really high past days, the only bottle neck to the growth of the pool is there is zero incentive to stake BNT in this pool due to the ongoing liquidity mining that provides relatively stable high yield.

LM might not be justified for this pool, however I’d propose increasing the co-investment to 1M as it would deepen the pool and increase BNT burned. I don’t think that ENJ represents a long-term risk for Bancor in terms of rug pulls. (I’m biased I’ve 10K idle ENJ in my wallet).

Please see my proposal here: LM rewards for Enjin Coin and increase co-investment of 2M BNT - #6 by DarkKnight

The ENJ side of the pool is full, and has been for a long time. If we want larger swaps to happen through our pool, we need to grow our liquidity by a lot. Beating Uni isn’t really enough if they have a miniscule pool with little to no activity. The APR we are seeing now is mostly coming from arbs as ENJ has been mooning hard these past days, usually the APR is way lower.