At the moment, we have the deepest pool and Uniswap V2 is far behind (2nd highest depth, not much on V3):
We are the largest (16.5M) by ~3x as much as the 2nd biggest (6M) pool on Uniswap V2.
The total fees for this pool and others that have had LM rewards since the week of 6/7 (about 30 days worth):
| symbol | total_fees |
|---|---|
| UNI | $12,799.78 |
| REN | $18,146.65 |
| MKR | $24,157.10 |
| GRT | $26,147.46 |
| YFI | $26,656.51 |
| OCEAN | $29,045.70 |
| ALPHA | $32,508.82 |
| BAT | $42,856.52 |
| AAVE | $47,956.39 |
| ROOK | $58,372.42 |
| wNXM | $60,635.06 |
| SNX | $65,840.81 |
| WOO | $149,225.81 |
| ENJ | $170,779.83 |
| MATIC | $180,324.01 |
puts it in the middle of the pack. Its volume and fees picked up on the week of 5/3 when we enable LM rewards (around 5/6):
I think this pool should be capable of more volume but I think that the current fee .5% is holding us back (we have competitors). A quick test for this, when swapping from BNT to BAT, I am seeing that any amount above 40 BNT ($130) does not go through Bancor. 1inch essentially is using the USDT pool (and others) to swap the BNT and then sending it to some other location:
we don’t come into the picture again until the order is roughly ~75K at 10%:
Without us in the picture, most of this appears to be routed to some PMM (private market makers)
It might be worth considering dropping fees as part of a separate proposal to at least be competitive with Uniswap.