As an Alpha community member and user of Bancor’s Pools (not only Alpha/BNT, but many others as well), I would like to submit the follow in advance as there are 32 days left of LM rewards on Alpha
TL;DR
Extend previously approved LM rewards on the Alpha pool for a further 12 weeks.
Alpha has attracted a liquidity pool of over $24m at the time of writing, with increasing demand and growth for single sided staking with protection since the inception
There are 32 days left of LM rewards and, I, as I am sure along with other Alpha holders, appreciate and would like to continue staking on Bancor’s platform.
Discussion
Alpha is continuing to be a rising star, even in the face of some adversities, and recently has announced the relaunch of their successful Homora V2 with a new concept of collateral credit and borrowing credit to maximize capital efficiency and security. It will continue to be an asset for BNT + Alpha stakers.
Alpha is soon to launch AlphaX within the coming weeks - the decentralized, non-orderbook perpetual swap trading market
Alpha pool has seen the intrinsic value of Bancor’s unique single sided staking with protection and have attracted over 7 different transactions with over 1m USD at Time of Stake (and still today given Alpha’s price)
Alpha Txs have generated total revenue and earnings on Bancor of 277,909.89USD from 15/3/2021 - 30/4/2021 (116,816.39USD in March and 161,093.50USD in April thus far) demonstrating the needs for liquidity on Bancor
Therefore, I, along with the Alpha community propose to continue the current LM rewards after expiration for another 12 weeks. Again, I am an a current Alpha staker and restaker of BNT rewards. This is a win-win.
Understood and thank you! Just wanted to show the appreciation from Alpha community for what Bancor has to offer and also make the transition as smooth as possible. Keep up the great work!
Just appending here to give some data to the community. The BNT-ALPHA pool has roughly ~$36M in liquidity and we are by far the largest as compared to other DEXes (top two pools are on Sushiswap):
The ALPHA liquidity in this pool has been roughly the same since the week of 3/15:
which means that the pool size in terms of ALPHA tokens hasn’t changed much. The fees collected by this pool have been roughly between 27K-69K per week:
With that said, here is the total fees collected since the week of 3/15 (this pool most likely didn’t exist prior to this week since there was no volume/fees prior to this time) for the different tokens that have come up for renewal since then:
symbol
sum
REN
$130,717.14
GRT
$149,607.41
AAVE
$228,324.25
SNX
$229,742.96
YFI
$290,049.08
ALPHA
$394,698.20
wNXM
$697,106.48
MATIC
$898,380.09
ENJ
$1,215,660.20
Note that these results are subject to change since the week of 5/10 hasn’t concluded yet. The full data is below:
symbol
time
Conversion Fees in USD
Volume in USD
ALPHA
3/15/2021 0:00
$34,120.47
$17,026,116.64
ALPHA
3/22/2021 0:00
$69,776.45
$34,818,450.66
ALPHA
3/29/2021 0:00
$27,768.94
$13,856,702.60
ALPHA
4/5/2021 0:00
$33,397.34
$16,665,271.63
ALPHA
4/12/2021 0:00
$47,248.84
$23,577,173.02
ALPHA
4/19/2021 0:00
$43,815.72
$21,864,046.33
ALPHA
4/26/2021 0:00
$44,733.60
$22,322,067.36
ALPHA
5/3/2021 0:00
$33,760.70
$16,846,590.92
ALPHA
5/10/2021 0:00
$60,076.12
$29,977,984.19
Note that the week of 5/10 hasn’t completed yet and hence the total fees might still increment in the next few days.
There are a few projects/communities that compliment Bancor well. For example, some of the lending/borrowing platforms (if they onboard BNT/vBNT), yield farming platforms (if they build strategies on top of Bancor), insurance platforms, etc…I think Alpha has a unique value proposition in that it could potentially provide leverage yield farming for Bancor. Has this been brought up by Alpha token holders?
