Proposal: Extend LM Rewards for ROOK

DAO Archive (SUBMITTED)
1

Proposal to Extend LM Rewards for ROOK

This proposal is expected to appear on Snapshot for voting on Monday 24th May 2021 at 12:00 pm UTC.

TL;DR

  • The liquidity mining (LM) rewards program started on the 28th of February 2021.
  • First 12 weeks of LM rewards for the ROOKBNT pool will be over on the 23rd of May 2021.
  • On the 5th of March (earliest data on Dune Analytics), the pool liquidity was ~33,829.16 ROOK (~$14,209,662.46), and has since grown to ~37,520.82 ROOK (~$12,876,755.27), captured on the 19th of May [1].
  • In the past month, the pool has attracted an average of $3,392.95 in daily fees and an average daily volume of $1,693,083.5 [2].
  • The ROOKBNT pool is the deepest ROOK DEX&CEX pool, with roughly triple the liquidity of Uniswap ($4,095,993) [3].

Justification

KeeperDAO has had a good synergy with Bancor. An example of such is the integration of their gasless limit order functionality in the Bancor swap widget.

Here is a comparison of the fees obtained in the past 60 days from the pools with currently active LM rewards:
image

Please share your opinions/thoughts on the extension.

[1] Pool liquidity obtained from Dune Analytics
[2] Pool fees and volume obtained from Dune Analytics
[3] KeeperDAO markets checked on KeeperDAO price, ROOK chart, market cap, and info | CoinGecko

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  • The ROOKBNT pool is the deepest ROOK DEX&CEX pool, with roughly triple the liquidity of Uniswap ($4,095,993) [3].

well, this part got my vote.

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Good pool for growth with mev narrative bound to kick off. Will vote for

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I think this pool needs more time. Has great potential. Will be a YES vote for me.

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Will be voting yes here.

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As it currently stands, the BNT-ROOK pool has drawn ~16M in liquidity and we have succeeded in becoming the deepest pool compared to uniswap and sushiswap:

image

The liquidity on the ROOK side of the pool roughly filled up completely on the week of 3/1:

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and hasn’t changed much since then. The weekly fees for this pool have been in the range of ~$6K-~$46K and the peak was on the week of 4/12:

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which correspond to the following volume:

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Here are the total fees that have been collected since the week of 3/1 for the ROOK pool and others that have come up for renewal recently:

symbol total_fees
REN $181,495.58
GRT $197,466.12
OCEAN $236,547.89
ROOK $266,082.36
UNI $280,063.22
AAVE $343,870.52
SNX $346,296.01
YFI $415,657.39
ALPHA $437,180.36
wNXM $826,941.80
MATIC $1,405,142.49
ENJ $1,524,639.54

Full data is below:

symbol time Conversion Fees in USD Volume in USD
ROOK 3/1/2021 0:00 $6,043.14 $3,015,525.52
ROOK 3/8/2021 0:00 $17,605.41 $8,785,101.87
ROOK 3/15/2021 0:00 $16,937.05 $8,451,587.45
ROOK 3/22/2021 0:00 $24,035.62 $11,993,774.11
ROOK 3/29/2021 0:00 $16,838.76 $8,402,542.81
ROOK 4/5/2021 0:00 $20,290.99 $10,125,205.43
ROOK 4/12/2021 0:00 $46,036.74 $22,972,331.10
ROOK 4/19/2021 0:00 $28,579.55 $14,261,196.47
ROOK 4/26/2021 0:00 $16,726.63 $8,346,588.40
ROOK 5/3/2021 0:00 $27,711.81 $13,828,191.81
ROOK 5/10/2021 0:00 $25,574.88 $12,761,863.90
ROOK 5/17/2021 0:00 $19,701.96 $9,831,278.68
2 Likes