This proposal is expected to appear on Snapshot for voting on 2021-08-15T12:00:00Z. Make sure to stake your vBNT for voting before this date and time to participate in the DAO decision.
Proposal:
To continue Alpha LM rewards for another 12 weeks
Why not?
LM is expensive and we have continued them for Alpha once already.
But why?
Bancor has the deepest liquidity pool for Alpha out of any DEX - keeping this is beneficial for all Bancor Stakers
Alpha Tokenomics (native staking of Alpha) is providing APY to stakers of 7%-12%. Bancor Fees are roughly 3-10%. Bancor, with additional LM rewards + Fee’s provided to stakers provides a much superior APY of over 20%. This means Bancor, with some marketing, can in fact drive more users to stake Alpha on Bancor compared to any other single sided staking in the market.
Alpha Pool on Bancor has generated 585,936.87USD in fees in 128 days to Bancor (broken down in months as / March 116,816.4USD / April 170,484.3USD / May 190,905.8USD / June 49,272.21USD / 58,458.15USD) or 4,577.63USD per day. This is easily one of the top performing pools on Bancor and will continue to be.
I have personally been staking Alpha, along with many other tokens on Bancor and continue to restake BNT consistently. Again, I understand this is quite early but believe keeping Bancor with the deepest liquidity pool for Alpha on any DEX while driving fee revenue to the protocol is key. As an Alpha community member and Bancor fanatic (and hodler), would like to express our sincere gratitude towards the team and community members. Keep up the good work and hope you consider this proposal in due time!
It is still too early for the DAO to consider an extension on the ALPHA pool. I am going to set this vote to be on 8/16 which should still allow for the rewards to continue without interruption if the DAO votes in favor of an extension.
What integrations are possible between Bancor and ALPHA?
Some sort of leveraged yield single sided staking would be my thoughts. I’m not sure if the Bancor team would be willing to take risk or a possibility could be a 100 day lock up (no early withdrawal)
How much on chain trading does ALPHA do?
I would have to double check. Roughly 60-70% from CEX
How much is on Bancor?
The 585,936USD +/- generated in 128 days / 0.2% trading fee would imply a total volume of 292,968,000m USD or 2,288,812m USD average per day.
As time is now coming towards its end, I would like to briefly update the community on a few key metrics:
Since 15/March/2021 - 11/August/2021 data on Bancor from Dune Analytics:
Total Volume: 308,273,592.16USD
Total Fees Earned: 617,782.75USD
This means from the total 150 days since Alpha was whitelisted on Bancor, the ALPHA/BNT pool has generated on average 2,055,157.28USD in volume and 4,118.55USD in fees to Bancor per day!!
I hope all BNT stakers can get behind this proposal and can see the value of this pool.
Alpha on the 18th will start its the countdown for the distribution of its Beta Tokens (Beta Finance) the first project on Alpha Finance Launchpad. That being said, value will soon be realized and trading volumes should increase for Alpha in the following months. This volume can be driven to Bancor because of its deep liquidity pool.
We are currently the deepest source of liquidity for ALPHA on Ethereum proper. The second deepest pool resides on Sushiswap and that’s roughly half our size:
Weekly Fees and Volume for this token since the week of 5/10:
