# Proposal: Extension of Liquidity Mining Rewards on the USDC pool ahead of Bancor 3

**URL:** <https://gov.bancor.network/t/proposal-extension-of-liquidity-mining-rewards-on-the-usdc-pool-ahead-of-bancor-3/3509>\
**Category:** DAO Archive (SUBMITTED)\
**Created:** [March 30, 2022, 3:08pm UTC](https://gov.bancor.network/t/proposal-extension-of-liquidity-mining-rewards-on-the-usdc-pool-ahead-of-bancor-3/3509 "2022-03-30T15:08:56Z")\
**Posts on this page:** 1\
**Page:** 1

<div class="post-metadata">

**Author:** ![tfns](https://dub1.discourse-cdn.com/flex013/user_avatar/gov.bancor.network/tfns/32/465_2.png) [@tfns](https://gov.bancor.network/u/tfns)\
**Post date:** [March 30, 2022, 3:08pm UTC](https://gov.bancor.network/t/proposal-extension-of-liquidity-mining-rewards-on-the-usdc-pool-ahead-of-bancor-3/3509/1 "2022-03-30T15:08:57Z")

</div>

# Proposal: Extension of Liquidity Mining Rewards on the USDC pool ahead of Bancor 3

### This proposal is expected to appear on Snapshot for voting on 2022-04-02T23:00:00Z. Make sure to stake your vBNT for voting before this date and time to participate in the DAO decision.

# TL;DR

- This proposal is part of a series of proposals to extend LM in the wBTC, LINK, ETH, USDC, USDT and DAI pools.
- The LM rewards schedule for USDC is due to end in less than 3 weeks.
- To maintain USDC liquidity until the launch of Bancor 3, this proposal seeks to extend the LM rewards program on the USDC pool for a further 8 weeks or until Bancor 3 is released.
- USDC would continue to receive emissions of 25-50k BNT per week, for an additional 8 weeks or until Bancor 3 is launched.

# Discussion

1. USDC is the 4th deepest pool on Bancor, representing roughly 2.4% of Bancor v2.1’s TVL.
2. Sustaining liquidity in the USDC pool is essential to maintain the position of the Bancor protocol on the market.
3. The USDC pool brings a significant share of the volume of the ecosystem.
4. USDC pool’s weekly volume and fees are shown below in Figures 1 and 2.

 ![](https://europe1.discourse-cdn.com/flex013/uploads/bancordao/original/2X/d/d588ef5eafda9f92ddcad3a1c8b1781bbe4f79f6.png)  
Figure 1 - Weekly USDC fees, since the beginning of July.

 ![](https://europe1.discourse-cdn.com/flex013/uploads/bancordao/original/2X/6/6a4174b25876536da1a516b4dfd6761d15e667b5.png)  
Figure 2 - Weekly USDC volume, since the beginning of July.

# Summary

1. At this stage, current protocol growth requires LM to maintain the liquidity on Bancor v2.1 ahead of Bancor 3 launch.
2. After the Bancor 3 release, the LM rewards in the USDC pool will end until the DAO votes on a proposal to activate them again.
3. A large majority of the LM rewards are re-staked to the protocol, increasing the TVL and the space available for TKN deposits with single sided exposure.
4. Extension of LM rewards on USDC for 8 weeks will provide 200,000 - 400,000 BNT as rewards, depending on the multiplier.

FOR

Continue BNT LM rewards on the USDC pool, at 25-50k BNT/week, until the launch of Bancor 3.

AGAINST

Do not extend the BNT rewards in the USDC pool.