Proposal: Re-Enable LM Rewards on MKR-BNT (MakerDAO) Pool (conditional upon including Bancor DEX in their buyback mechanism)

This proposal is expected to appear on Snapshot for voting on TBD. Make sure to stake your vBNT for voting before this date and time to participate in the DAO decision.

Vote For :
Re-enable LM rewards for a twelve week duration on the MKR-BNT Pool (Conditional upon including Bancor DEX in their buyback mechanism)

Vote Against :
Do not enable LM rewards for the MKR-BNT Pool

TL DR

  1. The LM Rewards will be re-enabled on the MKR Pool. This is conditional upon including Bancor in their buyback mechanism (work to happen behind the scenes).
  2. The LM rewards duration on the MKR pool can be ended prior to the completion of the extension if the DAO votes to do so.
  3. The LM rewards rate on the MKR pool can be modified prior to the completion of the extension if the DAO votes to do so.

Discussion

Current pool depth is roughly ~$15M:

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We are currently not the deepest source of liquidity for this token in comparison to Uniswap V2, Balancer, and Sushiswap:

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There is also a Uniswap V3 pool with roughly ~$18.11M in liquidity.

Weekly Fees and Volume for this token since the week of 5/17:

Compared to other tokens that have an ongoing or had an LM campaign, the total fees for different time periods:

~90 Days ago (since the week of 5/17):

symbol total_fees
ZCN $13,060.51
NDX $21,900.25
MPH $29,715.22
REN $66,020.99
UNI $71,865.52
OCEAN $87,033.17
GRT $89,589.49
BAT $132,062.42
ROOK $190,810.62
YFI $195,565.20
MKR $196,857.14
AAVE $222,521.77
ALPHA $228,964.17
WOO $269,816.88
SNX $293,324.27
wNXM $303,785.95
ENJ $672,342.71
MATIC $1,064,582.94

~60 Days ago (since the week of 6/14):

symbol total_fees
NDX $8,263.33
ZCN $9,199.62
MPH $15,060.67
UNI $18,798.14
REN $28,181.26
YFI $41,986.28
MKR $43,292.67
GRT $46,888.60
OCEAN $50,982.66
BAT $74,202.60
AAVE $90,374.06
wNXM $109,093.64
ROOK $117,773.10
ALPHA $118,155.76
SNX $158,966.72
WOO $167,946.95
MATIC $227,041.22
ENJ $375,759.61

~30 Days ago (since the week of 7/19):

symbol total_fees
ZCN $4,424.97
NDX $4,610.69
UNI $6,439.08
MPH $10,024.08
REN $11,766.30
YFI $16,659.02
MKR $17,350.26
GRT $18,670.76
BAT $23,436.30
OCEAN $24,292.22
AAVE $29,395.16
ALPHA $44,968.99
WOO $53,346.24
ROOK $56,685.52
wNXM $64,915.34
SNX $66,527.35
MATIC $83,487.10
ENJ $142,832.85

Volume and Fee data since the week of 5/17/21:

symbol time Conversion Fees in USD Volume in USD
MKR 5/17/2021 0:00 $79,419.17 $15,804,415.05
MKR 5/24/2021 0:00 $51,092.87 $10,167,481.94
MKR 5/31/2021 0:00 $14,767.40 $2,938,711.78
MKR 6/7/2021 0:00 $8,285.03 $1,648,721.95
MKR 6/14/2021 0:00 $2,398.03 $477,208.53
MKR 6/21/2021 0:00 $9,002.37 $2,576,398.59
MKR 6/28/2021 0:00 $4,406.50 $4,402,090.65
MKR 7/5/2021 0:00 $6,613.03 $6,606,417.67
MKR 7/12/2021 0:00 $3,522.48 $3,518,961.38
MKR 7/19/2021 0:00 $3,878.50 $3,874,617.71
MKR 7/26/2021 0:00 $5,909.24 $5,903,329.46
MKR 8/2/2021 0:00 $3,707.64 $3,703,933.76
MKR 8/9/2021 0:00 $3,550.09 $3,546,536.72
MKR 8/16/2021 0:00 $304.79 $304,489.77
3 Likes

Iā€™m for it. I think the MKR pool has always been of interest.