APGP 9 : Deploy a CurveV2 factory pool for APW/ETH and bribe on votium

Summary
I propose to deploy and incentive a CurveV2 factory pool for APW/ETH pair.
This would allow to create a gauge in curve and have rewards in CRV and CVX.

Rationale
The APW budget for the sushi APW/ETH pool should be removed and used for bribing the curve gauge vote on votium instead. This would be a much more efficient use of the APW budget for liquidity incentive as 1$ used for bribe is equals to ~4$ in rewards (CRV and CVX).

Proposal
There are several options for a change in the APW incentive budget :

  • Do nothing (do not reduce sushi incentives)
  • Cut APW sushi incentive by 25% and allocate it to CurveV2 Votium bribe
  • Cut APW sushi incentive by 50% and allocate it to CurveV2 Votium bribe
  • Cut APW sushi incentive by 100% and allocate it to CurveV2 Votium bribe
6 Likes

My take on this proposal is that it makes sens, but we already bribed and have several millions of $TOKE :radioactive: to direct liquidity to chosen DEX
You can already vote on our pool and on an exchange on @TokenReactor
If you have some counter-arguments, I’d be happy to hear them😁

3 Likes

I understand Tokemak liquidity direction product should be live soon. However I don’t think it include CurveV2 in its 1rst iteration.
I think it could be interested to experiment with CurveV2 now and check when tokemak is live wether it is more / less efficient / or complementary in terms of volume, liquidity, and incentive budget.

Also it would not hurt to deploy the curveV2 factory pool and add the gauge so it would be ready for when tokemak add curveV2. What are your thoughts?

3 Likes

Hey @remilm thanks for this proposal !

I agree about the fact that we should create Curve V2 pool, and a gauge, but i disagree about removing 100% of the incentives. We can consider about reducing the budget, but it can be useful to know how much APW, and an estimation of the LPs rewards after this reduction.

I’d say this proposal is missing several important informations:

  • Rationale: Should we bribe votium only or bribe.crv.finance too ?
  • Means: Amount of APW used to bribe each week
  • Technical implementations: Ressources needed to create the Curve V2 pool

Also according to Llama Airforce, the current reward for bribes is 1.94$/1$ spent, but with market crashing it make sense.

Finally, I think it would be good for the DAO to accumulate CVX, i’m currently working on a budget proposition for the Apwine treasury, that would include CVX buy & lock, but we can still consider bribes before reaching enough CVX on the treasury.

2 Likes

thanks for the awesome information.

APGP 9 (v2) : Deploy a Curve V2 factory pool for APW/ETH and stop the Sushi LM program

Summary:
Stop the Sushi rewards and redeploy part or all of it on a new Curve V2 pool.

Context:
A few weeks ago, @remilm started a dicussion on creating a factory pool and redirecting the sushi rewards on votium bribes.
Considering that Tokemak owns 95% of the Sushi liquidity, this pool doesn’t need incentives anymore. The goal of this proposal would be to use part or all the Sushi LM budget to bootstrap the liquidity on a new Curve v2 LP APW/ETH.

Once there’s enough liquidity the goal will be to add a gauge to the controller to earn CRV.

Some community members also mentioned to use part of the sushi rewards for a new LM program on another chain.

Rationale:
This proposal aims to deploy a factory pool APW/ETH on Curve V2 and use the Sushi rewards to bootstrap the pool. Even if tokemak isn’t supporting Curve v2 LPs at the moment, they might in the future.

The current Sushi rewards represent 250K APW/year, which could be partially or totally redirected to the Curve LP.

In this proposal I suggest to vote about stopping the Sushi LM and Deploying the factory pool, then create another proposal to discuss new LM programs

Technical implementation:
Deploy the Curve factory pool
Stop sending the rewards to the Sushi contract

Means:
No extra expenses

Voting options:
Yes, Stop sushi LM & Deploy a curve v2 factory pool
Only Stop the sushi LM
Only Deploy a Curve v2 factory pool
No, Don’t stop the LM or deploy a factory pool
Abstain

Should we stop the Sushi LM and deploy a curve v2 factory pool ?
  • Yes, Stop sushi LM & Deploy a curve v2 factory pool
  • Only Stop the sushi LM
  • Only Deploy a Curve v2 factory pool
  • No, Don’t stop the LM or deploy a factory pool
  • Abstain

0 voters

2 Likes