The Balancer Report
For the week ending July 3rd, 2021
Overview
With the liquidity mining migration coming to an end this past week, v2 TVL surged from $337M last week to $527M currently. On polygon, we’ve just crossed $30M TVL with over $19M lifetime volume.
Liquidity Mining
On main net the story is the same as last week, with the more recent additions still sporting above market rewards APY’s. Most likely explanation is it takes time for people to browse the site and realize we’ve added new stuff - plus not everyone knows you have to click “Load More” at the bottom once or twice before sorting by APY becomes accurate.
On polygon every pool still offers more than 100% rewards APY (this number reflects BAL+MATIC ,+QI where applicable). The most interesting thing to me is the pools with only eth/blue chip defi exposure still have rewards APY in the 140-160% range, far higher than any comparable yield on main net. For now we can probably chalk this up to lack of awareness - we’ll see what changes next week and perhaps discuss some other factors that might be at play.
For an overview of next week’s changes, see bakamoto’s spreadsheet.
Ecosystem
Balancer’s official polygon launch announcement
0x API now supports Balancer’s liquidity on polygon
OpenDeFi discusses treasury management using Balancer smart pools
Balancer Labs is hiring for a Partnership Lead position
Governance
Stefano Bury from LongHash Ventures proposes the staking of BAL for Economic and Governance Benefits
Baller Bakamoto asks for input on what is Balancer’s current primary objective
Community Volunteer Andrea offers observations on the current state of Balancer