Overview
V2 TVL is at $243.6 million, which is just a few million shy off of a double from last week’s v2 TVL of $123 million.
Liquidity Mining
Comparable v1 yields are lower versus v2 across the board so it seems LP’s aren’t migrating as aggressively as they were in previous weeks. The Ballers have voted to give BAL/WETH another 5k BAL and move USDC/WETH, LINK/WETH, SNX/WETH, COMP/WETH, and REN/WETH to Tier 3 starting Monday.
As you’ll see below there is a governance proposal to add a Tier 4 at 1k BAL/wk and it was suggested to move GTC/WETH into that tier since the APY remains high. This pair has been a success story in my opinion, being third in terms of average fees earned per day after WETH/DAI and WBTC/WETH. It could be argued cutting the APY in half wouldn’t change much but I also think it makes sense to pour gasoline on our most successful pools. As far as what to expect next week, bumping MKR/WETH to Tier 2 and adding more v1 pools seem most likely.
Ecosystem
AlchemistCoin unveils Copper, a platform for Fair Launch Auctions powered by Balancer LBP’s.
Timur from Balancer Labs drops a thread with some v2 stats
Governance
A proposal to authorize Gnosis Protocol v2 contracts as a vault relayer on Balancer v2
Bakamoto from the Ballers has proposed adding a new Tier 4 to the liquidity mining program and voting is live right now