Overview
It was all fun and games until Black Wednesday. TVL took a decent hit back to $2.70B, though LP’s did collect $3.23M in fees on $1.31B of swap volume, both new records for v1. The big winners on the LP side were those in crpyto/stablecoin pools. Per the analytics here, which calculates TVL differently than the site above for v1, Balancer v2 is showing a TVL of $8.6M. We’ll check in next week on the growth of v2 after the liquidity mining program begins on the 24th.
Incentivized BAL Liquidity Mining
Yields fell around 3% amidst the broader crypto chaos this week. More notable is a large drop in the number of LP’s from 687 a week ago to 638 now. As Balancer v2 liquidity mining ramps up, more and more LP’s should migrate to v2 so perhaps some are beginning that process early.
Ecosystem
v2 launch partner PowerPool shares more about what they’ll be doing on v2
Ocean Protocol partners with Token Engineering Academy
Balancer Ecosystem Fund gives a grant of 392 BAL to rotkiapp
V2 Liquidity Mining Begins May 24th
It all came together rather quickly over the last few days. Balancer Labs is still working on the v2 staking contracts to allow for dual rewards (BAL + project token) so in the interim we are moving forward with the old system of off-chain script + claiming. Both v1 and v2 rewards will be claimable at the current claim portal.
Rewards APY for v2 will be displayed on the main UI once the rewards go live. I will update pools.vision to reflect the new v1 APY’s each week as more BAL is allocated to v2. To find more information on what pools will get BAL rewards on v2, you can check the Balancer discord or review the Week 1 proposal on the Baller snapshot.
Evolving the v2 LM program will be a radically open process and there isn’t much of a roadmap for the Ballers to follow. Ramping up each of the starting pools to Tier 1 will likely be a point of focus in the next couple of weeks, but what else? Do we want some 8 token index pools? 80/20 pools? 50/50’s like sushiswap? Any community input on this topic would be appreciated (#governance in discord).