Overview
Mainnet v2 TVL is largely unchanged at $1.33B from $1.31B last week. On polygon, the trend lower continues with TVL dropping to $144M from $158M last week. There is a good chance the new LM flexibility on polygon will give the LM committee the tools they need to return polygon TVL to growth so we’ll see how it goes. On the bright side, Arbitrum TVL increased to $76M from $59M so we continue to see positive momentum there.
Mainnet v2 average LP daily revenue slipped a bit this week as markets calmed across the board. Polygon continues to hold in the $20-$30k/day area which is remarkable considering the decline in TVL.
Liquidity Mining
Checking back in on Arbitrum this week we see there hasn’t been much change compared to last week. DHT was 194%, now 181%. NDX was 96%, now 86%. Meanwhile we continue to see extremely low trading volumes. If Arbitrum gains momentum in the future, we are poised to capture a large part of it - for now, there’s not much activity besides afk farming.
Ecosystem
Gauntlet pushes another round of fee updates
Merging NFT’s and DeFi by combining fractional.art and Copper Launch
BAL is now accepted as collateral for MAI by QiDAO
Gerg from Balancer Labs publishes the weekly community update
Element Finance crosses $120M TVL (built on Balancer)
Balancer Labs COO Kristen Stone makes an appearance on the Unblocked podcast
Balancer Grants DAO announces a new grant for KYC real-estate trading
Balancer Grants DAO announces a new grant for a liquidity optimization algorithm.