Overview
Despite a tough week for markets, v2 TVL climbed from $562M last week to $696M, thanks to the introduction of stable pools which accounts for basically the entire increase. On polygon, growth has slowed as TVL rose from $80M last week to just over $100M.
Liquidity Mining
The GNO pool still sitting comfy above 60% APY, otherwise most incentivized pools are around comparable market farm yields. It is notable that two non-incentivized pools are creeping up on the APY leaderboard - both 8 tokens, both high fees (1% or 2%). It will be interesting to see if these can grow organically - still a bit difficult to find as you have to hit “load more” a few times to have them show up on sorting.
There’s still some clear above market yield opportunities on polygon, though the APY’s are down slightly compared to last week. That could be due to a decline in BAL price combined with a slow trickle in of new LP’s taking advantage. Hard to say if it’s because of a reluctance to take on 4-5 token pool exposure or a reluctance to move to polygon. USDC/SNX/GRT/WETH offering 70% rewards APY, USDC/LINK/WETH/BAL/AAVE offering 52% rewards APY are both well above similar yield opportunities. WBTC/USDC/WETH is very close in yield to curve’s tripool though, so LP’s are not sleeping on that one.
To see an overview of next week’s changes, see bakamoto’s spreadsheet.
Ecosystem
Gauntlet pushed another update for some dynamic fee pools
Balancer Ecosystem Fund has given a 2,222 BAL grant to Spectre for sharding NFT’s into ERC20’s on top of Balancer protocol.
Gerg from Balancer Labs has published a very comprehensive community update
Community member Xeonus has created a nifty tool for tracking pool rewards on polygon
I published this guide to creating Balancer v2 pools using Gerg’s balpy package.
Jeremy from Balancer Labs will be speaking at EthCC in Paris
Governance
Fire Eyes DAO has submitted a proposal to onboard them as a strategic partner & active governance participant
Head of the Liquidity Mining Committee Bakamoto has submitted a request for comment about replacing WETH/DAI with WETH/USDC
I submitted a proposal to Aave for migrating their AAVE/WETH pool to Balancer v2