The Balancer Report
For the week ending January 8th, 2022
Overview
Welcome to 2022, and thank you to everyone who’s been a loyal subscriber over the past year. There’s a lot of interesting things lined up for this year and I’ll be there every week bringing you the latest happenings. Since I took the last two weeks off from writing, we’ll compare TVL to three weeks ago.
Markets haven’t been too kind to kick off ‘22. Balancer mainnet v2 TVL fell to $1.32B from $1.44B three weeks ago while Polygon actually rose to $204M from $189M. Arbitrum was largely unchanged at $77M from $78M.
Daily LP Revenues have ticked up from very low levels in mid December as the market sell off accelerated this week, but they still remain well below the range high of last year. A few days ago, the protocol fee was finally activated on mainnet so now all three networks are collecting the 10% protocol fee. Three weeks ago, we had $14,700 - now fees collected sit at $92,370.
Liquidity Mining
The Aave Boosted pool is up to almost $46M which is cool to see, though aggregators have not plugged in yet so that explains the low volume. There are some minor changes planned by the LM committee for next week, mainly to Arbitrum allocations.
Ecosystem
Gauntlet has updated fees three times since the last report
Jeremy from Balancer Labs was recently on the mimo podcast
Check out this cool 2021 Wrapped video from Balancer Labs marketing
Paraswap follows Aave in adopting 80/20 BPT as part of their safety module.
Balancer Grants monthly report is out
Balancer’s friendly fork on Fantom recorded record volume and fees to start the year. Balancer’s allocation of their token is now worth nearly $5M.
Governance
Baller Zekraken has proposed to increase the flexibility of the LM program
Mog will be hosting a town hall on January 10th at 12pm EST in Balancer discord to discuss her subDAO formation proposal