The Balancer Report

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The Balancer Report
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The Balancer Report

For the week ending July 31st, 2021

Solarcurve
Jul 31, 2021
1
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The Balancer Report
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Overview

https://duneanalytics.com/balancerlabs/balancer-pools

V2 main net TVL surged to a new high of $906M from $763M last week. Polygon TVL also increased significantly to $173M from $122M last week. A bullish market combined with LP’s continuing to trickle in are the primary drivers I think.

https://duneanalytics.com/balancerlabs/Balancer-V2-LP-Revenues

Lifetime swap fees crossed $2.5M this week on main net, with polygon lifetime swap fees sitting at $600k. LP’s are earning around $50k/day in swap fees on average which has been the case since the liquidity mining migration from v1 completed.

Liquidity Mining

https://app.balancer.fi/#/

USDC/GRT still sitting comfy at 120% rewards APR, but down significantly from last week’s 240%. Otherwise everything looks in-line with comparable opportunities elsewhere. No changes are planned to main net liquidity mining for next week.

https://polygon.balancer.fi/#/

WMATIC/MTA/WETH and USDC/SNX/GRT/WETH saw some new money enter this week which reduced their rewards APR’s a bit, but they remain well above market. Otherwise everything remains largely in line with last week. The big jump in TVL here can be partially attributed to $11M entering the stable pool and someone depositing $23M BAL/WETH liquidity (not shown above as it doesn’t get rewards on polygon).

There is one small change to liquidity mining on polygon for next week - see bakamoto’s spreadsheet for the info.

Ecosystem

  • mStable announces their incentivized WMATIC/MTA/ETH Balancer pool on polygon

  • APY Vision now supports Balancer v2 on main net and polygon

  • Gauntlet pushes another round of dynamic fee updates

  • Balancer CEO Fernando Martinelli is featured in this Crowdfund Insider article

  • Balancer Labs tweets these highlights for July

Governance

  • Baller Bakamoto kicks off a discussion about treasury diversification

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