Right now there’s about 300 ETH and 20 TBTC in this Uniswap pool (~2.5M USD of liquidity). Since we are trying to encourage migration to tBTC v2, it seems like a no brainer that we shouldn’t incentivize this pool.
EDIT: Just now remembering we already voted on this:
However, the pool remains on the website (see above). We should change this to an advertisement for the KEEP coverage pools.
I think the KEEP + ETH pool has too many subsidized. I don’t think we should remove all the rewards from the pool, but given that the liquidity is ~USD 14M, I think we could start to reduce the rewards (at least below 100%).
My recommendation is that we:
(1) Reduce the incentives to ~75% APY, and
(2) Reallocate those incentives to the KEEP coverage pools to help direct liquidity towards the pools to help bootstrap them.