Proposal to remove incentives for TBTC / ETH pool

When adjusting the liquidity rewards in preparation for the launch of v2, the liquidity incentives for the TBTC / ETH pool where left

However Coinbase has announced that they are going to list TBTC

We want this listing successful, however there is limited supply at the moment due to the ETH constraint until v2 launches.

As the TBTC uniswap pool only has 17 TBTC in it currently there isn’t a great deal of depth.

Currently there is not much supply, the top holder is the curve metapool, due to the TBTC premium (was 4% now 1.5%) in the pool.

So I suggest that we remove the incentives on the TBTC / ETH pool on uniswap to help free up liquidity to the Coinbase listing.

4 Likes

I agree we want the Coinbase listing to be successful. My only question is whether we should revisit the overall percentages and determine whether it’s better to shift from TBTC/ETH on Uniswap to Coinbase or perhaps leave that and reduce one of the others.

I believe this is the current state of weekly rewards?

  • 25k KEEP liquidity provider incentive for tBTC/ETH pool in Uniswap (3.9%)
  • 170k KEEP liquidity provider incentive to the KEEP/ETH pool in Uniswap (26%)
  • 250K KEEP in v2 TBTC stableswap pool on Saddle (39%)
  • 200K in KEEP-only pool rewards to our Coverage Pool (31%)

It looks like the Coinbase integration was done for TBTC v1 instead of TBTC v2

Matt let Coinbase know hence the pause. I still think removing the liquidity incentives was a good thing to incentivise LPs to use the vending machine contract to wrap to v2

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