Hi everyone, I’m Bakamoto, and head up Balancer’s Liquidity Mining Committee. Just wanted to chime in here to say that Balancer is happy to match the proposed BANK rewards here for the duration of the program in BAL.
Assuming you run the 500,000 BANK over 8 weeks, that’s ~$5,600/week as of this post, approximately 200 BAL / week. So the pool would be incentivised with 200 BAL / week and 62,500 BANK per week.
Our liquidity mining weeks run from Monday 00:00 UTC to the following Monday 00:00 UTC, and LM Committee decisions need to be decided ~mid week to start the following week. We’re currently doing something similar with LIDO on the wsteth pool, which would serve as a sensible distribution mechanism in advance of our staking contracts being ready (expected later in Fall).
Couple questions from us:
- The current pool has a 2% fee, which isn’t competitive with the SUSHI pool, is this intentional for some reason? While you might not want to go so low as 0.3%, it currently seems high and would make it hard to achieve your target of $10k at 2% slippage. Not sure who controls the pool fee, but should be relatively easy to update?
- Do you guys have a timeline on when you’ll be ready to vote on this and start liquidity mining from?
Any questions for us?