[Closed] Where to Re-Allocate the 5 MTA/95 mUSD EARN Pool Rewards

Summary :

MTA Governors voted to re-allocate the existing 15,000 MTA per week rewards from the 5 MTA/95 mUSD EARN pool to other, existing EARN pools. We are seeking feedback on what options should be considered.

Abstract :

A recent Snapshot poll had MTA Governors voting in favour of re-allocating rewards rather than remove them from emission.

Motivation :

Some EARN pools have more liquidity providers (LPs) participating than others, so there is an opportunity here to balance out the APY of some EARN pools.

Alternatively there are likely LPs who want to see the MTA distributed evenly across existing EARN pools, boosting the APY for all assuming the number of LPs does not increase.

Another alternative is to split the 15K MTA between EARN and STAKE, boosting the APY on liquidity pools and Governance participants each by small amounts.

What say you? This item needs to be put up for a new Snapshot poll on 19 November so the more voices we hear from, ideally coming to some consensus on what options should be put forth, the better.

2 Likes

ETH/MTA Uniswap pool because it is getting quite slim. That’s definitely not good for MTA slippage.

1 Like

I propose to new reward option. :smiley:

  • Uniswap mUSD/ETH pair
    Uniswap has 9x more TVL and 16x more TradingVol than Balancer.
    I think it’s the main battleground of Defi and the best way to promote mAssets.

https://info.uniswap.org/pair/0xfa28af6be3649e90ed76b8269db65b236f716fbe …

  • SAVE
    MTA provide to SAVE users.
    It doesn’t provide utility to the outside world, but it is a shortcut to increase TVL and increase SWAP opportunities.
    If SAVE’s APYs increase sufficiently, they may have a chance to be adopted into Yearn or Harvest’s strategy.

Additions to Stake should also be presented as an option.

3 Likes

propose to new reward option. :smiley:
Uniswap mUSD/ETH pair
Uniswap has 9x more TVL and 16x more TradingVol than Balancer.
I think it’s the main battleground of Defi and the best way to promote mAssets.

I say yes !

For mUSD to be attractive, it must:

  • Generates yield,
  • Be liquid enough so that you can simply hop in and out.

Uniswap being the main DEX, and ETH being included in more than 90% of trades happening in there, we need a more liquid mUSD/ETH pair.

I like the idea of a mUSD pair on Uniswap. @mamedai 's SAVE idea is also good and worth considering.

2 Likes

I don’t think now is the time to propose an entirely new liquidity pool. However, I can justify adding a “allocate to SAVE depositors” as an option to the poll. :+1:

2 Likes

I propose the 15k MTA be equally distributed to current EARN pools.

2 Likes

Can you elaborate on your thoughts on why a new pool is not feasible with this proposal? It seems quite a few are in favor, but curious as to your opinion here :innocent:

The biggest reason is that James S stated in the recent roadmap post that the core team will be making a proposal to restructure the EARN pools and improve MTA’s tokenomics in the near future. Given the amount of time it would take to solicit feedback on what new, incentivized pool these 15K MTA could go towards, time to implement, attract liquidity and all that, where it could be retired shortly thereafter… it would leave a bad taste in the mouth of anyone who decided to jump into it if the pool was taken away just weeks later.

That makes a lot of sense, I didn’t know about the roadmap. I think In this case, I’d side with one of the already proposed suggestions once it comes to a vote!

1 Like

Governors voted to re-allocate the 15K MTA to all other existing EARN pools.

The results have begun being executed as of 23 November 2020.