Let’s start with rationale:
The current rewards are on the 5mta:95mUSD pool are incentivizing conversion to mUSD from MTA (If I have 100 mta I have to sell to get the 5:95 ratio… Buying into a pool with a single asset still causes the sell of 95%mta). To say the least the current setup only helps those who want to hold mUSD and use EARN for extra APY.
However, 15k/wk MTA @ $1.00 each in a $4,000,000 pool doesnt really help those people too much either.
(I am using italics and bold for emphasis, my tone is )
I want to keep 2.5k MTA/Wk on the 5:95 for these reasons:
- By removing 83% of rewards from this pool into the othe two pools that bring price stability benefits the people who are in the 5:95 by increasing the value of the rewards (MTA price) and also lowering liquidity from the pool (as people move to other rewarded pools with logical use cases)
- People paid gas to enter the pool and stake the BPT… Let’s not burn them by acting like we dont care about the fact that they paid fees to join in. They deserve rewards too
- 5:95 is the lowest risk, gets lowest reward
now to the 4x25 (MTA:mUSD:BAL:wETH) rationale
- It creates 5 new trading pairs on balancer that do not exist at all otherwise.
- The 0.09% fee will make this the most active pool for fees on several of the pairs
- 5k/wk rewards + the natural 40% totalAPY can give mStable a rewarded pool with a consistent 50%+ APY. [[This really is the LP pool that matters most of the set in terms of value to the ecosystem (imo)]]
now rationale for 95:5
- There is only one reason that MATTERS for 7.5k/wk on this right now: since the 95%mta:5%mUSD pool [with] 7.5kMTA/wk… mtaAPY is LEAST affected by the current MTA price fail this pool will have intentionally unsustainable APY until it gets diluted.
The only way to dilute (aside from already having MTA) is to “buy in” (versus “sell in” on the current setup.).
LP yield farmers wont ignore a 600% apy… They will pay gas and buy in.
the buying in raises mta price and APY on all pools ya gotta do this… But do it for 3 months until it stabilizes.
THE DIVERSITY in pool ratios will fix the underlying math forumlas that are also pulling us down to a nickel.
As for the “overwhelming majority” voting for this setup… Vomit. (Oops). The majority of voters didnt do their math homework and screwed the #1 active LP source for MTA up so bad that MTA may be the first crypto to crater 99% and then skyrocket 20,000% if they do this right.
I am asking for a little over 10% of the 120k mta weekly to be reallocated within its current protocol. Hardly a major decision to make when the price is plummeting.
If there had been an emergency vote like I originally asked for, we would be above $2 instead of testing $0.80 soon.
The ratios in the 3 pools i propose all serve a specific and exact purpose, designed to be most effective to fix and reverse the damage done by the overwhelming majority