[AIP-3] Increasing share of emissions going to ALCX holders

travisformayor

Thelionshire

I like it. More value to alcx. Emissions don’t water you down much as long as you either provide liquidity or stake. I may suggest going a bit higher on the alcx - perhaps with a method of unstaking time for stability? Maybe 10% with a 1 or 2 week unstaking period? Then alcx - eth would be 62.5%? That may be too many changes for now. Either way, I like the stable / alcx split but made a slight change so it’s 75% alcx and 25% stables.

ALCX-ETH sushi pool: 65% (could adjust down to 62.5% to allow alcx up to 12.5%)
ALCX-only staking : 10%, could go up to 12.5%, suggest with locked period for unstaking)
3crv-alUSD pool: 22.5%
alUSD-only staking : 2.5%

travisformayor

I also like the idea of tossing a small amount, just a few percent, to people who have open loans. Capture them as shareholders and improve their account balance even more. Taking out loans is useful to Alchemix, we can reward that in shared ownership.

scoopy

travisformayor this would require a lot more work to implement, so let's keep this in mind for the future, but not add it to this proposal

0xdef1

travisformayor Would love to see this as a separate proposal. And agree about keeping the rewards modest. We need to keep unit economics in line, we don't want to pay in equity more than the revenue that those incentives would generate.

RichAndCreamy

Bringing in stables to be closer to market rates is a yes vote from me.

ButlerAndTheThirdStringers

RichAndCreamy I would take it a step further and allocate that 7.5 percent ALCX to the SLP and remove ALCX-only staking entirely.

Creating a liquid SLP with less volatile swings should be the priority and ALCX-only pool doesn’t do much to benefit the protocol. Any ALCX stakers could just move to the SLP pool to counter dilution and we’d be better off. Initial selling to enter the pool would only be temporary and easily countered by the appeal of purchasing ALCX and entering the SLP pool for monster APY

Nyyls

I'm for increasing the ALCX-ETH sushi pool, it's a good pool 🙂

ButlerAndTheThirdStringers

ButlerAndTheThirdStringers meant to reply to the original post of state

fanta

ButlerAndTheThirdStringers Alcx only stakers don't put downward pressure on the price when compounding.

Nyyls

Discord vote is here: https://discord.com/channels/738480789464940634/764832669636100096/819484190314594324

Roytheboy6

YES and YES

Ivfx619

I'm in let's go!

YallaYield

Let's get this deployed asap, stable farmers are having too much fun on the back of holders.
Also, alcx-only staking should get discontinued and allocated to SLP to create maximum value.

Malaka

YallaYield Personally I think that LP is also better, which is why it should have max rewards. But some people are risk adverse and would prefer to farm without risking early volatility in LP poos.

To be clear, I am not one of those people lol. Just thinking about them though, no need to get rid of pool. Hodlers gotta farm too 👨‍🌾

ButlerAndTheThirdStringers

YallaYield Thank you. The ALCX-only pool doesn’t add any value to the protocol. A highly liquid and less volatile ETH market does. The priority should be to Incentivize that by increasing emissions as much as possible.

I don't buy the idea that it hurts holders, since any IL should be easily offset by the high emission rate of the SLP pool.

KGB

This should be put to a snapshot vote immediately.

hjqcan

ALCX-ETH sushi pool: 65%
ALCX-only staking : 12.5%
3crv-alUSD pool: 20%
alUSD-only staking : 2.5%

bambatman

100% agree with the initial proposal, you have my vote!

ButlerAndTheThirdStringers

It’s worth noting that according to the last numbers I saw, the value locked in the SLP pool was _40m compared to _10m in the ALCX-only pool. That shows that 5 percent is already too much. Removing ALCX-only would be a significant add to the SLP pool

saltylemon

ButlerAndTheThirdStringers Pardon me, but how exactly does that "show" that 5% is already too much?

TVL ratio is 4:1, yet the rewards are 9:1.

The argument the money will magically flow into the SLP pool if you close the mono ALCX one is also invalid.

The only thing I'm seeing is that people from the SLP pool are getting greedy and want to use the current situation to syphon as much of the rewards % towards them. The ALCX pool is not the problem. On the contrary - increasing those rewards will further stimulate people to stake and reduce the sell pressure from other pools.

I understand the need to re-adjust the rewards due to the current situation, but I am also afraid that any rush decisions might worsen the situation even more.

CryptoNEET

I agree with the original proposal, all the numbers look decent to me. I think you could maybe not take quite as much from alUSD-only and 3crv-alUSD pools. However, if the numbers stayed as is in the OP, I would vote yes. I favor these much more than the current.