To echo this, the massive Curve PIL vote block and overall entanglement has likely hindered early growth of BOLD.
- Curve pool: 11.7M TVL, 55% of volume, 5.5%-6% yield, (1% native 1.2% vecrv stuff)
- Ekubo pool: 1M TVL, 45% of volume, 16% yield (5% native) not listed on coingecko🤔
If 20% of Curve's PIL voters (10% of total votes) switched to Ekubo, it would decrease curve's APR by 1% (15% of total APR), while Ekubo’s APR would grow by ~7% (45% of current APR).
Voters make more (via bribes) and LPs make more and better peg stability with lower cost all else equal.
The increase in efficiency frees up a major portion of incentives to drive BOLD growth, perhaps through gamified borrow interest rebates (defi-native negative rates would be a hell of a narrative👀 + 0% interest borrowing is what drove v1 growth)
something to consider if you are incentivizing liquidity or running a points program!!
Ekubo is further strengthening our alignment with Liquity.
After the DAO approved $10,000 in bribes over ten weeks, they have approved an additional $13,000 over thirteen more weeks.
Additionally, the DAO has passed to incentivize the EKUBO/BOLD pair.
Currently, Ekubo receives 14.77% of PIL rewards, second to Curve at 48%.
When comparing the two pools, the VOL/TVL of Ekubo is 1.37 versus .36 from Curve. Second, the volume per $1 in rewards is 1048 for Ekubo versus 515 from Curve.
It is in the interest of $LQTY holders to continue migrating their votes away from Curve to Ekubo.
The future of Ethereum DeFi is the new guard: @EkuboProtocol <> @LiquityProtocol
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