Do they account for all of it? or just some of it?
ETH dropped by almost exactly half…
From the outside it looks as though people just split their ETH to goETH/wETH to farm ‘risk free’ pairs?
I think the strategy of high incentives for goETH/wETH and goBTC/wBTC needs to be looked at.
They are right near the highest allocations from Pact and have a tiny trading returns for LP providers without rewards - 0.10%, they aren’t being traded in volume… because they’re basically the SAME asset. It’s a glorified deposit APR.
Would that allocation not be better going towards goETH/USDC and goBTC/USDC, and wBTC/USDC and wETH/USDC pairs which aren’t incentivised at all?
Or bolstering the Algo pairs on all those assets?