Hello everyone,
Here is our suggested allocations for TDR for GP14. It is mostly focused on USD/ALGO(or LST) pairs, which is one of the largest liquidity structures to have in DeFi. We also wanted to include a set of meme tokens or other projects tokens, to continue the support in the recent uptick of interest in ASAs.
Would love to hear your thoughts,
Have a Merry Christmas & Happy New Year.
Surprised to see incentives for meme coins not include ORA, considering ORA mining increases yields for LSTs (xAlgo, mAlgo, cAlgo, etc.) and also contribute to yields in Pact’s upcoming staking pools.
On behalf of the vote coin community we would like to see the TDR rewards also for our pools.
Vote Coin project increases the TDR rewards for the pact and these rewards are distributed to other coins, which could be considered as not fair distribution.
At the moment the Vote Coin TVL at pact is over $330000.
TDR is a collective tax and a redistribution of wealth. There is no good reason that the chain as a whole should be paying to incentivize liquidity of coins outside of key trading pairs. Stables and key wrapped assets should be the only focus and anything else is a complete waste of resources for the chain as a whole to be financing.
TDR has been and continues to be abused and it should be ended. And I’m very disappointed that we have now regressed from a system of voting on these measures to a system where platforms are once again able to pick and choose allocations without even the legitimacy of a vote.
We are now going on two years of a program that was supposed to be both temporary and limited. Yet, it appears to be neither. We keep shoveling money out the door without any real game plan, reevaluation, or reflection. The continuation of this program, particularly in this fashion has me to the point that I am essentially abandoning hope that discussion in these forums can effect positive change or that rank and file voices really matter all that much.
Hey Ludo,
How are you?
We have largely refrained from Vote Coin largely because I have not been able to really figure out what the product actually does. I’ve looked through Vote Coins website and maybe I am missing something. I also know a portion of the TVL was added from xGovs.
We are trying to consolidate down our rewards structure to key liquid pairs, while some minimal support to long term partners & high volume ASA pairs to help attract new users.
We will be reviewing this list before final submittal.
Hey Ghost,
Long time no see 
To answer your questions from my perspective:
You’re correct that TDR is a dilution to overall holders, however I believe TDR has been a success in the sense it has allowed for base liquidity to form and to help keep DeFi on Algorand in useable environment. While probably not the best way to compare, but if you look at things like governance, AF expenditures, or other dilutive actions, I think TDR has a compelling ROI for the chain comparatively. Now that being said, you could make the case all of this dilution is bad and just cause one is not as bad, doesn’t suffice. With the program set to sunset (from what I understand) after Q1, I think it will be more apparent the effects TDR has had. In hindsight, straight liquidity deployments would have been better/more sticky, but that ship has now sailed.
As with the best interest of our users & overall community, we try to do right by our allocations and take into account key pairs (ALGO/USDC style, or LST/USD, and wrapped + RWAs) with a small portion going to some ASAs that we think have strong communities or good products. The ASA portion sits at 105K $ALGO which is about 9.1% of total allocation, where as the rest I would recon are key liquidity pairs have supporting the former basket.
Noted! I think we will be removing Dugly - but we will be reviewing this all before final submittal.
I am fine, thx. Just returned from the trip from Slovakia where i met my family.
Vote Coin is the utility token for the Vote Coin DAO. The vote coin project standardize the protocol how to cast onchain questions, how to vote, how to vote in encrypted manner, how to delegate voting power, how to manage trusted list of accounts, and how to calculate the vote results. People can create onchain communities with the vote coin open source tools. More can be found in the video for example here: https://www.youtube.com/watch?v=qxy_03LkeMo
Vote Coin is one of the oldest project in the algo ecosystem (it is not related to the choice coin fail). It has growing TVL and its primarly for the incentivization schemes we have in place where anybody who has LP in the Vote/USDC or Vote/Algo or Vote/GoBTC at the pact at the 0,02% lp fee gets the 50% APY returns from the $vote part paid directly to his account each hour. It is little more advanced and less risky (does not include smart contract risk) farming thing like you have but with stable APY and not limited to time, which bring little more price stability in place.
I would say it has much more utility then Meep, Dugly, Monko, Pepe, Cosg, Akta, Asastat, or Finite, but its on every person choice what he does with his money, but i would say because some people may not understand the $vote utility it should not be banned from having the TDR incentivization mainly because the pact TDR is calculated from the TVL of the $vote pools.
Yes, we requested the direct liquidity to the Vote Coin project after the previous management of the pact denied to give the TDR rewards to the vote coin token holders and yet they received higher distribution of algo (in that time approx 50k) they distributed the tokens primarly to meld related tokens. The vote DAO received the grant 32k algos after around 1000 accounts voted for it in the xgov, which is sitting in this account: VOTE…3JFI and this liquidity still helps the algorand defi ecosystem allowing better swap quotes. However this is small portion of the $vote liquidity and it should not be considered that we received year ago some algos and we should not receive any TDR rewards.
Also this account serves the insight how the index portfolio created just from the token works.
You might consider also our other project - the asa.gold.
The project aims to bring more transparency into gold tokenization, where number of issued gold token can be lower then gold in the reserves. The gold reserves consists from the gold coins where for each gold coin the RWA ARC3 NFT is issued and is clearly stated how much gold it contains. The owner of the NFT has right to request the parcel delivery or he can resell it in our onchain eshop. We call this publicly auditable gold reserves.
GoldDAO token is DAO token for the gold project.
This project is the first project to issue the MiCA compatible white papers on Algorand. Also the price of the tokens is guaranteed… the asa.gold token price is global gold price ±10% and the GoldDAO token moves at the price range 0.9 - 1.0 USD… In compliance with regulation please read the white papers before doing any investments.
Appreciate the response Andrew. I am sure you know, it’s nothing personal. It is just a continuation of my long running crusade against TDR and the lack of focus/oversight/reevaluation by the Foundation.
So long as one platform is free to incentivize LP for certain classes of assets, others must follow suit. And, it opens the door to subjective picking of winners and losers. For example, it’s strange to see COSG on the list. They had $140 in daily trading volume (for reference, Yieldly had over twice that). It hardly seems like a token that needs extra liquidity because of intolerable slippage.
There are numerous coins with more volume (some near and dear to my heart). But where are they? I ask that not because I want my favored coin included, but because it highlights the subjectivity and unfairness in all of this, and why the setup is fundamentally broken.
Yet, this is the game that’s forced upon us, where we run around playing whack-a-mole because AF won’t act.
I’ll jsut say it’s great to see someone allocating big chink towards USDC pair - it’s really the only use of TDRs i can truthfully get behind 
Also i think it’s great COSG gets allocation (obviously i’m biased), because let’s face it some of the OGs need a bit of a push to compete with LSTs and other LPs that are gatting free algos.
Volume is a relative thing - quarter is 3 months long. In 3 months 99% of the current memes will be gone so will their volume, in 3 months LSTs will probably need re-evaluation when TDR boost is gone, we’ll remain - gaming tokens are yet to see their bull and when it does, cosg is the only token on algo that fits the bill…
yieldly has 180$ LP on pact, cosg has 60k. Monko for an example has 600$ LP on pact…
It also matters where volume happens - but i agree with your observation. Additional thing to consider we always match or exceed the TDR allocation with cosg, whereas memes or some other proejcts won’t do that - so any Algo spent on cosg is enriched.
for an example - most rug ninja memes are launched with burned LP, so few people additionally providing LP for them will be the only beneficiaries of the full TDR allocated to these tokens - how does that sound? Whereas cosg has one of the best distribution of LP providers in top 100 addresses - meaning its actual algofam. And yes we have better wallet LP providers distribution than coop and akita the two established memes - objectively.
Good points re Yieldly. But, it all kind of speaks to the larger problem of everything being subjective. Is it trade volume? Is it TVL? Is it both? Are there actual metrics, or are we just eyeballing it? Because I can find some coins that based on TVL/Volume metrics that should probably be included but aren’t.
We are on same page here - Once TDRs stop, this issue goes away.
but untill then i’ll be advocating for better cosg than omegabearmoonrocket with 2 LP holders
I would love to see the COSG, ASAGold, GoldDAO and VoteCoin tokens to receive the TDR
