crosspost regarding the goBTC-wBTC and goETH-wETH incentives. they dont work and 10% of the rewards are getting used for those farms while they create literally no volume for the DEX
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Taking community feedback into account Pact has adjusted our TDR for Q1 2024. Pactās focus will still remain on Stable Swaps, RWAās and large key assets.
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We have been reading comments and have adjusted our GP10 TDR
Hey Stitch,
We are putting a small community grp together to discuss this, we should have it up soon so hope to see you in there. As you know the ecosystem is pretty much devoid of successful native tokens which really does limit our competitiveness when compared to other chains like Avax (offering 2-300%) & Sol etc. To be competitive we do really nee to have some successful ASAās to leverage so we can be more competitive with cross chain APRās.
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WOW, do I read this correctly that you have removed $vote, one of the most traded tokens on Pact from the rewards list? @Adri what should we do about this? Pact has received more algos because $vote is on the important assets list, and they have taken it all for themselfs.
It is great to give the feedback and get harshed for itā¦ Is this what this is about?
Thanks - with that in mind (competition of 2-300%) does it make even more sense to consolidate rewards to less LPs in general? Thereās 42 LPs which spreads the incentives thinly and (if GP9 is to go by) APR sits around 30-100%ā¦ it all sort of bubbles away in an area that is nice but definitely not making a noise.
Instead we could do something more radical as a strategy that competes with Avax + co short term. With a longer term plan for TDR to support a more diverse group of ASAs over time as the community grows.
We have an urgent need to attract new users. TDR is by far the largest fund to do so that can really capture retail eyes. With the current plan I fear weāre almost ensuring we continue to tread water and are left to market the unmarketable.
On that point do we really need 30% of rewards going to:
goBTC/wBTC
goETH/wETH
xUSD/SILVER
xUSD/GOLD
goUSD/SILVER
goUSD/GOLD
gAlgo/Algo
All encourage āsafeā farming of non-volatile pairsā¦ for what purpose and what end?
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goBTC/wBTC
goETH/wETH
getting 10% makes no sense agree, especially since the basket from algomint exists which lets you āswapā these assets for a fixed fee.
but i wouldnt call USD-METAL pairs stable really. the point about them tho is that the volume is really really low
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Yeah I probably worded that wrongā¦ I think RWA make a lot of sense to be paired with USDā¦ for me its more that weāre supporting two USD LPs for eachā¦ itās again spreading our rewards thinly.
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especially since xUSD can be used to mint goUSD via the basket 
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I think good to support both xUSD and goUSD pair. We want more project into Algorand, but now we are saying no need to support both? I think no need to support USDC or USDT, because they are large enough so they will survive anyways. But we definitely need to support both of those Algorand native projects. It will not spread that liquidity that much. no need to go extremes.
Also think that good to support GOLD$ & SILVER$.
But I think no need to support wETH/goETH and wBTC/goBTC pools, because like Lobo said, you can use basket. smaller wETH/goETH and wBTC/goBTC pools also encourages people to use those baskets more.
Best regards,
ROAM
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Oh donāt get me wrong I want to support projects and for everyone to thrive but for us to get there we desperately need a global TDR strategy that attracts new users to Algorand.
GP9 failed at that and GP10 is more of the same. How to steer that ship to help us attract people to Algorand is the million dollar question.
What we do know is that shuffling rewards around 50 LPs hasnāt worked. Itās great for us here alreadyā¦ who doesnāt like free money? We can plonk our USD in 12 different way getting 40% return. But thereās no easy headline APR to promote. Nothing eye catching to market to an Avax or Sol user. And weāre clearly not using our smarts trying to get 4 different stablecoins with sufficient liquidity depth to work in a tiny ecosystem. I say support USDC + USDT because itās what people use. Use assets people not here already are familiar with.
If you put even half of that reward pile from xUSD and goUSD into wAVAX, wSOL, and wLINK LPs I guarantee that weād have more cross-chain dialogue and onboarding going on than we are about to.
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May I suggest that the rewards which Pact has received from the fact that $vote token is significant algorand token will be distributed to Vote community by Vote Coin DAO?
To boost the DeFi ecosystem we will distribute the tokens on fairly basis: Lets define the distribution amount N, lets calculate how many hours are in this distribution period H, lets calculate the hourly payout P=N/H. Now each hour we will calculate the points for each holder: Amount of AMM tokens held by pools 0,02% pool will be incentivized with 100 points, 0,05% pool with 50 points, 0,3% pool with 10 points and 1% pool with 5 points for each $vote held in the pool. Lets call the accountās point A. The sum of points each calculated each hour S, and account payout will be P*A/S.
We already have in place AMM incentive program where we calculate for each account the $vote tokens he hold and we do $vote airdop each hour
- with LP fee lower than or equal to 0.05% : 50% APY
- with LP fee higher than 0.05% and lower than or equal to 0.50% : 30% APY
- with LP fee higher than 0.50% : 20% APY
More info about our current DeFi incentive program can be found here: Staking program - VoteCoin
This will help the pact.fi as well as the 50% of all fees collected at the 0,02% pools is currently taken by Pact.
No offense but this asa.gold came out of literally nowhere, on the site it says October 2023ā¦no one even knows it exists. I sure didnāt.
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Yes, asa.gold has been launched at Build a Bull hackathon in November. There is progress published at ASA.Gold - Real gold tokenized or ASA - Real gold | Buidls | DoraHacks . Does it mean that the token backed by real gold with better auditing then meld should not be incentivized? I understand that the focus on RWA by meld management at pact means no incentivization to competition tokens.
Be as inclusive as possible.
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This is a cool idea. More rewards for wrapped assets like wAVAX, wSOL and wLINK along with targeted marketing to traders in these respective communities can bring more users into the ecosystem.
But once RWA craze is real we can see lot of interest towards Gold, Silver and other RWA.
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