Create new yETH Vault to farm Swerve. That’s it. That’s the post.
bumping this cuz it needs bumping.
https://twitter.com/FinanceSwerve/status/1302002731125821441?s=20
Swerve doesn’t use Y, so liquidity it mines over reduces yearn AUM.
Mining Swerve helps mitigate this issue.
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It might sound cool but there is a problem with this strategy – Swerve distributes 9,000,000 $SWRV within first 2 weeks, after than farming speed drops drastically.
With current development pace (build + review the contracts) we will lose ~7 days of farming while using strategy for another week doesn’t look viable. Thoughts?
Ref:
Token Distribution [awarded entirely to LPs]:
9,000,000 $SWRV [2 weeks]
9,000,000 $SWRV [year 1]
3,000,000 $SWRV [year 2]
3,000,000 $SWRV [year 3]
3,000,000 $SWRV [year 4]
3,000,000 $SWRV [year 5]
3,000,000 $SWRV [year 6]
Total: 33,000,000 $SWRV
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Maybe 1 week of high mining rate is better than nothing?
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There is not enough liquidity to make this happen imo.
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As @milkyklim has highlighted, it’s 9mil swerve for 2 weeks, then 9mill for the next year. X26 less rewards after the 2 weeks is up
Not worth the man power and risk for such a small window. Better to concentrate on improving yETH vault
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I agree with general sentiment: it does not seem worth the effort for just another week of meaningful incentives. Especially when taking into account all Vaults so far have had a 0.5% withdrawal fee.
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Perhap BZRX Mining is more interesting as it goes for another 2 1/2 months.
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I am against it. For some reason, it does not sound long term viable to me. You’re chasing a new startup here… A vault should be a “trusted store of value to park your coins in” and not some “chase the fab of the day”.
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Hey, thanks guys. That’s what I was wondering if it was worth the effort.
I appreciate your time and efforts looking into it.
1 Like