And @coopahtroopa @jiecut
The $15 M target means that if we keep the current $45 M, then the INDEX rewards will be closer to 10%. And it looks like the trading fees have dropped over the last week (from ~9% pa to ~4% - that could be thanksgiving, or the bear market)
Personally, I think the DPI:ETH is a good pair (Correlated so less divergence loss and fees) and we will likely keep a decent amount in the pool without INDEX rewards.
We don’t want a mass redemption of DPI on the 7th, and while there is a Cream vault, I think most DPI holders would prefer to use AAVE or Maker (proposals already made). So, INDEX rewards on the DPI:ETH pair keeps AUM up while.
A large uniswap pool makes liquidations of vaults easier, so DPI becomes better collateral for AAVE and Maker. So acting to keep a large pool make the coop look like responsible custodians (and so more likely for DPI to get integrated). Once we get more integrations, there will be more AUM, we get more volume on the market so the uniswap pool grows to capture the fees.
In some ways we are spending INDEX to buy us some time while we build and integrate more.