DPI (Data to the 4th September)
TLDR
We have loads of DPI liquidity in multiple pools.
In August the v2 liquidity mining stopped and we started a short campaign on v3.
I see no need for further incentives on DPI liquidity.
As expected we saw liquidity migrate from v2 to v3 with growth in the sushiswap pool as well.
AUM for different ETH:DPI pools
AUM in %
Daily trade is very variable, but we have seen more moving to v3 (taken as a rough indicator of where the bets depth is).
THis is best seen as a % of each days volume:
If we calculate LP income (using spot prices for INDEX and SUSHI) we see that incomes have dropped for all, but v3 generates the highest total reward (on average before Divergence Loss which is likely to be higher on v3)
Note, the Balancer pool collects BAL rewards, but includes exposure to wBTC as a 3rd token.
Current Liquidity
| 08sep21 | Uni v2 | Uni v3 | Sushi | Balancer | Sushi Polygon | FEI ETH |
|---|---|---|---|---|---|---|
| AUM ($M) | $17.70 | $18.40 | $10.50 | $8.70 | $0.46 | $9.30 |
| Volume ($M) | $0.98 | $6.10 | $0.42 | $0.17 | $0.01 | $0.00 |
| % fee | 0.30% | 0.30% | 0.25% | 0.50% | 0.25% | 0.25% |
| Trade income | 6.1% | 36.3% | 3.7% | 3.6% | 1.4% | 0.0% |
| LM | 0 | 0 | 4.8% | 8.1% | 0 | 96.2% |
| Total | 6.1% | 36.3% | 8.5% | 11.7% | 1.4% | 96.2% |
Note the FEI:DPI pool has a larger risk of Divergence loss.
The v3 liquidity is currently heavily off centre (DPI recently dropped vs ETH)
Even so, it would take 110 ETH trade to move the price by 1%.
Polygon
IIP-62 proposed 1,000 INDEX be used for liquidity mining the sushiswap pool on polygon.
This has been approved by INDEX holders and is awaiting a farming contract to be deployed by the Sushiswap team.