MVI
MVI is currently enjoying liquidity mining with 3,286 INDEX over 30 days as per IIP-62.
Due to delays in getting the staking contract topped up, there was about a week with no rewards on the contract. During this period, a number of LP’s moved to the Uniswap v3 pool and captured higher LP fees. Some of this returned when LM resumed.
Number of MVI:EHT Uniswap v2 LP tokens since launch
In addition, Sushiswap has started Onsen Rewards for MVI:ETH on polygon with SUSHI and MATRIC rewards.
MVI Liquidity AUM since 01 August:
MVI liquidity as a % of total
In terms of volume, most has stayed in the v2 pool:
Overall the v3 liquidity looks like this, which I think looks pretty good for a small pool with some LP’s being focused, and some being wider / very wide.
Since the v2 contract was refilled, the average income for LP’s has been:
Current Liquidity rewards
| 09Sep21 | Uni v2 | Uni v3 | Sushi Polygon |
|---|---|---|---|
| AUM | $7.20 | $0.14 | $0.48 |
| Volume | $0.97 | $0.13 | $0.04 |
| % fee | 0.25% | 0.30% | 0.25% |
| Trade income | 12.3% | 101.7% | 7.6% |
| LM | 29.5% | 0 | 32.3% |
| Total | 41.8% | 101.7% | 39.9% |
In terms of current market depth, Uni v2 is giving the most depth, but the v3 is obviously much more capital efficient (28% of the volume, using 2% of the capital.
| 09Sep21 | Uni v2 | Uni v3 | Sushi Polygon |
|---|---|---|---|
| 1% Price impact | $36,000 | $10,000 | $2,500 |
Other considerations
- With ~$20 M total AUM, we currently have ~20% of the circulating MVI in the liquidity pool.
- At 3,268 INDEx and $50 we are paying $5,000 per day on a product that generates $520 income.
- The recent v3 staking contract for DPI:ETH has been successfully deployed