Update on graphics, though no updates on the emissions weight page.
First is one we’ve seen before using the APR and Liquidity of LPs.
A lot has changed from last week. While HBAR/CLXY and HBAR/JAM are two farms that were way up there, both has fallen down a bit. Now HBAR/SENTX, HBAR/KARATE, HBAR/DAVINCI and HBAR/BSL are sharing the same APR space are HBAR/JAM and HBAR/CLXY.
And for SAUCE/Spaceape, it separated from HBAR/Bull from the previous chart I had.
This next chart is something different. Using Liquidity and emissions weight, this next chart plots those LPs and compares them to what a expected liquidity pool should have given emissions weight.
The thicker line is the expected liquidity to emissions weight line, with thinner lines underneath to help show LPs underperforming and by how much.
As an example, let’s take the 0.30% pools. Based on the data, LP with 0.30% weight of emissions are expected to have about $132K worth of liquidity.
| Liqudity Pool | Liquidity (USD) |
|---|---|
| SAUCE/GRELF | $161,417 |
| HBAR/STEAM | $139,971 |
| EXPECTED | $132,423 |
| HBAR/HSUITE | $128,136 |
| HBAR/DOVU | $127,605 |
| HBAR/LINK[hts] | $125,776 |
| EXPECTED - 50% | $66,211 |
| HBAR/CLXY | $35,215 |
| HBAR/SENTX | $33,815 |
| HBAR/JAM | $28,284 |
So how much does it impact the initial proposal or my initial comment?
The pair of charts gives continued justification on the HBAR/CLXY and HBAR/JAM emissions reduction. A stronger justification for the SAUCE/SpaceApe reduction, while making the case the HBAR/Bull (while initially similar looking to SAUCE/SpaceApe) to be left alone for now.
As for the other farms, of the proposed farms, these are above the weighted-liquidity APR (although it could be argued it’s not that much higher than the Weighted-liquidity APR):
- HBAR/PACK
- HBAR/LCX
The farms proposal that are below the weighted-liquidity APR
- HBAR/HST
- HBAR/HBARX
If others were to grant the HBAR/PACK & HBAR/LCX APRs are significantly high enough to justify a reduction, it would be 0.35% + 0.20% = 0.55% emission weight change. No idea if others would be agree on changing the weights of HBAR/PACK and HBAR/LCX when there’s the LPs at the +30% APR space that hasn’t been touched.
As the proposal is now, I see a large agreement on the first 0.35%, maybe some consensus of the next 0.20% and a struggle to get the next 0.15%.
Again, all of this is still waiting on the docs emissions table to be updated.
Now, there was another idea I had which focuses on the Rewards APR, but that will be another comment as this one is far too long.