Angle Protocol Bi-Weekly Update (Nov. 17, 2023)

Recap of the Previous Two Weeks

ARB Received Last Disbursement: 100,000 ARB

ARB Utilized as Incentives in the Last Two Weeks:

The distribution started on November 7, 2023 and as of today 72,630 ARB have been distributed as follows:

  • stEUR-wstETH Camelot v3 pool: 12,020 ARB
  • stEUR-USDC Camelot v3 pool: ≈ 30,060 ARB
  • stEUR-ARB Camelot v3 pool: ≈ 30,530 ARB

The remaining ARB of the 1st disbursement will continue to be distributed according to the plan.

Contracts incentivized over the last 2 weeks:

  • stEUR-wstETH: 0x6C41A770583Fc7141FBeA9ac741f9015A4De6FDa
  • stEUR-USDC: 0xcc4e4c18bad7e1cc63bb98915eeb3f412939955e
  • stEUR-ARB: 0xcae4a98685fd488e8d2fc3780baabc7d472f9d01

Contract address label Form completed for all addresses: Yes

ARB left over: 600,000 ARB

Plan for leftover ARB: We will continue the planned distributions outlined in the Angle STIP and the remaining ARB of the 1st disbursement will continue to be distributed according to the plan.

Summary of incentives:

The distribution started on November 7, 2023 and as of today 72,630 ARB have been distributed as follows:

  • stEUR-wstETH Camelot v3 pool: ≈ 12,020 ARB
  • stEUR-USDC Camelot v3 pool: ≈ 30,060 ARB
  • stEUR-ARB Camelot v3 pool: ≈ 30,530 ARB

Overall summary of the distribution to take place until the end of the STIP program:

  • ≈35% (250,000 ARB) will be allocated to the stEUR/USDC Camelot v3 pool
  • ≈35% (250,000 ARB) will be allocated to the stEUR/ARB Camelot v3 pool
  • ≈14% (100,000 ARB) will be allocated to the stEUR/wstETH Camelot v3 pool
  • ≈14% (100,000 ARB) will be allocated to an ecosystem integration of stEUR in a money market (Radiant)

Additional Info / Disclosures to Multisig: N/A

STATS

Average daily TVL:

  • stEUR-wstETH: $0.559k (over 10 days as distribution started on November 7, 2023)
  • stEUR-USDC: $4.13m (over 10 days as distribution started on November 7, 2023)
  • stEUR-ARB: $1.95m (over 10 days as distribution started on November 7, 2023)

Average daily transactions:

  • stEUR-wstETH: 734
  • stEUR-USDC: 3,058
  • stEUR-ARB: 2,530

Average daily volumes:

  • stEUR-wstETH: $0.261k (over 10 days as distribution started on November 7, 2023)
  • stEUR-USDC: $1.98m (over 10 days as distribution started on November 7, 2023)
  • stEUR-ARB: $1.07m (over 10 days as distribution started on November 7, 2023)

Number of unique user addresses:

Omitted as calculations are not reliable. Working on retrieving data on all addresses in concentrated liquidity pools and not only positions or rewarded addresses.

Transaction fees:

Overall data to be updated with next report.

Last 24 hours transaction fees:

  • stEUR-wstETH: 2500
  • stEUR-USDC: 3600
  • stEUR-ARB: 4200

Link to Dashboard showing metrics:

Available soon. Dune Dashboard under preparation by OpenBlock and Angle.

Plan For the Next Two Weeks

Amount of ARB to be distributed: 100,000 ARB

Contracts that will be incentivized:

  • stEUR-wstETH: 0x6C41A770583Fc7141FBeA9ac741f9015A4De6FDa
  • stEUR-USDC: 0xcc4e4c18bad7e1cc63bb98915eeb3f412939955e
  • stEUR-ARB: 0xcae4a98685fd488e8d2fc3780baabc7d472f9d01

Contract address label Form completed for all addresses: Yes

Mechanism for distribution incentives:

The pools to be set up are concentrated liquidity pools on Camelot.

Incentivizing concentrated liquidity is initially difficult to implement. To do so, Angle will use Merkl, the tool developed by Angle Labs.

This tool is already in use since 2022 and trusted by several concentrated liquidity DEXes and projects to incentivize concentrated liquidity including Uniswap, Camelot, Sushiswap, Retro and others.

Fees do not apply when Merkl is used to incentivize agEUR and stEUR pools. This means the the use of Merkl will not incur any fees charged to the benefit of Angle Labs.

Summary of incentives plan:

  • stEUR Camelot pools incentives

Summary of changes to the original plan: No changes.

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Recap of the Previous Two Weeks (Dec 1st, 2023)

The distributions for Angle started on November 7, 2023, with a first iteration of 100k ARB from the 7th of November to the 21st of November and a second iteration from the 21st of November to the 5th of December and as of today 172,138 ARB have been distributed as follows:

  • stEUR-wstETH Camelot v3 pool: 28,686 ARB
  • stEUR-USDC Camelot v3 pool: ≈ 71,726 ARB
  • stEUR-ARB Camelot v3 pool: ≈ 71,726 ARB

The remaining ARB of the 2nd disbursement will continue to be distributed according to the plan.

ARB Received Last Disbursement: 100,000 ARB

Contracts incentivized over the last 2 weeks:

  • stEUR-wstETH: 0x6C41A770583Fc7141FBeA9ac741f9015A4De6FDa
  • stEUR-USDC: 0xcc4e4c18bad7e1cc63bb98915eeb3f412939955e
  • stEUR-ARB: 0xcae4a98685fd488e8d2fc3780baabc7d472f9d01

Contract address label Form completed for all addresses: Yes

ARB left over: 500,000 ARB

Plan for leftover ARB: We will continue the planned distributions outlined in the Angle STIP and the remaining ARB of the 2nd disbursement will continue to be distributed according to the plan.

Summary of incentives:

Over the last two weeks (starting Nov 21st), 72,630 ARB have been distributed as follows:

  • stEUR-wstETH Camelot v3 pool: ≈ 12,020 ARB
  • stEUR-USDC Camelot v3 pool: ≈ 30,060 ARB
  • stEUR-ARB Camelot v3 pool: ≈ 30,530 ARB

Overall summary of the distribution to take place until the end of the STIP program:

  • ≈35% (250,000 ARB) will be allocated to the stEUR/USDC Camelot v3 pool
  • ≈35% (250,000 ARB) will be allocated to the stEUR/ARB Camelot v3 pool
  • ≈14% (100,000 ARB) will be allocated to the stEUR/wstETH Camelot v3 pool
  • ≈14% (100,000 ARB) will be allocated to an ecosystem integration of stEUR in a money market (Radiant)

Additional Info / Disclosures to Multisig: N/A

STATS since Nov 21st 2023

Average daily TVL:

  • stEUR-wstETH: $850k
  • stEUR-USDC: $4.07m
  • stEUR-ARB: $2m

Average daily volumes:

  • stEUR-wstETH: $140k
  • stEUR-ARB: $377k
  • stEUR-USDC: $800k

Number of unique user addresses rewarded :

  • stEUR-wstETH: 44 users
  • stEUR-ARB: 75 users
  • stEUR-USDC: 200 users

Transaction fees:

Last Avg 7 days transaction fees:

  • stEUR-ARB: 268$
  • stEUR-wstETH: 60$
  • stEUR-USDC: 250$

Link to Dashboard showing metrics:

Plan For the Next Two Weeks

Amount of ARB to be distributed: 100,000 ARB

Contracts that will be incentivized:

  • stEUR-wstETH: 0x6C41A770583Fc7141FBeA9ac741f9015A4De6FDa
  • stEUR-USDC: 0xcc4e4c18bad7e1cc63bb98915eeb3f412939955e
  • stEUR-ARB: 0xcae4a98685fd488e8d2fc3780baabc7d472f9d01

Contract address label Form completed for all addresses: Yes

Mechanism for distribution incentives:

The pools to be set up are concentrated liquidity pools on Camelot.

Incentivizing concentrated liquidity is initially difficult to implement. To do so, Angle will use Merkl, the tool developed by Angle Labs.

This tool is already in use since 2022 and trusted by several concentrated liquidity DEXes and projects to incentivize concentrated liquidity including Uniswap, Camelot, Sushiswap, Retro and others.

Fees do not apply when Merkl is used to incentivize agEUR and stEUR pools. This means the the use of Merkl will not incur any fees charged to the benefit of Angle Labs.

Summary of incentives plan:

  • stEUR Camelot pools incentives

Summary of changes to the original plan: No changes.

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