Recap of the Previous Two Weeks
-
ARB Received Last Disbursement:
642,858 Received on the 22nd of February 2024 -
ARB Utilized as Incentives in the Last Two Weeks (Trading Incentives on gTrade and LP incentives):
692,292 $ARB, 10,000 $GNS -
Contracts incentivized over the last 2 weeks:
- gTrade Trading Incentives:
- Merkle Incentives
- Trader Joe:
-
Contract address label Form 16 completed for all addresses: YES
-
ARB left over: 68,811
-
Plan for leftover ARB: Same plan, trading incentives and liquidity provision. We had to drop one of our incentive categories - PnL% - as it was being sybiled by bots at the very end of each epoch.
-
Summary of incentives:
LP Incentives
- Uniswap v3
- GNS/ETH-0.3% (Uniswap Interface)
- GNS/USDC-0.05% (Uniswap Interface)
- gDAI/gUSDC-0.05% (Uniswap Interface)
- gETH/wETH-0.05% (Uniswap Interface)
- Trader Joe
- GNS/ETH-0.25%(LFJ | Crypto Trading Platform Built for Winners)
- Uniswap v3
-
Additional Info / Disclosures to Multisig: NONE
STATS
Liquidity Incentives
- Average daily TVL:
- gDAI Vault: 30.5M $DAI
- gUSDC Vault: 3.5M $USDC
- gETH Vault: 1.4k $ETH
- Uniswap GNS/ETH: 2.5M USD
- Uniswap GNS/USDC: 1.9M USD
- Uniswap gDAI/gUSDC: 3.6M USD
- Uniswap gETH/ETH: 2.4M USD
- Trader Joe GNS/ETH: 242k USD
- Average daily Volume:
- Uniswap GNS/ETH: 601k USD
- Uniswap GNS/USDC: 1.47M USD
- Trader Joe GNS/ETH: 428k USD
- Cumulative LP Fees:
- Uniswap GNS/ETH: 107k USD
- Uniswap GNS/USDC: 47k USD
- Trader Joe GNS/ETH: 61k USD
gTrade Trading Incentives
- Average daily transactions:
- 2,182 trades per day on average
- Total: 167,694
- Average daily volumes:
- 148.25M USD
- Total: 8.52B USD
- Number of unique user addresses:
- Total: 6,655 unique users
- Transaction fees:
- Past two weeks: 1.3M USD
- Total: 5.4M USD
- Link to Dashboard showing metrics:
https://dune.com/gains/gtrade-stats-arbitrum-stip
Plan For the Next Two Weeks
- Amount of ARB to be distributed: 346,153 $ARB per week
- Contracts that will be incentivized:
- gTrade Trading Incentives: Address: 0x6ac331b6...35e1006e8 | Arbitrum One
- Merkl:
- Trader Joe:
- Contract address label Form 16 completed for all addresses: YES
- Mechanism for distribution incentives:
- Gains Network distributes ARB incentives for trading through a custom contract labelled above.
- Rewards are streamed weekly (per epoch)
- For LP Incentives: we distribute them once every week in the above labelled contracts and then it’s handled by those contracts throughout the week.
- Summary of incentives plan:
- The protocol plans to continue to incentivize the existing Farms. Adjustments to incentive weights may be made to GNS & gDAI as needed. If any changes are made, they will be shown in the next report.
- Summary of changes to the original plan:
- As mentioned above, unfortunately, we had to drop our PnL% category for traders to win $ARB rewards by realizing high % profits throughout the week/epoch. This was due to bots placing many high-leveraged ‘delta-neutral’ trades towards the very end, diluting this reward pool. Albeit low EV for these sybil attacks, we had had to deprecate the category for now to prevent more $ARB being farmed inorganically. We’ll continue to think of ways to creatively incentivize traders and will update any changes in the next update(s).