Recap of the Previous Two Weeks
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ARB Received Last Disbursement:
642,858 Received on the 7th of March 2024 -
ARB Utilized as Incentives in the Last Two Weeks (Trading Incentives on gTrade and LP incentives):
697,493 $ARB, 10,000 $GNS -
Contracts incentivized over the last 2 weeks:
- gTrade Trading Incentives:
- Merkle Incentives
- Trader Joe:
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Contract address label Form 16 completed for all addresses: YES
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ARB left over: 19,368
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Plan for leftover ARB: Same plan, trading incentives and liquidity provision. For the tading incentives, the main focus for the last 2 weeks of the STIP will be on fee rebates and PnL rewards, with the latter effectively having gTrade host a ±$500k trading competition for Arbitrum traders.
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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: 30M $DAI
- gUSDC Vault: 5.3M $USDC
- gETH Vault: 1.6k $ETH
- Uniswap GNS/ETH: 2.2M USD
- Uniswap GNS/USDC: 2M USD
- Uniswap gDAI/gUSDC: 4.8M USD
- Uniswap gETH/ETH: 2.4M USD
- Trader Joe GNS/ETH: 147k USD
- Average daily Volume:
- Uniswap GNS/ETH: 721k USD
- Uniswap GNS/USDC: 1.5M USD
- Trader Joe GNS/ETH: 395k USD
- Cumulative LP Fees:
- Uniswap GNS/ETH: 137k USD
- Uniswap GNS/USDC: 57k USD
- Trader Joe GNS/ETH: 75k USD
gTrade Trading Incentives
- Average daily transactions:
- 2,067 trades per day on average
- Total: 196,628
- Average daily volumes:
- 147.03M USD
- Total: 10.57B USD
- Number of unique user addresses:
- Total: 6,951 unique users
- Transaction fees:
- Past two weeks: 1.5M USD
- Total: 7.0M 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, the main focus for the coming weeks will be on trading rebates and rewards for traders that manage to be profitable (PnL category). This effectively allows us to host a big trading competition, with the amount of $ARB translating to ±500k USD in prizes. This gives us the opportunity to test whether competitions of these sorts attract more traders/trades/volume//etc. than the other incentive categories we’ve introduced throughout the STIP.