Rodeo Finance Bi-Weekly Update Feb 21, 2024
Recap of the Previous Two Weeks
ARB Received Last Disbursement: 142,860 (Rodeo received the first disbursement of grant as part of the Backfund program incentives on Feb 14, 2024.)
ARB Utilized as Incentives in the Last Two Weeks: 0
Contracts incentivized over the last 2 weeks: N/A
Contract address label Form completed for all addresses: To be updated once incentives begin to distribute
ARB left over: 142,860 in MS + 107,140 to be dripped = 250,000 ARB has not yet been distributed for use
Plan for leftover ARB: Rodeo is revising our plan to distribute the ARB incentives based on data accumulated through our ARB incentives from the GMX grant. Target to release for new bi-weekly update
Rodeo has a clear friction point with our lending pool liquidity and clear high demand on the farm side (lending liquidity fully used every time liquidity is deposited). As we work to balance the align both lending / borrow participants we are considering evaluating how the ARB incentives use can better help us overcome this friction point as the existing plan has not moved the needle for a significant impact.
By altering the structure, we aim to avoid a situation where we keep turning up incentives emissions without any significant positive impacts and instead find a solution which drives sustained demand to the lending side of Rodeo and greater Arbitrum ecosystem.
The plan is to further gamify participation in our lending pool for maximum participation and sticky liquidity.
Summary of incentives: Details to be provided at next bi-weekly update
Additional Info / Disclosures to Multisig: arb1:0x7F783Eaa224a4c87369Bc6Cf44592DB876297f5A
STATS
Average daily TVL: 1,349,960.70
Number of unique user addresses: 859 addresses with 226 unique holders
Link to Dashboard showing metrics: (http://api.rodeofinance.xyz/dashboard)
Plan For the Next Two Weeks
Amount of ARB to be distributed: tbd
Contracts that will be incentivized:
Lending Pool
*Rodeo Finance: Pool (USDC) | Address 0x0032F5E1520a66C6E572e96A11fBF54aea26f9bE | Arbiscan
Farms
0x49D6…d1B2
0x4c38…Ff28
0x2b73…7605
0x37E3…B17b
0x9130…EfD0
0x7011…d0f5
0x7bDa…BaB8
0x4451…Cf92
0x3e3c…12B7
0x6403…66D7
0xe3D0…EebD
0x88C9…0699
0x61d9…95C1
0x21D8…c7c6
0xA36b…76b0
0x9fab…927A
Contract address label Form completed for all addresses: [Insert Yes once Completed]
Mechanism for distribution incentives:
- Snapshot of daily positions
- Weekly snapshots are summarized to calculate proportional value for farms
- Epoch based snapshots of points are summarized to calculate proportional value for lending
- ARB incentives are distributed to a claim contract
- users can manually claim
Summary of incentives plan: |
Rodeo “Running of the Bulls’’ Campaign will be focused on attracting lending liquidity to the pool by allocating part of the STIP incentives to the program with 70% of grant funds.
- RotB will run estimated 3 epochs (epoch = 2 month)
- During each Epoch a set amount of ARB incentives will be earmarked for the points program
- RotB ARB will be distributed based on accumulated points in the program (on top of the ongoing incentives which are at a lower rate)
- Points are accumulated only for those who sign up and earn via referrals, lending $ amount, time in lending pool, locked ribUSDC, and rbLP boosted
Farms will be incentivized with the remaining ~30% of grant over the same period
Summary of changes to the original plan:
Rodeo will divert a greater amount of incentives to the lending pool approx 70% via the campaign above, aimed to attract users and sticky capital to provde liquidity for use in the leverage strategies. The Farms have a high demand a high yield, and will benefit from the lending fund capacity while still being incentivized at 30% of the grant.