Savvy Bi-Weekly Update #1
Feb 16, 2024
Recap of Previous Two Weeks
As Savvy is working towards generating the highest possible return-on-emissions, the reward distribution has been optimised in several venues. The details of the optimization can be found under SavvyDAO’s Forum comment dated January 31st, including the recording of the rationale here.
Since the rollout of STIP LP incentives and recently the STIP ARB Booster, Savvy has seen significant growth in LP depth on all pools, TVB (Total Value Borrowed), TVL (Total Value Locked), and the number of active users. Due to the success of the STIP ARB Booster, several deposit strategies have been maxed out, and deposit caps have been increased.
In addition to the STIP LP incentives and the STIP ARB Booster, Savvy, working together with Bond Protocol, Steer, Serious People has deployed SVY-ETH LP/ARB bonds over Sushi on February 15th; becoming the first project to launch on the platform. This bond has an allocation of 115,000 ARB, and the LPs will be kept in the pools with the sole purpose of creating deep SVY governance token liquidity, which will directly influence Savvy’s stability.
ARB activity previous two weeks
ARB Received to date: 114,288 ARB
ARB Received Last Disbursement: 28,572 ARB
ARB Utilized as Incentives in the Last Two Weeks: 8,181 ARB (LP incentives), 22,000 ARB (Funding bond)
Contract address label Form completed for all addresses: Yes
ARB leftover: 73,062 ARB
Plan for leftover ARB: 12,193 will be used to fund STIP ARB Booster for amounts earned by users from February 5th till February 15th, 50,000 will be used to fund the bond deployer, 8,181 ARB will be used to fund the next two epochs of LP rewards.
The following LP incentives have been sent to the eligible liquidity pools over the last two weeks:
| Platform | Pool | Address | Amount (ARB) | Weight |
|---|---|---|---|---|
| Uniswap | SVY-WETH | 0xc3fcf0ef6635f0157f567f92050a23d407976daa | 1,636.36 | 20% |
| Uniswap | svUSD-FRAX | 0x28082db75615849d12f37627e614b479749c7903 | 1,636.36 | 20% |
| Uniswap | svETH-frxETH | 0x6a28350341a27e98170b6e8274bf2382b4dae6ac | 1,636.36 | 20% |
| Camelot | svBTC-WBTC | 0x53F973256F410d1D8b10ce72D03D8dBBD3b1066E | 1,454.54 | 17.78% |
| Balancer/Aura | svUSD-svBTC-svUSD | 0xd1882ca6a22f3df54cd675b300b815864de67b20 | 1,818.18 | 22.22% |
| Total | 8,181.80 | 100% |
Snapshot of Current Protocol Stats
Average daily transactions: 90.5
Number of unique user addresses this epoch: 290
Transaction Fees: 164.05 USD
Detailed dashboard is in development in collaboration with OBL.
Plan for next two weeks
The LP incentives are planned to be emitted the same as the prior two weeks, totaling 8,181 ARB. 50,000 ARB will be deposited to the bond deployer. 9,268 ARB will be deposited to the STIP ARB Booster contract. No other changes are planned.