Timeswap Bi-Weekly Update December 15, 2023
Recap of the Previous Two Weeks
ARB Received Last Disbursement: 57,144 ARB
ARB Utilized as Incentives in the Last 2 Weeks:
- Total: 12,967.8 ARB
- Distribution as per the table below
Contracts incentivized over the last two weeks:
- 100% (12,967.8 ARB) - Timeswap Dec 13 Merkle distributor contract: 0xCF6d5c13b379C17BA3caD7F43D7bDD64D115791a
Contract address label [Form 5] completed for all addresses: Yes
ARB left over: 158,460.2 ARB
Plan for leftover ARB:
- We will continue following the high-level distribution as outlined in our initial STIP proposal.
Summary of incentives: Timeswap has been allocated a total of 200,000 ARB, all to be redistributed to users through interacting with the incentivised pools. The overall distribution of ARB rewards is as follows:
- 40% of the grant allocated as incentives to ARB markets
- 30% of the grant allocated as incentives to ETH (or ETH LST) markets
- 30% of the grant allocated as incentives to other markets such as Pendle, Trader Joe, GMX, Plutus, etc. (will not be utilized to incentivize TIME token pools, if any)
Bi-weekly summary:
- As of December 15, 2023, 12.15% (24,298 ARB) of the allocated ARB has been distributed to users as incentives.
Additional Info / Disclosures to Multisig: N/A
STATS
Figures from December 1, 2023 to December 15, 2023.
Average daily TVL: $5,654,669
Average daily transactions: 162 transactions (Lend: 129; Borrow: 33)
Average daily volumes: $504,312 (Lend: $366,858; Borrow: $137,454)
Number of unique user addresses: 1,107 unique users
Transaction fees: N/A (under development)
Link to Dashboard showing metrics: https://analytics.timeswap.io/
Plan For the Next Two Weeks
Amount of ARB to be distributed: There is not a fixed amount as we are pending confirmations from our partners. The exact amount distributed within the next two weeks is to be shared in the next bi-weekly report.
Contracts that will be incentivized: To be shared in the next bi-weekly report.
Contract address label Form 5 completed for all addresses: To be completed by the next bi-weekly report.
Mechanism for distribution incentives: Similarly to our current distribution, we’ll use a Merkle distributor to distribute the ARB rewards to users.
Summary of incentives plan: The overall distribution of ARB rewards will remain as per the original plan, as follows:
- 40% of the grant allocated as incentives to ARB markets
- 30% of the grant allocated as incentives to ETH (or ETH LST) markets
- 30% of the grant allocated as incentives to other markets such as Pendle, Trader Joe, GMX, Plutus, etc. (will not be utilized to incentivize TIME token pools, if any)
Bi-weekly summary to be shared in the next bi-weekly report…
Summary of changes to the original plan: More details to be shared in the next bi-weekly report. We are tentatively proposing the following changes:
- Inclusion of LST (e.g., wstETH) markets as part of the ETH markets bucket
- Possible extension of the distribution period to be in line with the DAO’s recent approval for timeline extension