Timeswap Bi-Weekly Update January 26, 2024
Recap of the Previous Two Weeks
ARB Received Last Disbursement: 28,572 ARB
ARB Utilized as Incentives in the Last 2 Weeks:
- Total: 31,094.82 ARB
- Distribution as per the table below
- Sheet is viewable in this link: [PUBLIC] Timeswap_ARB_STIP_Report - Google Sheets
Contracts incentivized over the last two weeks:
- **100% (**31,094.82 ARB) - Timeswap Jan 26 Merkle distributor contract: 0xf966f801607507BDa6eA27fC143E6E19dcD9D8e6
Contract address label Form 5 completed for all addresses: Yes
ARB left over: 86,642.12 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)
Additional Info / Disclosures to Multisig: N/A
STATS
Figures from January 12, 2024 to January 26, 2024.
Average daily TVL: $9,589,621
Average daily transactions: 88 transactions (Lend: 61; Borrow: 27)
Average daily volumes: $242,923 (Lend: $133,278; Borrow: $109,645)
Number of unique user addresses: 408 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:
- Extension of distribution to be in-line with the STIP’s extension, to no later than March 31, 2024
- Addition of support for LST markets (originally exclusively for ETH markets)