Timeswap STIP Final Update

37a6d657f143a0108ffaf3430c6a35ff0431a88d_2_690x230

ARB STIP kickstarted Timeswap’s growth

  • Timeswap’s ARB incentives started on November 14, 2023 and ended at March 31, 2024
  • Our metrics (TVL, Users, volume) have been on a consistent uptrend since the ARB STIP begun
  • Pre-STIP peak TVL $1.5m vs Post STIP peak TVL $10m (6.5x growth)
  • Total users pre STIP 4173 vs Post STIP total users 11496 (3x growth)
  • Lend volume pre STIP $12m vs Post STIP lend vol $36m (3x growth)
  • Borrow volume pre STIP $6m vs Post STIP borrow vol $19m (3x growth)

TVL growth

  • ARB incentives started on November 14, 2024 and begun the uptrend
  • Our average TVL reached a peak of $9.3mn at January 2024
  • Minor declines on the following months, though still 4-fold increase from our pre-incentives period

User growth

  • Our average DAU showed an overall uptrend compared to pre STIP period, when coupled with the increasing TVL and median volume, it reflects that we are acquiring higher-value users (higher deposit/user)
    • This is further supported by the metric of median ticket size of our user base

Screenshot 2024-05-01 at 4.24.48 PM

  • There has been a near 3-fold increase in our total unique users before and after the incentives
    • November 14, 2023: 4,173 total unique users
    • March 31, 2024: 11,496 total unique users

Volume growth

  • Using median volume (instead of average) to remove skewed days caused by arbitrage transactions
  • The median volume has shown an overall uptrend, peaking at 2.5-fold of the pre-incentives median volume

TIME allocation

  • We allocated more than the committed 1.00% of TIME supply as incentives to Arbitrum pools

Screenshot 2024-05-01 at 4.25.34 PM

List of incentivised pools

The original 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)

There were minor adjustments to the original allocations, rerouting from the partner allocations to ARB and ETH markets, resulting in the following distribution (per category, and per pool):

Untitled (18)

Recap of the Previous Two Weeks

ARB Received Last Disbursement: 0 ARB

ARB Utilized as Incentives in the Last 2 Weeks:

  • Total: 17,590.44 ARB
  • Distribution as per the table below:

Untitled (20)

Contracts incentivized over the last two weeks:

  • **100% (**17,590.44 ARB) - Timeswap Apr 5 Merkle distributor contract: 0x46cf04409d966a03c9eec97875e50a875ee8056b

Contract address label Form 5 completed for all addresses: Yes

ARB left over: 102.15 ARB

Plan for leftover ARB:

  • We will be returning it to the Arbitrum DAO.

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 original 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)

There are some slight adjustments of the allocations, rerouting from the partner allocations to ARB and ETH markets, resulting in the following distribution:

Untitled (18)