Vertex Protocol Bi-Weekly Update (Dec 15, 2023)
Recap of the Previous Two Weeks
Protocol incentives and the launch of $VRTX have created powerful flywheel for Vertex’s growth. We expect the Arbitrum STIP grant to continue to be conducive to increased taker flow, decentralized market making via Elixir Vertex Fusion Pools, and ultimately, more volume and users on Vertex.
ARB Received Last Disbursement: 428,572 (and 148,712.15 ARB leftover since prior update)
ARB Utilized as Incentives in the last 2 weeks:
- Vertex Trading Incentives: 420,822.03
- Elixir Liquidity Incentives: 49,203.21
- Total: 470,025.24
Contracts incentivized over the last 2 weeks: 0x75A99528b5FC4D328473032c9f390db7C8BabdF1 & 0x1bDB4C119225ABACa0bfe12610789902851221ab
Contract address label Form completed for all addresses: Yes
ARB left over: 107,258.91
Plan for leftover ARB: Will be allocated over the following weeks as per STIP plan
Summary of incentives: 3m total ARB across 12 weekly epochs to be distributed to:
- 2.55m - Vertex Trading incentives
- 450k - Elixir Liquidity Incentives
Additional Info / Disclosures to Multisig: N/a
STATS
Average daily TVL: $41,277,907
Average daily transactions: 42,360
Average daily volumes: $593,858,565
Number of unique user addresses: 1,935
Transaction fees: $1,739,092
Link to Dashboard showing metrics: https://dune.com/frijoles/vertex
Plan For the Next Two Weeks
Amount of ARB to be distributed: 500k
Contracts that will be incentivized:
0x75A99528b5FC4D328473032c9f390db7C8BabdF1
Contract address label Form completed for all addresses: 0x75A99528b5FC4D328473032c9f390db7C8BabdF1
Mechanism for distribution incentives:
Taker Rewards: Trading expenditure on taker fees is measured over the course of a weekly epoch. Once each epoch is completed we will build a merkle tree and register the merkle tree with the contract so that users can claim their ARB tokens using the proof.
Summary of incentives plan:
Up to 212.5k ARB to be distributed per week to price takers on Vertex with maximum determined as 75% of trading fees. (calculated using ARB value at end of weekly epoch)
Up to 37.5k ARB to be distributed to LP on Elixir with maximum determined as a 15% APR on TVL (calculated using ARB value at end of weekly epoch)
Summary of changes to the original plan: Distributions are being made weekly