The current round of geysers is ending, let's look toward the next.
Bill Broker
We should first recognizing how well the Bill Broker is serving its LPs. It's currently showing a 75% unincentivized APY, followed by a 13.5% APY from geyser incentives. This organic APY is especially impressive given that it's on a stable pairing that is already greatly shielded from IL.
While we can't necessarily expect this APY to stay this high forever, since we've been able to extract this data it has stayed over 40%. Comparable projects have grown much larger with much smaller yields.
In order to have an impact on future LPs, the DAO would have to compete with an already very high organic APY. As such, I believe the SPOT/USDC pairing on the Bill Broker does not require any more incentives from the DAO, and the reward assets would be more productively used toward other uses.
stAMPL
There have been many requests from the community for single sided staking options in the geyser. Depositors in the stAMPL vault take on the highest volatility, and as such I believe now would be the right time to launch a geyser for this platform for this critical group of users.
Poolside
Following discussion in the forum, the DAO's poolside funds will be migrated to Bill Broker and WAMPL/WETH liquidity. ETH and USDC will be transferred from the Timelock to support.
Treasury Spotlight
Below is a snapshot of DAO controlled assets, as of December 11th, 2024. Please note that all data below is summarized in a best effort form, from publicly available sources onchain.
| DAO Assets | Balance | Value |
|---|
| AMPL | 18,894,929.60 | $24,941,307.07 |
| WAMPL | 7,496.17 | $203,671.04 |
| FORTH | 2,575,904.35 | $13,703,811.16 |
| SPOT | 8,013.81 | $11,299.47 |
| USDC | 5,338.79 | $5,338.79 |
| ETH | 4.19 | $16,082.52 |
| WETH | 1.75 | $6,743.94 |
| GRT | 47,500.10 | $13,436.26 |
| Total | | $38,901,690.25 |
| Liquidity Positions | Balance | Value |
|---|
| ETH/AMPL UniV2 | 0.07746149151 | $2,186,741.91 |
| SPOT/AMPL Poolside | 0.0000280312168 | $298,331.14 |
| Bill Broker (SPOT/USDC) | 433,597,593,092.88 | $574,176.77 |
| stAMPL | 144.5633359 | $1,182,060.213 |
| WETH/WAMPL UniV3 (Charm) | 45,052.93 | $2,204,081.324 |
| FORTH/WETH UniV3 (Charm) | 100,000.00 | $724,040 |
| Total | | $7,169,431.35 |
Inflows From Managed Vaults
| Asset | Amount | Value |
|---|
| WETH | 1.751617211501443382 | $6,743.94 |
| WAMPL | 296.871042247507812327 | $8,065.99 |
| USDC | 3,006.82 | $3,006.82 |
| SPOT | 4,685.11722351 | $6,606.015 |
| Total | | $24,422.765 |
Proposed Configuration
Note the proposed period of 6 months is longer than the previous 4 month rounds
| Geyser | Platform | Pair | Chain | Period | FORTH Amount |
|---|
| Crystal | Charm Uniswap v3 | WETH/WAMPL | Ethereum | 6 months | 37,500 FORTH |
| Riverside | Rotation Vault | stAMPL | Ethereum | 6 months | 37,500 FORTH |
| Total | | | | | 75,000 FORTH |
