What are we proposing
As part of the upcoming boom on Avalanche we want to ensure that Pangolin retains high liquidity for some key strategic pools. These pools are:
- AVAX - ETH.e
- AVAX - USDT.e
Due to the competitive nature of the space, a lot of rewards have been offered by other platforms to capture these key pools.
As an example in today’s USD terms Trader Joe offers $236K daily to those three pools. This has seen a lot of liquidity move off Pangolin. Currently Pangolin has only been offering $26K worth of rewards to these pools. This has resulted in some of the exodus of capital.
This proposal is to increase the rewards for those key pools to ensure we remain competitive and capture high TVL in what we consider strategic pools.
What changes are being made?
Currently the pools have the following weights:
|Pair||Joe Emissions (In USD)||PNG Emissions (In USD)||Proposed Multiplier Change|
As you can see TJ has very aggressive emissions. So we need to ensure that we can be competitive.
In our prediction of moving these weights up, we should see our PNG rewards start to equal Trader Joes and still only make up 32% of our daily emissions.
These pools are very important with the massive influx of lending and borrowing protocols launching on Avalanche. They are highly prized and we need to ensure we’re protecting them.
As such we will be putting up a snapshot vote in the next day or so, so that we can move quickly with this change.