Angle Liquidity Mining Week2

1

Each week an amount of tokens is to be distributed to participants in the Angle Protocol. Next week (from this Wednesday to next Wednesday), 3,082,702 ANGLE tokens will be distributed (Angle Liquidity Mining Program - Google Sheets)
Before we update to a better system involving gauges, the Core Team proposes the following distribution:

  • 60% agEUR

  • 10% sanUSDC_EUR

  • 10% sanDAI_EUR

  • 1% HA_DAI

  • 1% HA_USDC

  • 9% Sushi ANGLE/agEUR

  • 9% G-Uni agEUR/USDC

The rationale is the following:

  • We don’t want to decrease agEUR rewards by too much in order not to penalize people which took agEUR and payed the gas fees to stake it
  • The protocol does not need to distribute that much to sanToken holders: it is sufficiently over-collateralized and by growing the amount of agEUR, the native APY for USDC also increases
  • It’s important to have some rewards for HAs to be covered a bit from the USD/EUR variation
  • It’s crucial to incentivize agEUR liquidity on other pools. This will truly show that agEUR is stable and works as a stablecoin. Incentivizing ANGLE-agEUR pool is a way to create extra utility for people staking and owning ANGLE tokens

Looking forward to hearing feedback/thoughts from the community

2

Maybe increase a little bit for HA to attract perps gamers?

3

I think it’s important to add pool on other platforms, it will attract more people to stake their coins.

4

That’s a good point, we’re currently waiting for Sushi to open their Onsen program on some Angle pools so we can incentivize the pool there directly!

About week’s 2 distribution, I think it’s great.

One thing coming to mind is that we should be careful not to incentivize too many pools at the same time in the future, so that rewards are not too diluted.