Improving ANGLE Token Utility

That makes sense but if the proce of angle continues to fall you have to pay tx fees to dump regularly which is worse than letting ageur accumulate.

What is the rationale behind putting barriers for angle holders to access the protocol’s revenue?

I am personally desperate for a reliable euro stablecoin I can farm to get reliable income and I am hoping Angle becomes that but it requires a strong valuation of the ANGLE token.

Here are some ideas to maximize your capital efficiency:

  • let angle stake the curve 3eur lp tokens in convex so that angle farms crv and cvx.
  • use the accumulated cvx and/or veCRV to vote for the 3eur gauge or other ageur gauges.
  • additionally, bribe cvx lockers on votium to boost that pool.
    Angle will in effect own liquidity for life on curve

2nd idea, as pouncerk7 suggested:

  • Create tokemak reactor, and an angle tagEUR deposit contract, and reward angle to stakers while farming TOKE for angle so that you can then vote on allocating liquidity where you want.

Also, why reward staking agEUR? That money does nothing beyond boosting your TVL numbers with short term farmers.

Good ideas!

The rationale behind putting some barriers for ANGLE holders to access the protocol’s revenue is that we don’t want the protocol revenue to go to people who are here only for the short term with Angle → by distributing this revenue to veANGLE holders, revenue goes to people who are here for the long term with the protocol and most incentivized with its success. It’s also a way to incentivize people to lock their tokens, thus reducing the circulating supply of the token.

I like your ideas for the capital efficiency, but the protocol does not control any of its agEUR, so we cannot really stake Curve 3EUR LP tokens in Convex to farm CRV and CVX. Only thing available at the moment is to bribe CVX lockers on Votium.

About rewarding agEUR, that was the easiest way to grow the protocol: if you grow agEUR, you grow the protocol, and can more easily break the chicken and egg problem. This makes it easier to fetch integrations. More and more we are incentivizing liquidity on exchanges

Thanks for your answers!

You have a curve 3eur staking contract that rewards ageur, couldn’t you make a v2 of this contract that puts the staked 3eur lp tokens on convex?

For the gatekeeping revenue to long term holders, I understand although disagree. It’s inconvenient for anyone participating and why would you need to lock people in for 4 years? Will these users really make better decisions for the protocol or will it simply keep a lot of people out, keep the price down and hinder TVL due to lower rewards?

The 3EUR Staking contract rewards ANGLE and not agEUR. Unfortunately, we cannot migrate people’s liquidity and we will start from now asking people to migrate their liquidity.

As for locking, 4 years is the maximum, people can lock up to just a week! This should most likely keep the price up as to receive rewards you should lock your tokens, and this will just decrease the circulating supply of the token

Updating this post with the tokenomics upgrade announcement article for reference: ANGLE tokenomics upgrade is on its way 🚀 | by Angle | Dec, 2021 | Angle Protocol

TLDR

  • veANGLE can be obtained by locking ANGLE from 1w to 4y (1 ANGLE locked 4y = 1 veANGLE).
  • veANGLE holders can get a boost on LP rewards up to x2.5.
  • veANGLE holders receive a share of the interests generated by the protocol.

We are now writing a series of articles to explain the details of the upgrade, will post the articles here as they are published!

ANGLE Upgrade Series