Read on Twitter
1/ Expecting to see roughly ~$35K-$40K in the FeeCollector for @idlefinance's smart treasury at the end of week 2.
Currently at $16.2K on day 3 of week 2
80% of this will go towards the @BalancerLabs pool which essentially acts as a buyback machine. https://etherscan.io/address/0xBECC659BFC6EDCA552FA1A67451CC6B38A0108E4
Currently at $16.2K on day 3 of week 2
80% of this will go towards the @BalancerLabs pool which essentially acts as a buyback machine. https://etherscan.io/address/0xBECC659BFC6EDCA552FA1A67451CC6B38A0108E4
2/ I can't wait to see how this plays out once the Balancer pool have a large enough liquidity to incentivize $idle traders to move from Uniswap trading over to Balancer
Remember, all of the swap fees in the Balancer pool also go towards the smart treasury (+bal lp rewards)!
Remember, all of the swap fees in the Balancer pool also go towards the smart treasury (+bal lp rewards)!
3/ This makes me equally bullish on $bal because a moat is building for the $idle trading pair and it's inevitable that the majority of trading volume will move to Balancer overtime as the FeeCollector contract continues to buy up idle tokens
Huge boon for both idle and bal!
Huge boon for both idle and bal!
4/ One additional point that investors often overlook with protocol TVLs is the fact that -not every TVL is equal-.
TVLs with a larger portion of its holdings in stablecoins, $BTC, and $ETH are much more valuable and I probably don't need to explain too much on the 'why'
TVLs with a larger portion of its holdings in stablecoins, $BTC, and $ETH are much more valuable and I probably don't need to explain too much on the 'why'
5/ Stablecoins/BTC/ETH TVLs are less volatile which helps present a clearer picture of the protocol's future cash flows and ROI for investors.
This versus a number of protocols out there where 20-30% of their TVL might be inflated by the protocol's own native staked tokens..
This versus a number of protocols out there where 20-30% of their TVL might be inflated by the protocol's own native staked tokens..
6/ @idlefinance might seem like it has a relatively low TVL at $125M, but remember, ALL of this is locked stablecoins with a small portion in BTC.
In a potential market downturn, other protocol TVLs are at risk of losing 50-90% of their TVL while IDLE remains stable.
In a potential market downturn, other protocol TVLs are at risk of losing 50-90% of their TVL while IDLE remains stable.
7/ Kudos to @BalancerLabs also for making it possible for IDLE to implement the smart treasury buy-back machine
The balancer pool is revolutionary and I can't wait to see your moat continue to grow as other protocols follow suit and implement similar buy-back models.
The balancer pool is revolutionary and I can't wait to see your moat continue to grow as other protocols follow suit and implement similar buy-back models.
8/ For anyone new here and doesn't know what I'm talking about, check out the proposal here on the implementation of the smart treasury & buyback which was completed last week: https://gov.idle.finance/t/iip-2-add-a-smart-treasury-to-idle/211
