# Geyser Refresh for Q3 2025 **URL:** \ **Category:** Ampleforth Governance\ **Created:** [June 17, 2025, 8:48pm UTC](https://forum.ampleforth.org/t/geyser-refresh-for-q3-2025/857 "2025-06-17T20:48:45Z")\ **Posts on this page:** 6\ **Page:** 1
**Author:** ![Brandon](https://yyz2.discourse-cdn.com/flex030/user_avatar/forum.ampleforth.org/brandon/32/301_2.png) [@Brandon](https://forum.ampleforth.org/u/Brandon)\ **Post date:** [June 17, 2025, 8:48pm UTC](https://forum.ampleforth.org/t/geyser-refresh-for-q3-2025/857/1 "2025-06-17T20:48:45Z")
The current round of geysers is ending, let’s look to what’s next. ## State of Ecosystem Liquidity | Platform | Pair | TVL | Dashboard | | --- | --- | --- | --- | | Uniswap v2 | AMPL/ETH | $2.2M | ([link](https://app.uniswap.org/explore/pools/ethereum/0xc5be99A02C6857f9Eac67BbCE58DF5572498F40c)) | | Uniswap v3 | WAMPL/WETH | $1.2M | ([link](https://alpha.charm.fi/ethereum/vault/0x9658b5bdcad59dd0b7b936d955e5df81ea2b4dcb)) | | stAMPL Flash Swap | AMPL/SPOT | 617.81k AMPL | ([link](https://app.spot.cash/)) | ## Treasury Spotlight As of July 16th, 2025 | DAO Assets | Balance | Value | | --- | --- | --- | | AMPL | 1,938,022.79 | $2,558,190.08 | | WAMPL | 13,971.91 | $56,167.09 | | FORTH | 1,901,583.70 | $4,868,054.26 | | SPOT | 4,735.83 | $5,825.07 | | USDC | 2,572,850.29 | $2,572,850.29 | | ETH | 4.20 | $11,130.02 | | WETH | 4.75 | $12,576.67 | | GRT | 47,500.10 | $4,334.48 | | Total | | $10,089,127.96 | | Liquidity Positions | Balance | Value | | --- | --- | --- | | ETH/AMPL UniV2 | 0.07746149151 | $739,122.85 | | WETH/WAMPL UniV3 (Charm) | 45,336.51 | $646,913 | | FORTH/WETH UniV3 (Charm) | 100,000.00 | $502,690 | | stAMPL | 1,797.38 | $719,044.31 | | Total | | $2,607,770.56 | # Inflows From Managed Vaults | Asset | Amount | Value | | --- | --- | --- | | WETH | 4.747793 | $12,083.89 | | WAMPL | 1,175.649484 | $4,443.95 | | USDC | 4,059.24 | $4,059.24 | | SPOT | 4,399.01 | $5,410.78780029 | | Total | | $25,997.86 | # Inflows from Bill Broker | Asset | Amount | Value | | --- | --- | --- | | USDC | 7058.956314 | $7,058.95 | | SPOT | 1389.899923 | $1,709.57 | | Total | | $8,768.53 | ## Proposed Configuration Last January, the Crystal WAMPL/WETH geyser was given 37,500 FORTH to distribute to liquidity providers over the course of six months. That geyser currently shows $203,221 of deposits with the following APYs ([dashboard](https://geyser.ampleforth.org/geysers/crystal-geyser-v2)): - LP APY: 24.61% - Geyser drip rate: 13.10% When putting the impact of the geysers into perspective, there are a few things to note: The base LP APY is a healthy 24.6%, rivaling many other incentive programs’ top line numbers. The geyser incentives are below the real yield of the marketplace, by nearly 50%. The total liquidity share of geyser deposits are \< 6% of the total Uniswap liquidity, and this is not accounting for the AMPL liquidity accessed via SPOT and stAMPL flash swaps. The DAO is also sitting on \> $2M of USDC. Combined with matching AMPL, this is more than 20x what the geyser program is generating. One long term goal of the DAO has been to own enough liquidity, and/or develop a liquidity landscape that is profitable enough, such that spending down assets to rent liquidity temporarily is no longer necessary. When you look at the geyser program in comparison to the broader landscape, it seems that renting out liquidity is no longer an impactful activity. If so, this would mark a major achievement and milestone for the ecosystem and the DAO. Since there is ongoing development with the SPOT ecosystem, from [v5](https://forum.ampleforth.org/t/spot-v5-0-upgrade/855) to a potential launch with [Asymmetry](https://www.asymmetry.finance/ampusd), there is still potentially great value in continuing with the Riverside geyser. With respect to SPOT and stAMPL, the correct side to incentivise is the stAMPL side. stAMPL depositors hold the largest upside, but also the most risk. And if there is any excess demand for stAMPL that easily propagates towards demand for the lower vol SPOT asset liquidity. The proposed period for the next program is 6 months, as used in the last cycle. | Geyser | Platform | Pair | Chain | Period | FORTH Amount | | --- | --- | --- | --- | --- | --- | | Riverside | Rotation Vault | stAMPL | Ethereum | 6 months | 50,000 FORTH | | Total | | | | | 50,000 FORTH | ---
**Author:** ![Togenkyo](https://yyz2.discourse-cdn.com/flex030/user_avatar/forum.ampleforth.org/togenkyo/32/102_2.png) [@Togenkyo](https://forum.ampleforth.org/u/Togenkyo)\ **Post date:** [June 18, 2025, 11:41am UTC](https://forum.ampleforth.org/t/geyser-refresh-for-q3-2025/857/2 "2025-06-18T11:41:20Z")
I agree with the stance that rented liquidity wont be the way forward in the future and that DAO owned liquidity should be our long-term goal. I would avocate however for an increase in the Geyser rewards for stAMPL from 37,500 to at least 50,000 FORTH if not higher for two reasons: 1. It would make a greater incentive for people who have left the stAMPL vault to come back again. They might be sceptical at first of doing so, because of their experience of having been burned in the past. 2. I expect that the new stAMPL changes will make the native APY for the stAMPL vault highly volatile and unpredictable. Having a greater Geyser reward would bring back some security to stAMPL holders, who will have to navigate through potentially very high SPOT enrichment phases that are new to them. ### In short: I am for sunsetting the Crystal Geyser and redirecting part of its rewards (or all of it) to the Riverside Geyser (\>50,000 FORTH). The rewards can then be lowered in future rounds. ---
**Author:** ![Pascal](https://avatars.discourse-cdn.com/v4/letter/p/e9a140/32.png) [@Pascal](https://forum.ampleforth.org/u/Pascal)\ **Post date:** [June 18, 2025, 5:49pm UTC](https://forum.ampleforth.org/t/geyser-refresh-for-q3-2025/857/3 "2025-06-18T17:49:09Z")
I agree with Togenko. Without stAmpl there is no Spot. And stAmpl is a key driver for Spot growth. I think some of the funds that were slated for the WAMPL/ETH pool should be directed to the stAMPL pool. Especially now as Spot liquidity is low. This coupled with the new fee structure can significantly spur Spot growth. Spot is a critical piece of the future of Ampl and I think there needs to be more effort in growing it. ---
**Author:** ![Brandon](https://yyz2.discourse-cdn.com/flex030/user_avatar/forum.ampleforth.org/brandon/32/301_2.png) [@Brandon](https://forum.ampleforth.org/u/Brandon)\ **Post date:** [June 19, 2025, 10:05pm UTC](https://forum.ampleforth.org/t/geyser-refresh-for-q3-2025/857/4 "2025-06-19T22:05:54Z")
Thanks for the well-formed thoughts Togenkyo, and I agree with your conclusions. Pascal, here, and others in the Discord have also put forward similar support. I’ll update the proposed value from 37,500 to 50,000. ---
**Author:** ![Brandon](https://yyz2.discourse-cdn.com/flex030/user_avatar/forum.ampleforth.org/brandon/32/301_2.png) [@Brandon](https://forum.ampleforth.org/u/Brandon)\ **Post date:** [June 24, 2025, 11:07pm UTC](https://forum.ampleforth.org/t/geyser-refresh-for-q3-2025/857/5 "2025-06-24T23:07:27Z")
Signal vote is here, and will start in ~1 day [https://signal.ampleforth.org/#/proposal/0xf6413a7f2fc081c9f860d9cd25cd4e15113457ec627934b1048de1b51825ad4f](https://signal.ampleforth.org/#/proposal/0xf6413a7f2fc081c9f860d9cd25cd4e15113457ec627934b1048de1b51825ad4f) ---
**Author:** ![Brandon](https://yyz2.discourse-cdn.com/flex030/user_avatar/forum.ampleforth.org/brandon/32/301_2.png) [@Brandon](https://forum.ampleforth.org/u/Brandon)\ **Post date:** [June 30, 2025, 8:55pm UTC](https://forum.ampleforth.org/t/geyser-refresh-for-q3-2025/857/6 "2025-06-30T20:55:42Z")
The onchain vote is submitted, voting will open in ~2 days. > **[Tally | Ampleforth | Geyser Refresh for Q3 2025](https://www.tally.xyz/gov/ampleforth/proposal/50?govId=eip155:1:0x8a994C6F55Be1fD2B4d0dc3B8f8F7D4E3a2dA8F1)** > > Geyser Refresh for Q3 2025