Geyser Refresh for Q4 2023

Thanks everyone for the contributions and thoughts. A couple things I’ve registered:

  • General support for increasing backing on SPOT
  • Geyser rewards only help grow the ecosystem if those outside the ecosystem know about it
  • Let’s keep an eye on the liquidity pools to see how they may or may not react
  • Interest in a Poolside incentivized pool and/or stAMPL pool
  • Interest in SPOT rewards

From the outset, I think a good strategy for the DAO is to be very clear about “what, specifically, the ecosystem needs to move forward”, and then to use it’s resources in pursuit of those.

So when it comes to liquidity, there’s a question for the DAO-- What does it want to own and what does it want to rent? LP positions on Uniswap-style pools incur IL for the depositors. Traditionally projects have added rewards in order to counteract that risk, but I think the DAO is happy to take on that risk. So it makes sense for it to be a primary owner of that liquidity.

AMPL is a scarce resource, and I think the DAO has many uses for it going forward, especially in terms of bootstrapping SPOT and stAMPL. I have some thoughts there, but I’ll break that out into a separate plan/proposal. So I’m hesitant to be too quick to hand those out if it’s not immediately needed.

One big benefit of Poolside is that LPs do not incur (long term) IL, so it is already a much better deal for LPs, with less risk. Does the ecosystem need a stAMPL pool to grow? I think that’s a harder case to make at the moment. A little stickiness in vault deposits… is not a bad thing, all considered. And also–if you think there’s a market for people exiting their stAMPL positions quickly, and you already hold stAMPL, please go forth and create that pool! If it’s needed, it will get volume :+1:
(Probably worth a quick check with the Poolside team to make sure it’s supported first)

If there’s rough consensus that the initial plan is good enough to move forward, I’ll aim to post a snapshot vote tomorrow before the weekend.

1 Like