Epoch 36 Update
Pools log
New pool: BOLD/USDC on EulerSwap
Deleted pool: BOLD/USDC on Uniswap v4 0.01% (no TVL + no volumes)
Yield opportunities
Stable/stable pools:
- BOLD/USDC on Uniswap V4, with 7.8% APR mostly in BOLD
- BOLD/USDC on Aerodrome, with 8.5% APR paid in AERO
- BOLD/LUSD on Aerodrome, with 8.9% APR paid in AERO
Stable/volatile pools:
- BOLD/BOTTO on Aerodrome, with 30% APR paid in AERO
Careful with stable/volatile pools as they are subject to impermanent loss. The best way to manage is to ensure that the pool’s exchange ratio is the same in and out (just like stable/stable pools do), and multiple rebalancing brings massive losses.
WTF is going on with Smardex?
It turns out that Smardex’s presence among liquidity initiatives is becoming increasingly toxic.
Firstly, Smardex has been receiving PIL rewards for 4 weeks in a row without distributing anything to the BOLD/WUSDN pool. Smardex is supposed to bribe veBAL & vlAURA voters to get BAL emissions on their pool, but this pool gets nothing.
Secondly, in case the veBAL/vlAURA bribe is no longer profitable, there are alternatives like Merkl (used by Gyroscope and Uniswap) so the liquidity providers get rewarded in BOLD. The problem is, Smardex doesn’t use it and we have no idea how the PIL is used right now.
Thirdly, Smardex is currently rebranding 
It seems the team doesn’t care of WUSDN anymore as they are building a new product.
So Liquity shouldn’t care either about BOLD/WUSDN pool as its utility was very limited outside of the yields offered to LPs
Maybe Smardex (soon to become “Everything”) might become another liquidity initiative in the future with its new product.
However, given all the reasons mentioned above, Smardex no longer deserves to be voted for.
Disclaimer
If certain interpretations seem incorrect and/or if you would like to share your own, please share them here. This topic has been created primarily for discussion.
