[FIP - 338] Implement sdFrax3CRV-f Gauge ragequit function with 7.5% withdrawal fee

Governance Proposals Gauges
1

Author

Lyule67.ETH

Summary

Implement sdFrax3CRV-f Gauge ragequit function with 7.5% withdrawal fee.

FXS Gauge: 0xEB81b86248d3C2b618CcB071ADB122109DA96Da2
LP Token: 0x5af15DA84A4a6EDf2d9FA6720De921E1026E37b7
Pool: 0xd632f22692FaC7611d2AA1C0D552930D43CAEd3B

Proposal Details

The statement has been made “if you want an unlock, refund all the rewards.”

Below, you will find math showing weighted calculations outlining the USD Value at time of emission of how many rewards the current and proposed-to-be-unlocked-TVL received.

Additionally, you will find the grand total of all rewards ever given.

I performed the following calculations in line with my previous work on the StakeDAO Frax Eth Put pool, which makes the following assumptions: the LP was max locked and then subject to linear decay until present time. The calculations only account for the boost of the proposed-to-be unlocked LP.

Total $value$ upon emission of lifetime rewards to entire pool = $1,105,164.7725

Total USD of all FXS rewards emitted to 4.769m LP valued at time of emission, using Max Boot of 3.0 with linear decay : $268,122.224

$268,122.224 / 4.769m = 5.6%

I propose the StakeDAO sdfrax3crv-f Pool be unlocked for a tax-fee equal to the USD-Value-at-time-of-Emission of $ 26 8,122.224 = 5.6% + ( ( slippage + Dev time ) = 1.9% ) = 7. 5 %

Thank you for your time,
Lyule67.ETH

Voting

  • For: Implement sdFrax3CRV-f Gauge ragequit function with 7.5% withdrawal fee.
  • Against: Do nothing.

======================================================================

Cycle 2023-C90

Voting: Sep 13, 2023 - Sep 20, 2023

APR: Sep 20, 2023 - Sep 27, 2023

4.769mm / Current TVL FXS 69

( 4.769 * 2.233) / m vTVL = 99.892% = %vTVL%

(5.357+5.217+5.5(?))/3 = 5.36 * 69 = 369.7

Cycle 2023-C89

Voting: Sep 6, 2023 - Sep 13, 2023

APR: Sep 13, 2023 - Sep 20, 2023

4.769mm / Current TVL FXS 75

( 4.769 * 2.233) / m vTVL = 99.892% = %vTVL%

(5.557+5.357+5.217)/3 = 5.38 * 75 = 403.28

Cycle 2023-C88

Voting: Aug 30, 2023 - Sep 6, 2023

APR: Sep 6, 2023 - Sep 13, 2023

4.769mm / Current TVL FXS 75

( 4.769 * 2.233) / m vTVL = 99.892% = %vTVL%

(5.705+5.557+5.357) / 3 = 5.54 * 75 = 414.48

Cycle 2023-C87

Voting: Aug 23, 2023 - Aug 30, 2023

APR: Aug 30, 2023 - Sep 6, 2023

4.769mm / Current TVL FXS 75

( 4.769 * 2.233) / m vTVL = 99.892% = %vTVL%

(6.038+5.705+5.557)/3 = 5.7667 * 75 = 432.50

Cycle 2023-C86

Voting: Aug 16, 2023 - Aug 23, 2023

APR: Aug 23, 2023 - Aug 30, 2023

4.769mm / Current TVL FXS 75

( 4.769 * 2.233) / m vTVL = 99.892% = %vTVL%

(6.297+6.038+5.705)/3 = 6.0133 * 75 = 451.0

Cycle 2023-C85

Voting: Aug 9, 2023 - Aug 16, 2023

APR: Aug 16, 2023 - Aug 23, 2023

4.769mm / Current TVL FXS 75

( 4.769 * 2.233) / m vTVL = 99.892% = %vTVL%

(6.144+6.297+6.038)/3 = 6.15967 * 75 = 461.98

Cycle 2023-C84

Voting: Aug 2, 2023 - Aug 9, 2023

APR: Aug 9, 2023 - Aug 16, 2023

4.769mm / Current TVL FXS 74

( 4.769 * 2.233) / m vTVL = 99.892% = %vTVL%

(5.977+6.144+6.297)/3 = 6.1393 * 74 = 454.31

Cycle 2023-C83

Voting: Jul 26, 2023 - Aug 2, 2023

APR: Aug 2, 2023 - Aug 9, 2023

4.769mm / Current TVL FXS 74

( 4.769 * 2.233) / m vTVL = 99.892% = %vTVL%

(5.894+5.977+6.144)/3 = 6.005 * 74 = 444.37

Cycle 2023-C82

Voting: Jul 19, 2023 - Jul 26, 2023

APR: Jul 26, 2023 - Aug 2, 2023

4.769mm / Current TVL FXS 75

( 4.769 * 2.233) / m vTVL = 99.892% = %vTVL%

(6.349+5.894+5.977)/3 = 6.0733 * 75 = 455.5

Cycle 2023-C81

Voting: Jul 12, 2023 - Jul 19, 2023

APR: Jul 19, 2023 - Jul 26, 2023

4.769mm / Current TVL FXS 74

( 4.769 * 2.233) / m vTVL = 99.892% = %vTVL%

(6.349+5.894+6.116)/3 = 6.188 * 74 = 457.91

Cycle 2023-C80

Voting: Jul 5, 2023 - Jul 12, 2023

APR: Jul 12, 2023 - Jul 19, 2023

4.769mm / Current TVL FXS 73

( 4.769 * 2.233) / m vTVL = 99.892% = %vTVL%

(6.554+6.349+5.894)/3 = 6.26567 * 73 = 457.39

Cycle 2023-C79

Voting: Jun 28, 2023 - Jul 5, 2023

APR: Jul 5, 2023 - Jul 12, 2023

4.769mm / Current TVL FXS 73

( 4.769 * 2.233) / m vTVL = 99.892% = %vTVL%

(5.525+6.554+6.349)/3 = 6.14267* 73 = 448.415

Cycle 2023-C78

Voting: Jun 21, 2023 - Jun 28, 2023

APR: Jun 28, 2023 - Jul 5, 2023

4.769mm / Current TVL FXS 72

(4.769* 2.233) / m vTVL = 99.892% = %vTVL%

(6.099+5.525+6.554)/3 = 6.05933 * 72 = 436.27

Cycle 2023-C77

Voting: Jun 14, 2023 - Jun 21, 2023

APR: Jun 21, 2023 - Jun 28, 2023

4.769mm / Current TVL FXS 80

( 4.769 * 2.233) / m vTVL = 99.892% = %vTVL%

(4.732+6.099+5.525)/3 = 5.452* 80 = 436.16

Cycle 2023-C76

Voting: Jun 7, 2023 - Jun 14, 2023

APR: Jun 14, 2023 - Jun 21, 2023

4.769mm / Current TVL FXS 80

( 4.769 * 2.233) / m vTVL = 99.892% = %vTVL%

(6.069+4.732+6.099)/3 = 5.633 * 80 = 281.65

Cycle 2023-C75

Voting: May 31, 2023 - Jun 7, 2023

APR: Jun 7, 2023 - Jun 14, 2023

4.769mm / Current TVL FXS 81

( 4.769 * 2.233) / m vTVL = 99.892% = %vTVL%

(6.751+6.069+4.732)/3 = 5.851* 81 = 473.93

Cycle 2023-C74

Voting: May 24, 2023 - May 31, 2023

APR: May 31, 2023 - Jun 7, 2023

4.769mm / Current TVL FXS 46

(4.769 * 2.233) / m vTVL = 99.892% = %vTVL%

(8.75+6.751+6.069)/3 = 7.19 * 46 = 330.74

Cycle 2023-C73

Voting: May 17, 2023 - May 24, 2023

APR: May 24, 2023 - May 31, 2023

4.769mm / Current TVL FXS 46

(4.769 * 2.233) / m vTVL = 99.892% = %vTVL%

(8.75+9.7+8.75)/3 = 9.0667 * 46 = 417.07

Cycle 2023-C72

Voting: May 10, 2023 - May 17, 2023

APR: May 17, 2023 - May 24, 2023

4.769mm / Current TVL FXS 46

(4.769* 2.233) / m vTVL = 99.892% = %vTVL%

(6.367+8.75+6.751)/3 = 7.2893 * 46 = 335.31

Cycle 2023-C71

Voting: May 3, 2023 - May 10, 2023

APR: May 10, 2023 - May 17, 2023

4.769mm / Current TVL FXS 47

( 4.769 * 2.233) / m vTVL = 99.892% = %vTVL%

(7.901+6.367+8.75)/3 = 7.67267 * 47 = 360.62

Cycle 2023-C70

Voting: Apr 26, 2023 - May 3, 2023

APR: May 3, 2023 - May 10, 2023

4.769mm / Current TVL FXS 47

(4.769 * 2.233) / m vTVL = 99.892% = %vTVL%

(8.401+7.901+6.367)/3 = 7.5563 * 47 = 355.15

Cycle 2023-C69

Voting: Apr 19, 2023 - Apr 26, 2023

APR: Apr 26, 2023 - May 3, 2023

4.769mm / Current TVL FXS 48

(4.769 * 2.233) / m vTVL = 99.892% = %vTVL%

(8.86+8.401+7.901)/3 = 8.3873 * 48 = 402.59

Cycle 2023-C68

Voting: APR 12, 2023 – Apr 19, 2023

APR: Apr 19, 2023 - Apr 26, 2023

4.769mm / Current TVL FXS 48

(4.769* 2.233) /m vTVL = 99.892% = %vTVL%

(8.837+8.86+8.401)/3 = 8.69933 * 48 = 417.57

Cycle 2023-C67

Voting: Apr 5, 2023 – Apr 12, 2023

APR: Apr 12, 2023 - Apr 19, 2023

4.769mm / Current TVL FXS 69

(4.769* 2.233) / m vTVL = 99.892% = %vTVL%

(9.530+8.837+8.86)/3 = 9.07567 * 69 = 626.22

Cycle 2023-C66

Voting: Mar 29, 2023 - Apr 5, 2023

APR: Apr 5, 2023 - Apr 12, 2023

4.769mm / Current TVL FXS 69

( 4.769 * 2.233) / m vTVL = 99.892% = %vTVL%

(8.676+9.530+8.837)/3 = 9.0143 * 69 = 621.99

Cycle 2023-C65

Voting: Mar 22, 2023 - Mar 29, 2023

APR: Mar 29, 2023 - Apr 5, 2023

4.769mm / Current TVL FXS 77

( 4.769 * 2.246) / vTVL = 99.893% = %vTVL%

(8.051+8.676+9.530)/3 = 8.7523 * 77 = $673.93

Cycle 2023-C64

Voting: Mar 15, 2023 - Mar 22, 2023

APR: Mar 22, 2023 - Mar 29, 2023

4.769m / Current TVL FXS 77

( 4.769 * 2.259) / m vTVL = 99.91% = %vTVL%

(8.21+8.03+8.75)/3 = 8.33 * 77 = $641.41

Cycle 2023-C63

Voting: Mar 8, 2023 - Mar 15, 2023

APR: Mar 15, 2023 - Mar 22, 2023

4.769m / Current TVL FXS 68

(4.769* 2.272) / m vTVL = 99.947% = %vTVL%

(8.95+8.21+8.03)/3 = 8.3967 * 68 = $570.98

Cycle 2023-C62

Voting: Mar 1, 2023 - Mar 8, 2023

APR: Mar 8, 2023 - Mar 15, 2023

4.769m / 4.82m TVL FXS 66

(4.769* 2.285) / 10.948m vTVL = 99.534% = %vTVL%

(11.96+8.95+8.21)/3 = 9.7067 * 66 = $640.64

%yTVL% * $640.64 = $637.66

Cycle 2023-C61

Voting: Feb 22, 2023 - Mar 1, 2023

APR: Mar 1, 2023 - Mar 8, 2023

4.769m / 4.82m TVL FXS 60

(4.769* 2.298) / 11.01m vTVL = 99.5368% = %vTVL%

(10.48+11.96+8.95)/3 = 10.463 * 60 = $627.78

%vTVL% * $627.78 = $624.872

Cycle 2023-C60

Voting: Feb 15, 2023 - Feb 22, 2023

APR: Feb 22, 2023 - Mar 1, 2023

4.769m / 4.82m TVL FXS 60

( 4.769 * 2.311) / 11.072m vTVL = 99.539% = %vTVL%

(11.44+10.48+11.96)/3 = 11.2933 * 60 = $677.598

%vTVL% * $677.598 = $674.477

Cycle 2023-C59

Voting: Feb 8, 2023 - Feb 15, 2023

APR: Feb 15, 2023 - Feb 22, 2023

4.769m / 4.817m TVL FXS 66

(4.769* 2.324) / 11.131m vTVL = 99.568% = %vTVL%

(12.29+11.44+10.48)/3 = 11.4033 * 66 = $752.62

%vTVL% * $752.62 = $749.37

Cycle 2023-C58

Voting: Feb 1, 2023 - Feb 8, 2023

APR: Feb 8, 2023 - Feb 15, 2023

4.769m / 8.036m TVL FXS 65

(4.769* 2.337) / 14.412m vTVL = 77.33% = %vTVL%

(10.81+12.29+11.44)/3 = 11.513 * 65 = $748.345

%vTVL% * $748.345 = $578.71

Cycle 2023-C57

Voting: Jan 25, 2023 - Feb 1, 2023

APR: Feb 1, 2023 - Feb 8, 2023

4.769m / 8.024m TVL FXS 67

(4.769* 2.35) / 14.462m vTVL = 77.493% = %vTVL%

(10.42+10.81+12.29)/3 = 11.173 * 67 = $748.591

%vTVL% * $748.591 = $580.11

Cycle 2023-C56

Voting: Jan 18, 2023 - Jan 25, 2023

APR: Jan 25, 2023 - Feb 1, 2023

4.769m / 8.043m TVL FXS 67

(4.769* 2.363) / 14.543m vTVL = 77.4877% = %vTVL%

(8.67+10.42+10.81)/3 = 9.967 * 67 = $667.789

%vTVL% * $667.789 = $517.45

Cycle 2023-C55

Voting: Jan 11, 2023 - Jan 18, 2023

APR: Jan 18, 2023 - Jan 25, 2023

4.769m / 8.054m TVL FXS 67

(4.769* 2.376) / 14.616m vTVL = 77.524% = %vTVL%

(5.60+8.67+10.42)/3 = 8.23 * 67 = $551.41

%vTVL% * $551.41 = $427.48

Cycle 2023-C54

Voting: Jan 4, 2023 - Jan 11, 2023

APR: Jan 11, 2023 - Jan 18, 2023

4.769m / 8.055m TVL FXS 66

( 4.769 * 2.389) / 14.679m vTVL = 77.614% = %vTVL%

(5.03+5.60+8.67)/3 = 6.433 * 66 = $424.578

%vTVL% * $424.578 = $329.534

Cycle 2023-C53

Voting: Dec 28, 2022 - Jan 4, 2023

APR: Jan 4, 2023 - Jan 11, 2023

4.769m / 8.044m TVL FXS 67

(4.769 * 2.402) / 14.73m vTVL = 77.76667% =%vTVL%

(4.3+5.03+5.60)/3 = 4.97667 * 67 = $333.43

%vTVL% * $333.43 = $259.3

Cycle 2022-C52

Voting: Dec 21, 2022 - Dec 28, 2022

APR: Dec 28, 2022 - Jan 4, 2023

4.769m / 8.321m TVL FXS 65

(4.769* 2.415) / 15.069m vTVL = 76.4286% = %vTVL%

(4.95+4.3+5.03)/3 = 4.76 * 65 = $309.4

%vTVL% * $309.4= $236.47

Cycle 2022-C51

Voting: Dec 14, 2022 - Dec 21, 2022

APR: Dec 21, 2022 - Dec 28, 2022

4.769m / 8.377m TVL FXS 61

(4.769* 2.428) / 15.187m vTVL = 76.243% = %vTVL

(5.45+4.95+4.3)/3 = $4.9 * 61 = $298.9

%vTVL% * $298.9 = $227.89

Cycle 2022-C50

Voting: Dec 7, 2022 - Dec 14, 2022

APR: Dec 14, 2022 - Dec 21, 2022

4.769m / 8.389m TVL FXS 134

(4.769 * 2.441) /15.261m vTVL = 76.2796% = %vTVL%

(5.74+5.45+4.95)/3 = 5.38 * 134 = $720.92

%vTVL% * $720.92 = $549.92

Cycle 2022-C49

Voting: Nov 30, 2022 - Dec 7, 2022

APR: Dec 7, 2022 - Dec 14, 2022

4.769m / 8.41m TVL FXS 214

( 4.769 * 2.454) / 15.344m vTVL = 76.271% = %vTVL%
(4.94+5.74+5.45)/3 = 5.37667 * 214 = $1,150.61

%vTVL% * $1,150.61 = $877.58

Cycle 2022-C48

Voting: Nov 23, 2022 - Nov 30, 2022

APR: Nov 30, 2022 - Dec 7, 2022

4.769m / 9.28m TVL FXS 255

( 4.769 * 2.467) / 16.276m vTVL = 72.285% = %vTVL%

(4.47+4.94+5.74)/3 = 5.05 * 255 = $1,287.75

%vTVL% * $1,287.75 = $930.84

Cycle 2022-C47

Voting: Nov 16, 2022 - Nov 23, 2022

APR: Nov 23, 2022 - Nov 30, 2022

4.769m / 9.28m TVL FXS 186

(4.769 * 2.48) / 16.338m vTVL = 72.3897% = %vTVL%

(4.6+4.47+4.94)/3 = 4.67 * 186 = 868.62

%vTVL% * $868.62 = $628.792

Cycle 2022-C46

Voting: Nov 9, 2022 - Nov 16, 2022

APR: Nov 16, 2022 - Nov 23, 2022

4.769m / 9.72m TVL FXS 177

(4.769 * 2.493) / 16.84m vTVL = 70.6% = %vTVL%

(5.26+4.60+4.47)/3 = 4.7767 * 177 = $845.48

%vTVL% * $845.48 = $596.91

Cycle 2022-C45

Voting: Nov 2, 2022 - Nov 9, 2022

APR: Nov 9, 2022 - Nov 16, 2022

4.769m / 9.476m TVL FXS 115

(4.769 * 2.506) / 16.658m vTVL = 71.7435% = %vTVL%

(6.35+5.26+4.60)/3 = 5.403 * 115 = $621.345

%vTVL% * $621.345 = $445.78

Cycle 2022-C44

Voting: Oct 26, 2022 - Nov 2, 2022

APR: Nov 2, 2022 - Nov 9, 2022

4.769m / 9.546m TVL FXS 123

(4.769 * 2.519) / 16.79m vTVL = 71.5487% = %vTVL%

(6.11+6.35+5.26)/3 = 5.90667 * 123 = $726.52

%vTVL% * $726.52 = $519.82

Cycle 2022-C43

Voting: Oct 19, 2022 - Oct 26, 2022

APR: Oct 26, 2022 - Nov 2, 2022

4.769m / 9.657m TVL FXS 152

(4.769 * 2.532) / 16.963m vTVL = 71.1845% = %vTVL%

(6.11+6.11+6.35)/3 = 6.19 * 152 = $940.88

%vTVL% * $940.88 = $669.76

Cycle 2022-C42

Voting: Oct 12, 2022 - Oct 19, 2022

APR: Oct 19, 2022 - Oct 26, 2022

4.769m / 9.638m TVL FXS 145

(4.769 * 2.545) / 17.006 m vTVL = 71.369% = %vTVL%

(4.81+6.11+6.11)/3 = 5.6767 * 145 = $823.1215

%vTVL% * $823.1215 = $587.454

Cycle 2022-C41

Voting: Oct 5, 2022 - Oct 12, 2022

APR: Oct 12, 2022 - Oct 19, 2022

4.769m / 10.047m TVL FXS 247

(4.769 * 2.558) / 17.477m vTVL = 69.8% = %vTVL%

(4.73+4.81+6.11)/3 = 5.21667 * 247 = $1,288.52

%vTVL% * $1,288.52 = $899.39

Cycle 2022-C40

Voting: Sep 28, 2022 - Oct 5, 2022

APR: Oct 5, 2022 - Oct 12, 2022

4.769m / 11.271m TVL FXS 243

(4.769 * 2.571) / 18.763m vTVL = 65.347% = %vTVL%

(4.11+4.73+4.81)/3 = 4.55 * 243 = $1,105.65
%vTVL% * $1,105.65 = $722.51

Cycle 2022-C39

Voting: Sep 21, 2022 - Sep 28, 2022

APR: Sep 28, 2022 - Oct 5, 2022

4.769m / 11.55m TVL FXS 237

(4.769 * 2.584) / 19.104m v TVL = 64.505% = %vTVL%

(4.45+4.11+4.73)/3 = 4.43 * 237 = $1,049.91

%vTVL% * $1,049.91= $677.24

Cycle 2022-C38

Voting: Sep 14, 2022 - Sep 21, 2022

APR: Sep 21, 2022 - Sep 28, 2022

4.769m / 11.757m TVL FXS 236

(4.769 * 2.597) / 19.373m vTVL = 63.93% = %vTVL%

(5.57+4.45+4.11)/3 = 4.71 * 236 = $1,111.56

%vTVL% * $1,111.56 = $710.61

Cycle 2022-C37

Voting: Sep 7, 2022 - Sep 14, 2022

APR: Sep 14, 2022 - Sep 21, 2022

4.769m / 12.203m TVL FXS 152

(4.769 * 2.61) / 19.8811m vTVL = 62.6077% = %vTVL%

(6.21+5.57+4.45)/3 = 5.41 * 152 = $822.32

%vTVL% * $822.32 = $514.84

Cycle 2022-C36

Voting: Aug 31, 2022 - Sep 7, 2022

APR: Sep 7, 2022 - Sep 14, 2022

4.769m / 12.606m TVL FXS 167

(4.769* 2.623) / 20.346m vTVL = 61.4818% = %vTVL%

(5.75+6.21+5.57)/3 = 5.843 * 167 = $975.781

%vTVL% * $975.781 = $599.93

Cycle 2022-C35

Voting: Aug 24, 2022 - Aug 31, 2022

APR: Aug 31, 2022 - Sep 7, 2022

4.769m / 12.538m TVL FXS 317

(4.769 * 2.636) / 20.34m vTVL = 61.804% = %vTVL%

(6.28+5.75+6.21)/3 = 6.08 * 317 = $1,927.36

%vTVL% * $1,927.36 = $1,191.185

Cycle 2022-C34

Voting: Aug 17, 2022 - Aug 24, 2022

APR: Aug 24, 2022 - Aug 31, 2022

4.769m / 14.07m TVL FXS 360

(4.769 * 2.649) / 21.934m vTVL = 57.596% = %vTVL%

(5.88+6.28+5.75)/3 = 5.97 * 360 = $2,149.2

%vTVL% * $2,149.2 = $1237.85

Cycle 2022-C33

Voting: Aug 10, 2022 - Aug 17, 2022

APR: Aug 17, 2022 - Aug 24, 2022

4.769m / 14.036m TVL FXS 379

(4.769 * 2.662) / 21.962m TVL = 57.8045%% = %vTVL%

(7.01+5.88+6.28)/3 = 6.39 * 379 = $2,421.81

%vTVL% * $2,421.81 = $1,399.92

Cycle 2022-C32

Voting: Aug 3, 2022 - Aug 10, 2022

APR: Aug 10, 2022 - Aug 17, 2022

4.769m / 14.21m TVL FXS 383

(4.769 * 2.675) / 22.198m TVL = 57.469% = %vTVL%

(7.34+7.01+5.88)/3 = 6.743 * 383 = $2,582.57

%vTVL% * $2,582.57 = $1,484.18

Cycle 2022-C31

Voting: Jul 27, 2022 - Aug 3, 2022

APR: Aug 3, 2022 - Aug 10, 2022

4.769m / 14.619m TVL FXS 302

(4.769 * 2.688) / 22.669m vTVL = 56.549% = %vTVL%

(6.28+7.34+7.01)/3 = 6.8767 * 302 = $2,076.76

%vTVL% * $2076.76 = $1,174.38

Cycle 2022-C30

Voting: Jul 20, 2022 - Jul 27, 2022

APR: Jul 27, 2022 - Aug 3, 2022

4.769m / 14.87m TVL FXS 270

(4.769 * 2.701) / 22.982m vTVL = 56.048% = %vTVL%

(6.63+6.28+7.34)/3 = 6.75 * 270 = $1,822.5

%vTVL% * $1,822.5= $1,021.48

Cycle 2022-C29

Voting: Jul 13, 2022 - Jul 20, 2022

APR: Jul 20, 2022 - Jul 27, 2022

4.769m / 14.911m TVL FXS 186

(4.769 *2.714) / 23.085m vTVL = 56.067% = %vTVL%

(4.84+6.63+6.28)/3 = $5.9167 * 196 = $1,100.51

%vTVL% * $1,100.51 = $617.021

Cycle 2022-C28

Voting: Jul 6, 2022 - Jul 13, 2022

APR: Jul 13, 2022 - Jul 20, 2022

4.769m / 15.319m TVL FXS 191

(4.769 * 2.727) / 23.555m vTVL = 55.211% = %vTVL%

(5.32+4.84+6.63)/3 = $5.5967 * 191 = $1,068.97

%vTVL% * $1,068.97 = $590.19

Cycle 2022-C27

Voting: Jun 29, 2022 - Jul 6, 2022

APR: Jul 6, 2022 - Jul 13, 2022

4.769m / 15.865m TVL FXS 208

(4.769 * 2.74) / 24.163m TVL = 54.079% = %vTVL%

(4.7+5.32+4.84)/3 = $4.9533 * 208 = $1,030.29

%vTVL% * 1,030.29= $557.17

Cycle 2022-C26

Voting: Jun 22, 2022 - Jun 29, 2022

APR: Jun 29, 2022 - Jul 6, 2022

4.769m / 19.73m TVL FXS 227

(4.769 * 2.753) / 12.025m TVL = 46.739% = %vTVL%

(5.13+4.7+5.32)/3 = $5.05 * 227 = $1,146.35

%vTVL% * $1,146.35 = $535.79

Cycle 2022-C25

Voting: Jun 15, 2022 - Jun 22, 2022

APR: Jun 22, 2022 - Jun 29, 2022

4.769m / 24.24m TVL FXS 226

(4.769 * 2.753) / 32.6m TVL = 40.273% = %vTVL%

(4.54+5.13+4.7)/3 = $4.79 * 226 = $1,082.54

%vTVL% * $1,082.54= $435.97

Cycle 2022-C24

Voting: Jun 8, 2022 - Jun 15, 2022

APR: Jun 15, 2022 - Jun 22, 2022

4.769m / 24.521m TVL FXS 233

(4.769 * 2.766) / 32.9431m vTVL = 40.042% = %vTVL%

(5.72+4.54+5.13)/3 = 5.13 * 233 = $1,195.29

%vTVL% * $1,195.29 = $478.62

Cycle 2022-C23

Voting: Jun 1, 2022 - Jun 8, 2022

APR: Jun 8, 2022 - Jun 15, 2022

4.769m / 26.199m TVL FXS 788

(4.769 * 2.779) / 34.683m TVL = 38.212% = %vTVL%

(6.64+5.72+4.54)/3 = $5.63 * 788 = $4,436.44

%vTVL% * $4,436.44 = $1,695.25

Cycle 2022-C22

Voting: May 25, 2022 - Jun 1, 2022

APR: Jun 1, 2022 - Jun 8, 2022

4.769m / 35.054m TVL FXS 904

(4.769 * 2.779) / 43.538m TVL = 30.4401% = %vTVL%

(7.33+6.64+5.72)/3 = $6.5633 * 904 = $5,933.223

%vTVL * $5,933.223= $1,806.082

Cycle 2022-C21

Voting: May 18, 2022 - May 25, 2022

APR: May 25, 2022 - Jun 1, 2022

4.769m / 36.273m TVL FXS 1243

(4.769 * 2.792) / 44.819m vTVL = 29.7085% = %vTVL%

(7.04+7.33+6.64)/3 = 7.0033 * 1243= $8,705.102

%vTVL% * $8,705.102 = $2,586.16

Cycle 2022-C20

Voting: May 11, 2022 - May 18, 2022

APR: May 18, 2022 - May 25, 2022

4.769m / 43.398m TVL FXS 1140

(4.769 * 2.805) / 52.006m vTVL = 25.7221% = %vTVL%

(11.76+7.04+7.33)/3 = $8.71 * 1140 = $9,929.4

%vTVL% * $9,929.4 = $2,554.05

Cycle 2022-C19

Voting: May 4, 2022 - May 11, 2022

APR: May 11, 2022 - May 18, 2022

4.769m / 45.621m TVL FXS 2075

(4.769 * 2.818) / 54.291m vTVL = 24.754% = %vTVL%

(29.07+11.76+7.04)/3 = $15.95667 * 2075 = $33,110.09

%vTVL% * $33,110.09= $8,196.072
Cycle 2022-C18

Voting: Apr 27, 2022 - May 4, 2022

APR: May 4, 2022 - May 11, 2022

4.769m / 45.406m TVL FXS 2238

(4.769 * 2.831) / 54.138m vTVL = 24.938% = %vTVL%

(27.54+29.07+11.76)/3 = 22.79 * 2238 = $51,004

%vTVL% * $51,004= $12,719.38

Cycle 2022-C17

Voting: Apr 20, 2022 - Apr 27, 2022

APR: Apr 27, 2022 - May 4, 2022

4.769m / 47.476m TVL FXS 1895

(4.769 * 2.844) / 56.27m vTVL = 24.103% = %vTVL%

(36.13+27.54+29.07)/3 = $30.9133 * 1895 = $58,580.7

%vTVL% * 58,580.7 = $14,119.71

Cycle 2022-C16

Voting: Apr 13, 2022 - Apr 20, 2022

APR: Apr 20, 2022 - Apr 27, 2022

4.769m / 50.522m TVL FXS 2067

(4.769 * 2.857) / 59.378m vTVL = 22.946% = %vTVL%

(33.28+36.13+27.54)/3 = $32.31667 * 2067 = $66,798.57

%vTVL% * $66,798.57 = $15,327.6

Cycle 2022-C15

Voting: Apr 6, 2022 - Apr 13, 2022

APR: Apr 13, 2022 - Apr 20, 2022

4.769m / 48.529m TVL FXS 2310

(4.769 * 2.87) / 57.447m vTVL = 23.825%= %vTVL%

(30.71+33.28+36.13)/3 = $33.373 * 2310 = $77,091.63

%vTVL% * $77,091.63 = $18,367.08

Cycle 2022-C14

Voting: Mar 30, 2022 - Apr 6, 2022

APR: Apr 6, 2022 - Apr 13, 2022

4.769m / 48.483mTVL FXS 2,286

(4.769 * 2.883) / 57.463m vTVL = 23.927% = %vTVL%

(22.79+30.71+33.28)/3 = 28.92667 * 2286 = $66,126.37

%vTVL% * $66,126.37 =$15,822.05 $15,822.056

Cycle 2022-C13

Voting: Mar 23, 2022 - Mar 30, 2022

APR: Mar 30, 2022 - Apr 6, 2022

4.769m / 48.759mTVL FXS 2,571

(4.769 * 2.896) / 57.801m vTVL = 23.894% = %vTVL%

(17.83+22.79+30.71)/3 = 23.777 * 2571 = $61,130.67

%vTVL% * 61130.67 = $14,606.56

Cycle 2022-C12

Voting: Mar 16, 2022 - Mar 23, 2022

APR: Mar 23, 2022 - Mar 30, 2022

4.769m / 50.822m TVL FXS 2,687

(4.769*2.909) / 59.926m = 23.15% = %vTVL%

(17.87+17.83+22.79)/3 = $19.497 * 2687 = $52,388.44

%vTVL% * 52388.44 = $12,127.92

Cycle 2022-C11

Voting: Mar 9, 2022 - Mar 16, 2022

APR: Mar 16, 2022 - Mar 23, 2022

4.769m / 57.199m TVL FXS 2,054

(4.769 * 2.922) / 66.365m vTVL = 21% = %vTVL%

(17.92+17.87+17.83)/3 = $17.873 * 2054 = $36,711.14

%vTVL% * 36711.14 = $7,709.34
Cycle 2022-C10

Voting: Mar 2, 2022 - Mar 9, 2022

APR: Mar 9, 2022 - Mar 16, 2022

4.769m / 58.498m TVL=13.721% FXS 2,327

(4.769 * 2.935) / 67.726m = 20.67% = %vTVL%

(26.51+17.92+17.87)/3 = $20.767 * 2327 = $48,324.81

%vTVL% * $48,324.81= $9,987.345

Cycle 2022-C09

Voting: Feb 23, 2022 - Mar 2, 2022

APR: Mar 2, 2022 - Mar 9, 2022

4.769m / 61.626m TVL FXS 2,601

(4.769 * 2.948) / 70.916m = 19.825% = %vTVL%

(18.09+23.51+17.92)/3 = 19.84 * 2601 = $51,603.84

%vTVL% * 51,603.84 = $10,230.46

Cycle 2022-C08

Voting: Feb 16, 2022 - Feb 23, 2022

APR: Feb 23, 2022 - Mar 2, 2022

4.769m / 64.723m TVL FXS 2,827

(4.769 * 2.961) / 74.075m = 19.063% = $48324.81

(26.73+18.09+23.51)/3 = 22.7767 * 2,827 = $64,389.73

%vTVL% * $64,389.73= $12,274.61

Cycle 2022-C07

Voting: Feb 9, 2022 - Feb 16, 2022

APR: Feb 16, 2022 - Feb 23, 2022

4.769m / 64.116m TVL FXS 3,936

(4.769 * 2.974) / 73.53m = 19.289% = %vTVL%

(21.6+26.73+18.09)/3 = 22.14 * 3936 = $87,143.04

%vTVL% * 87143.04 = $16,809.02

Cycle 2022-C06

Voting: Feb 2, 2022 - Feb 9, 2022

APR: Feb 9, 2022 - Feb 16, 2022

4.769m / 60.964m TVL FXS 4 ,538

(4.769 * 2.987) / 70.44 = 20.22% = %vTVL%

(20.56+21.6+26.73)/3 = 22.963 * 973 = $104,206.094

%vTVL% * 104,206 = $21,070.64

Cycle 2022-C05

Voting: Jan 26, 2022 - Feb 2, 2022

APR: Feb 2, 2022 - Feb 9, 2022

4.769m / 68.276m TVL FXS 8,127

(4.769 * 3) / 77.814m = 18.386% = %vTVL%

(18.82+20.56+21.6)/3 = 20.32666 * 8127= $165,194.77
%vTVL% * 165,194.77=$30,372.71

1 Like
2

Congrats for the huge work! It’s a go for me.

1 Like
3

Thank you for your support good sir.

It is indeed a LOT of work. Id forgotten just how much work it was.

Nevertheless, ive received several requests to propose tbis pool over the last few months, and here it is, ready to rock and roll.

Im happy with it.

2 Likes
4

I would like to add to the above proposal the following statement

Stakedao originally stated they would always incentivize that pool with their voting power. Like the Frax Put Pool, due to the development of liquid lockers, they now no longer do so, but it is still a change to one of the original and main locking premises for LPs in this pool.

The frax docs once stated that any significant changes to a pool would be grounds for an unlock. I realize frax did not make these changes so that clause does not apply, but nevertheless, changes to the pool did take place in the fact that it is no longer incentivized by the protocol who launched it with the promise to incentivize the pool in perpetuity.

As stated previously, the calculation I use assumes that only the “proposed to be unlocked LP” boosted their locks, which we can see is not the case in the charts, and thereby favors the protocol in terms of value received.

Furthermore, there is a big push, as you know, to increase the CR of frax to 100%, so in my opinion anything that increases POL to that end should be considered.

This would benefit that push.

Finally, trading volume in the pool is almost non existent. In my eyes, unlocking it for POL is much more beneficial to Frax than keeping it in a comparitively miniscule and very low activity pool.

An unlock would mean:

Added POL for CR 100% goal from unlock tax

As well as a likely redeployment by lockers into BasePool which has over 50x more trading volume and is of greater benefit to the stable asset FRAX than 3crv liquidity.

For comparison. Trading volume of basepool on curve in the last 24hrs was over 1mil, trading volume of frax3crv was $17,000

Finally, Frax has been actively moving to BASEPOOL backing, and if im not mistaken owns zero 3crv assets at this time, an unlock of this pool would in turn give LPs the ability to make that move as well, to the benefit of both parties.

2 Likes
5

I noticed an error in my work above. While it does not affect the #s at all, for clarities sake I wanted to point it out.

Starting @ Cycle 63 I should have erased the vTVL calculation line; from C63 onward 100% (of emissions) was used.

Sorry for the confusion_

6

You are the MVP of the unlocking proposals ser. I have nothing but respect for your work. I wanted to make sure to include my own views here before this goes to a vote:

At the current time, I’m opposed to unlocking this pair for the reason that the protocol needs the locked liquidity to remain highly stable and at peg before we can reach 100% CR. As everyone can see on the balance sheet FRAX is currently “overcollateralized” if you consider all the locked assets since the FRAX in those pools cannot be redeemed. However, as a thought experiment, let’s say that we unlock all locked liquidity in every pool at this very moment and even apply a generous 20% fee for the protocol to capture value. I’m pretty sure the FRAX peg would break after a few days because the stablecoin itself would be undercollateralized with a very low FXS price (bear market conditions). The 20% fee is not enough to reach 100% CR at the current time in these market conditions. We all have been through a full cycle of the market and know how those things end when there’s no locked liquidity and not enough backing (it ends like Terra).

I also want to bring up something so other’s don’t misunderstand: unlocking pools are always a community vote basis. There is no “right” or “obligation” to unlock a pool based on either a flat fee or the refund of the reward rate earned. These were my own and the community’s suggestion when the protocol itself was healthier on its way to a 100% CR and the market outlook was a bit better overall. But these suggestions that have approved the unlocking of multiple liquidity pools aren’t a hard rule or some kind of expected outcome in all market conditions obviously. Everything is a case-by-case basis based on governance voting. In fact, I think the most important thing at current market conditions and current FXS/ETH/BTC prices is to keep all the locked liquidity for now until things improve a bit or if we are much closer to our full 100% CR goal.

To be clear, I’m not against unlocking this pool (or even all pools) in the future if the outlook and CR continue to climb toward 100% and things are bullish. FRAX v3 will likely help with that a lot and maybe that means all pools can get unlocked in a couple months. But as it currently stands, when FXS was $10+ and now it is mid $5, it is objectively a worse time in the macro economy for FRAX and unlocking pools (even with hefty fees) are not in the interest of the protocol at this time (in my personal opinion).

Anyway, this proposal will go toward a formal vote regardless of what I think (unless the author wants to postpone/update/delay it), but I wanted to make sure my own opinion is stated on the record before the formal vote :slight_smile:

7

To be clear,

You’re saying youre opposed to all unlocks in general at present time because of current market conditions?

This pool represents roughly 0.6% of FRAX total assets, and is composed of an LP asset (frax3crv) that even the protocol itself no longer holds.

I previously (unofficially) advocated for a mass migration from frax3crv to FraxBP, but the response was essentially due to the nascent nature of the FraxBP , we wanted to remain in frax3crv for a time for safety’s sake.

That time has long since passed.

The LP locked in this pool, receiving only ~2% of the market volume FraxBP sees, represents nearly 50% of the only remaining market liquidity in this LP because the entire market has moved away from it largely in favor of FraxBP,

And, I think some consideration should be given to the fact that the protocol itself no longer holds this asset

I hear you in regard to market conditions, but the protocol is far from in jeopardy and this LP is hardly enough weight to raise alarms

8

That’s correct, at this current time of writing I am against it. That doesn’t mean in 4 weeks or in 2 months etc I will be against it. Again, this is just my opinion. I understand my view has some sway but it is not some kind of veto.

I think this might be a bit reversed. Part of the reason the protocol itself doesn’t hold at least some minimal amount of this asset is because of the useful locked liquidity that provides routing through to DAI and USDT that would require an extra hop if it wasn’t there meaning that the protocol’s AMOs would likely need to hold something around a couple mill if it was not for this pool. So not providing liquidity in that pool is not an indicator that the pool is unsafe or a judgment on its stability, in fact, it’s one of the safest pools being paired with the top 3 stablecoins in the industry.

With all this said, I’m personally trying to do everything I can to get the protocol to a point that the community can vote+propose the unlocking of all major pools if desired. Just right now I don’t feel like we are there yet. Who knows, maybe Convex and other community members might feel differently. Hopefully soon though (as in a matter of weeks if overall macro improves).

9

@admins

Please postpone this proposal from going live,

I will bring this back to the table at a later date.

3 Likes
10

@admins

With CR100% fast approaching, I would like to re-initiare this proposal.

I suspect I will receive more pushback when we hit CR100% “because it might take us under CR100%” than I will while we are evermore quickly approaching it.

Currently, unlocking this pool (without accounting for the unlock fee to the protocol) will only drop CR% by ~0.6%

Though my math tables are ~5 months behind, the FXS rewarded to the pool in that time frame is negligible and more than covered by the additional 1.9% “dev time” fee accounted for in my original figures.

Thank you for your time,
Lukas

11

This proposal is up for voting here: Snapshot