One thing might be that if BALN moves out of the BALN/bnUSD and BALN/sICX pools at great volumes, then the rewards for those pools will increase. Potentially attracting new users and increasing demand on BALN.
I love this. It gives staked BALN much more purpose.
Sounds like a great idea! Also, removing code complexity is good for security as well and reduces the potential for an exploit to occur.
you got my vote, please proceed asap.
Does this mean we don’t need to have a vote, and wait the time, as it is part of the agreed upon bBALN change?
Will there be an announcement of when the change will take effect?
Yep that’s what I’m saying and the change would occur as part of the continuous rewards upgrade coming early November.
Excellent proposal! I vote for YES!
Humm. All my Balanced Token are in LP. This is going to be problematic for us to take out the LP with heavy losses from the implement loss.
I think it’s a no brainer. Why deploy resources to build something that will be thrown out 1 month later. Let’s focus on building for the future.
When bBALN gets implemented fees and voting gets switched anyway. So the change would be only about a month away ~ though in-line with speculated implementation.
Though, what I think benefits liquidity providers the most is that this part of the change happens before the boosted pool rewards, giving you some time to adjust.
If this change waits for bBALN, then along with removing network fees and voting weight liquidity providers, Pool rewards drop to .4 unless boosted by bBALN. Which could feel really shocking.
Also, we may see BALN price and LP rewards rise as people stake their BALN, helping liquidity providers make up some of that IL.
Another thing to think about:
If you are in the BALN/bnUsD LP, then it is like you’ve DCAed into BALN as the price was going down.
I always think as using the BALN/bnUSD LP is a DCA way to hold BALN. I also Ape in more LP when i drop harder. Without bBALN, there seems to be no reason for us me to withdraw the current LP, fee is lower then the APY in LP.
Sounds good to me. Let’s proceed with this asap.
Totally agree, sounds perfectly fine for me.
Sounds like the consensus is lets do this!! When can we make it happen?
Thank you all for the feedback, much appreciated. I agree @DenysBALNBARON, the work is in process and will likely be done by the next upgrade around November 8th. There are several new features launching from previous BIPs so the releases will be a bit staggered to ensure stability after each one.
What are some of the impacts?
- Baln LPs likely are abandoned in mass, increasing the rewards in them?
- Baln staker’s now get 100% of the fees (aren’t they supposed to be in only baln, sicx, and bnusd now?).
So its the same total amount of tokens, just redistributed, with a weight on lockup time like Hex?
It will be interesting to see what happens.
The fee payouts will probably be changing around that time as well (From what Benny said (below))
Just to clarify the discussion, this is going to happen regardless based on BIP4. The discussion on this thread specifically is forming community consensus around moving forward with this aspect of the change before introduction of bBALN in order to streamline these upgrades and not duplicate unnecessary work.
Also, fwiw the new token econ will be most similar to CRV, but I did research HEX as well and there is somewhat of an overlap.