flipside

    Try Quests to earn cryptoTry Quests to earn crypto
    Share

    Osmo-9.wETH & wBTC On- and Off- Ramps

    Q9. On the Osmosis Frontier, there are pools for wETH and wBTC. How do users respond and change their position in these pools in response to governance proposals involving extra incentives for these pools? Do their deposits and withdrawals of wBTC and wETH onto Osmosis change as well?

    Methodology

    • Join osmosis.core.fact_liquidity_provider_actions with osmosis.core.dim_labels on a.currency = l.address
    • Filter on labels 'Wrapped Ether' and 'Wrapped Bitcoin'
    • pool_exited means withdrawal and pool_entered means deposit.
      • We look at only Pool Ids 704 and 712.

    Proposals

    • WBTC Incentivised pool with Minimum Incentives of 5% - 2022-05-21
      • This is an incentive change proposal to include OSMO/WBTC (#712) into the set of assets that receive OSMO liquidity incentives and allocate 5% of incentives to the pool after next epoch.
      • https://www.mintscan.io/osmosis/proposals/229
    • Enable Superfluid Staking on OSMO/WBTC - 2022-05-31
      • This proposal would enable Superfluid Staking in the OSMO/WBTC pool (#712). This pool is currently the twelfth largest OSMO pool on Osmosis by Total Value Locked containing around 1.07% of all OSMO liquidity.
      • https://www.mintscan.io/osmosis/proposals/230
    • Reallocate Incentives Removed From Terra Pools To Community Pool - 2022-05-21
      • This proposal suggests temporarily directing the majority of the incentives removed from Terra pools in proposal 227 to the Osmosis Community Pool. Note that this does not include the initial batch of incentives shifted from Terra pools towards ETH, USDC, and DAI pools in proposal 225 but rather the remaining Terra pool incentives described in proposal 227.
      • https://www.mintscan.io/osmosis/proposals/239
    Loading...
    Loading...
    Loading...
    Loading...

    How do users respond and change their position in these pools in response to governance proposals involving extra incentives for these pools?

    • The proposals listed above are mostly around 21-30May, that is when majority of the WBTC and WETH proposals are passed.
    • Looking at the data on the amount for WBTC and WETH
      • There are spikes for amount deposited on May 25-26, right during the proposals voting.
      • People seem to have exited more from May 28-30 and for WETH on May 30-31.

    Wallet Actions Number of Transactions

    • If we look at the number of transactions as wallet actions, there is no specific bump or spike in the number of people exiting or entering the pool on these dates specifically.
    • We actually see that the number of transactions spiked a couple of days before the incentives closed.
    db_img