In the second part of phase 1 of the @astroport_fi lockdrop users could only withdraw the LP tokens they had deposited.
And guess what. They have. The question is:
How many?
From which pools?
From which lockup periods?
Let's see 🧵👇
We counted 555 unique addresses taking advantage of this withdrawing part of phase 1.
What pools have users withdrawn from?
bLuna-Luna is by far the pool from which the most funds have been withdrawn: $5.5m UST and over 250 users withdrawing
This was however also the pool with most tokens locked to start with.
- ANC/LUNA-UST have interestingly similar number of unique addresses and amount withdrawn
From which lockup periods?
bLuna-Luna: the vast majority of tokens has been withdrawn from the 2 weeks lockup period. Probably this option was not providing many rewards in $ASTRO tokens, given the large liquidity locked in this pool for longer time.
Luna-UST: the situation is different here. The large share of tokens has been withdrawn from the 50 weeks. This pair presents impermanent loss, and some users may have preferred not to be exposed for such a long time.
What percentage has each user withdrawn?
For the 555 withdrawing users, we are now interested in seeing what percentage, out of the previously deposited tokens, has each users requested to unlock.
- We can see that the most requested lockup periods are 2 and 52 weeks (Y-axis)
- 50% represents a significant value. It is the most popular withdrawn share and almost no users have withdrawn more than this (only 1 at 100%)
As always, I leave you the link to the article where you can explore the visualizations for yourself. And maybe find something out that I have missed!
The recent days have seen some volatility in the bLuna-Luna pair.
This presents some arbitrage opportunities.
How often do these occur?
When should you take advantage of them?
When should you not?
This is what we are going to explore in this 🧵
What is arbitrage?
Arbitrage, in the case of AMM and Liquidity Pools, can occur when the unbalance in the pool allows one token to be traded cheaper than it should. In that case arbitrageurs can take advantage of this unbalance and restore balance while making a profit
What is bLuna?
Anchor protocol allows users to deposit (bond) their Luna — gets staked — and obtain a liquid token: bLuna. This bLuna gives right to the staking yields of the underlying Luna and can be unbonded back to Luna via Anchor. The unbonding period usually takes 21 days
I think it is time to make a retrospective analysis of how it went. Ready?
Let me show you 🧵👇
N° users: 7215
When was their first interaction?
- Almost 300 users have bid right at the start, at an average price of $0.96
- The second wave happened after 9 hours. This was triggered by the price dropping below $0.20 and the buying pressure raised the average price to $0.32
What about the n° of tx over time?
- Peak/hr: ~1100
- Compared to the chart of new users, we can see a couple of more spikes, such as around 8:00 of the 14/12. This is a spike matches with the time when the price fell below $0.14
bLuna-Luna: 2 weeks is where the most of LP tokens are locked, however 52 weeks is in the 2nd place with 250k tokens
When looking at distinct addresses: 52 weeks is by far the preferred one. This means more users have preferred the 52 weeks, but those that chose the 2 weeks period-even if fewer-have deposited more. Makes sense, as it is less binding to lock for only 2 weeks.
Problem: locking $UST in Pylon pools is a big commitment given the relatively long timeframes. We are talking about - what it feels like - ages in the crypto space.
Right now users have no way to sell or trade their position in the pool, in case they need to. Once you are in, you are in. You just gotta wait until your lock up period is over.
Solution: allow these positions to be tradable. As what happens with LPs, users would obtain a token as a receipt for their deposit into the pool. This receipt can either be used to claim the pool's tokens or sold on the market. And we are free again to get our money back!
So TFL is burning 88 millions of $Luna to $UST to fund different initiatives, most notably Ozone.
Well, you think that is running smoothly?
I thought so too 🧵
And it actually did. Like a swiss clock, every 800th block the community address (terra10kjnhhsgm4jfakr85673and3aw2y4a03598e0m) has been burning 520,000 $Luna for $UST.
Until this happened:
On November 16th, the address
terra1z8wl9y9lztd047cyhwdfwgsz853ywamg34pys8 has started tipping 0.01 $UST the community address.