13 Days of Eating Sorbetto Fragola
It has now been 13 days since we have been slurping the fees of UniV3. Let’s take a look at the past days, and also discuss what’s to come!
Some Stats:
- TVL: $33M
- Actively LPing: 14 Pools
- Total Fees Earned: $1,164,789
- Fees distributed to nICE stakers: $227,000
- Total nICE being Staked: 8,495,499.69
Based on the stats, I think we can say that we have had a successful first few days, a protocol making this amount of fees for nICE holders in such a short period of time is something that I don’t think the community expected.
Of course like every launch small improvements do exist, such as with displaying the “fees generated” for the users. Currently if you LP you do not see the individual fees that you are earning. Besides the fact that this is being worked on, I quickly wanted to explain why it’s not as easy as people think to provide this information.
The way Popsicle LPs work, is that there is one pool, users own a piece of this pool, users deposit into the pool at different times and at different asset prices. Meaning that calculating the fees is not only based on how much of pool share you own, but it also matters at what price you specifically joined. As mentioned this is being worked on, and we should be pushing the fix as well as a few other refactorings like the APR on nICE next week.
So now what, whats the team building and working on currently?
Considering that Multichain is really taking off, we have thought about how to capitalise on it prior to the process of auditing of Limone. With this we would like to mention that we have put up a governance proposal on Abracadabra.money to do a profit sharing where Popsicle Finance will use Abracadabra Leveraging to allow for Leveraged LPs on all chains for our partner DEXs. We will update everyone once the vote is over, hopefully very soon we will be able to provide a fantastic LP experience for users on whichever chain they are and then allow them to leverage those LPs!
We are also going to be launching new pools on UniV3. The new pools that we are launching are going to be focused on Stablecoins. They are the following:
- USDT/USDC
- MIM/USDT
- MIM/USDC
Last but not least, for the ones of you that listened to the Frog Radio - yes Dani did spill the beans that we are working together with Abracadabra to provide a crosschain trading opportunity! More info on this will be coming SOON ™️!
A little sidenote, I just want to mention that we are heads down working, the community has been amazing and we are incredibly grateful for all the support. We are working to build multichain DeFi changing products, we will never stop.
