In light of the dynamic rate proposal that seems like it’s going to pass, I want to make a suggestion to help boost the other side of the equation and increase revenue. Essentially, I think that all staking fees from bAssets should first go to filling the reserve to some reasonable amount (maybe a month of runway based on a 1 month EMA or something, details here are less important). Only once the reserve is full would any spillover be distributed to holders of the bAsset.
If this could also allow Anchor to claw back all of the “lost” staking rewards for LP’ed bAssets, which are currently stuck in limbo, it would probably give a good boost to the reserve.
So you want the model that’s already being used and soon to be switched from? bLuna and bEth collateral yield goes in full to the yield reserve. sAVAX is the first collateral in which this does not happen…
No, I want Anchor to get first dibs on all of the yield, not just the collateral yield. I’m suggesting users should not be able to claim any yield until the reserve is healthy (by some definition) and only then will yield be credited to users holding the bAssets in their wallets.
To be clear, I understand the reason behind the V2 mechanism for new collateral types, but I’m far from convinced that it’s going to make anything remotely close to enough of a difference. With the community’s voracious appetite for Anchor Earn coupled with many alternative lending platforms either now available or available in the future, I think there’s almost no way that Anchor can capture a sufficient percentage of the lending side (which, without proof to the contrary, I believe will be significantly smaller than Earn market).
That would only make everyone switch from bLuna to LunaX… bLuna is a LIDO product, not Anchor’s, it’s used as a collateral in Anchor but is not operated by the protocol, so you’re asking for another’s protocol users to pay Anchor’s bill, it’s not an acceptable solution.