The only problem/issue I have with ASTRO is the non-transferability of their vxASTRO governance token.
Efficient markets need assets to be fungible. Some of the ppl who claim vxASTRO tokens will prefer delegating it to actively participating in ASTRO governance. That is a good thing, not a bad thing! If someone staked some xASTRO for vxASTRO and got a lot of votes locked up, but something comes up in his life that forces him to be much less involved in ASTRO governance, the community suffers for his lack of involvement, and the vxASTRO holder is forced to eat an opportunity cost of not being able to transfer ownership of his vxASTRO. I don’t get that system at all. But everything else ASTRO brings to the table seems like progress to me.
For constant product pools, this fee will initially be 0.3%, divided as follows:
a 0.2% fee (2/3rds of the total fee) paid to the LPs for the relevant pool — this remains denominated in the native pool tokens and acts as a payment by increasing the size of the pools (thus increasing the number of tokens that LPs can redeem when they remove liquidity); and
a 0.1% fee (1/3rd of the total fee) paid to the Astral Assembly — this is used to automatically purchase ASTRO from ASTRO liquidity pools; the purchased ASTRO is then deposited into the xASTRO and vxASTRO staking pools in accordance with a ratio set by the Astral Assembly (initially 50/50) — see below under “Token Economics (ASTRO)
I know the decision has already been made.
But want to let people know this fact.
I knew that Terraswap pays a commission fee. For ANC-UST it’s 6-8% - https://alpac4.com/TerraSwapDashboard/. Someone asked about this in the Anchor discord and an Anchor person said it didn’t include Terraswap rewards. But Terraswap rewards aren’t that big as a % of the total APY.
What is the corresponding Astroport txn fee? 0%? 30%?
Terraswap gets zero from the user. It is free.
A user who wants to swap pays the fees to the liquidity provider by the contract.
(Terraswap itself does not pay the commission to the user since it is free)
The APY depends on the Volume of the pair ANC-UST (the fees(commission) made from swap)
The APR will go up if the volume is bigger. (assume ANC price is the same)
(Dex is not a matter for the volume, that is the market volume)
The biggest difference is Astro pair uses 30% of the fees for an Astro purchase and gives (vAstro, vxAstro) rather than giving ANC to the user.
(0.3% of volume will be divided into 0.2% commission + 0.1% Astro 0.1/0.3 == 33%)
ANC will be supplied for the swap and Astro will be demanded.
(As you know, the price goes up when there is more demand. not supply)
It happens for all pairs. I would say Astro designed well for their product. NOT for the other governance.
Every swap will purchase Astro and their tokens will be supplied for the swap.
Do you still think it will be good for your Governance?
It might be good for a short period or the Lp provider could earn more when Astro’s price goes up.
But I still believe it is bad for the other governance.
I would suggest when you got Astro from Airdrop please make a governance poll to reduce the Astro purchase ratio (30% is huge)
It is my opinion you don’t have to agree but I believe like this.
BTW, I am fed up with this situation. it will be the last reply. Thank you
@all: I am a newbie to this space but reading through, I feel that moving the ANC-UST LP pool rewards to astroport makes sense. But my concerns, and I appreciate your patience, are as below:
How do we move our LP stake over to astroport?
We have a LP in anchor with no time locks while astroport requires a lock. Also, it seems we can’t participate in UST-ANC LP in astroport at this stage anymore. So how do late comers in ANC-UST LP on Anchor participate in this?
If the existing LPs in Anchor can’t move over to astroport, then this proposal sounds very harmful for them? i.e. 1) removing the rewards on anchor and can’t move to astroport to get access to ASTRO drop and ANC rewards.
If someone can explain this to me please. Thanks much.
I think you are mixing up Astroport’s lockdrop (an event involving locking liquidity for the launch of the protocol), which has now ended, and the normal state of operation for Astroport. Liquidity providers can now provide and withdraw liquidity as they see fit, with no lock.
In short: providing liquidity for ANC-UST on Astroport is currently available to anyone who wishes to participate, and so moving the rewards over to that pool is unproblematic and was already agreed upon in a previous governance vote