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1) My proposals for updating the COMP distribution system in

Jun 27, 2020

2) Right now most of the borrowing/lending in Compound is on BAT. There's nothing _wrong_ with the BAT activity per se, but it's not poviding much value compared to liquidity in USDT/wBTC/ETH/USDC/etc. How do we move more liquidity to more important markets?

SBF

@SBF_FTX

Jun 27, 2020

3) The core problems are: a) not enough liquidity in USDT/WBTC/USDC b) $700k paid to farmers

SBF

@SBF_FTX

Jun 27, 2020

4) A lot of the problem with (a) is that USDT and wBTC can't be used as collateral. I think the single most important thing is to fix that. (b) is a big cost to the protocol and isn't justified by the BAT farming.

SBF

@SBF_FTX

Jun 27, 2020

5) So some proposals: (i) reduce COMP airdrops from 2880/day to 1k/day. COMP distributions should compensate the cost/capital/risk of providing liquidity; I think the true cost of that is closer to 1/3 of the current airdrop rate. COMP is up 300% or so; we need to adjust drops

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Replying to

I guess two options: 1) could readjust the rewards then 2) could peg the COMP distributions to USD value instead of # tokens

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SBF

@SBF_FTX

Replying to

@shitcoinprotips

agreed

7:10 PM · Jun 27, 2020Twitter Web App