Greeting poetry community,
We are thrilled to bring you another exciting suggestion as we continue to shape the future of the Bitcoin.com poetry ecosystem.
Poetry Staking v1
In April 2023, we launched a poetry stake program that rewards participants with poetry staking at Ethereum.
Poetry Staking v2
In 2024, we introduced the next iteration of the program. Stake poems, win BTC -This was rewarded with TBTC for immersing the poems in participants. The poem staking program has also been expanded to polygons. Bitcoin.com attracts a large number of users who want BTC for their domain. By aligning the poetry ecosystem with more bitcoin opportunities, we have attracted users interested in retaining and acquiring BTC to bitcoin.com and the poetry ecosystem.
So far, we have achieved:
- 755K+ total value lock (TVL) with over 870 participants across Ethereum and polygons
- $180K+ with new TVL per month (past 3 months)
- User growth of 13% a month ago (past 3 months)
- Remuneration worth $82,352 distributed to the poetry staking program across Ethereum and Polygon.
“Stake Poems Gain BTC” is an attractive value proposition, as evident from the high participation rate, but liquidity trapped in V2 of a staking programme is not capital efficiency. Liquidity is not used to support transactions in any of the poem's routes. It also does not have the fluidity to bridge the chain.
Suggestion: Poetry Staking v3
Like V2, V3's poem V3 continues to be an opportunity for users to wager poems to win BTC, maintaining the opportunity for bitcoin and the poem ecosystem alignment. The underlying staking contracts are upgraded for increased liquidity and capital efficiency.
Poetry Staking v3:
- Users deposit poems to participate
- Some of the deposit will be replaced with TBTC
- Both poems and TBTC deposit in the poem TBTC balancer pool on 80/20
- Related LP tokens will be deposited in the staking poems of the V3 contract
- Users will earn variable APY with staked LP tokens
- If a user withdraws from a poem staking V3:
- Poetry and TBTC are redeemed using LP tokens. This includes the rewards obtained by providing liquidity in the poem TBTC balancer pool.
- TBTC will be exchanged for poetry
- The poem is sent to the user and the variable APY acquired during the stake is obtained.
About Ethereum:
- 80/20 Start the Verse-TBTC Balancer V3 pool. For more information about the balancer pool, click here.
- Create a seamless upgrade agreement to move your V2 position to your staking V3 position. For users migrating through this agreement, some of their positions will be replaced by TBTC and placed in the 80/20 Verse-TBTC Balancer V3 pool above
- Stop rewards with the Poem Staking V2 Program on Ethereum
- Double voting power for V3 participants in the poetry community proposal (2x).
About polygons:
- 80/20 Create a Verse-TBTC Balancer V2 pool. For more information about the balancer pool, click here Note: Balancer V3 is not available for polygons at the time of writing. It is expected to be available within 2025. Therefore, I will use Balancer V2 temporarily.
- Create a seamless upgrade agreement to move your V2 position to your staking V3 position. For users migrating through this agreement, some of their positions will be replaced by TBTC and placed in the 80/20 Verse-TBTC Balancer V2 pool above
- Stop rewards with Polygon Staking V2 Program
- Double voting power for V3 participants in the poetry community proposal (2x).
Note:
- Agricultural remuneration at Ethereum continues.
Strong Points
- Capital-efficient use of piling funds:
- Based on current TVL of over $700,000 in poems staking V2, this amount of liquidity in this poem TBTC pool is very healthy with depth enough to support the transaction It will be a pool. This will encourage more traders in the pool.
- Additional rewards:
- Participants in V3 Staking V3 will receive additional rewards for bet liquidity as LP providers, proportional to the swap volume that takes place in the liquidity pool of poetry TBTC.
- Reducing freeloader:
- Poetry Staking V3 will no longer reward users for simply depositing their idol funds for free money. All participants contribute to the depth of the poem's fluidity in the TBTC pool.
- Improved voting ability to strengthen governance:
- We recognize the commitment to the poem ecosystem from poetry participants staking V3, and they will have a greater voice in the suggestions of our community.
- Balancer Hook offers a way to recharge the poetry experience staking V3 participation. Explore levering hooks for use cases like this:
- Dynamic pricing adjustments
- Poo adjustments to trading fees based on market conditions, trade scale, or ecological tokens of poems, poem voyagers, or related poems.
- Rewards for participation
- Distribute poems or NFTs to replace them with the specified volume. A 10-section scracker for replacing volumes over $150.
- Risk Management
- Implement circuit breakers to suspend transactions during unusual market conditions.
- Governance and Voting
- Enables a token-based governance mechanism that allows liquidity providers to vote for changes to pool configurations or protocols.
- Incentives for Advanced Liquidity Providers
- Calculate and distribute dynamic yields based on time-weighted contributions or other engagement metrics.
Cons
- Existing participants in poems staking V2 may have difficulty transitioning, leading to a loss of participation in poems staking V3. This is mitigated by upgrade agreements that facilitate the transition.
- Poets staking V2 can be difficult to participate.
- In addition to allowing gas-free transactions for gasoline-free users, we explore wrapper contracts to simplify swapping and deposition and deposit the correct amount of nodes/TBTC.
- As the underlying pile assets are LP tokens, participants in the V3 poem are exposed to sterile loss (IL). This occurs when the value of assets offered to the liquidity pool changes compared to simply holding them, leading to potential losses for liquidity providers. If prices diverge significantly. For more information about IL, please see here. However, IL is heavier towards one asset (80%) rather than requiring even exposure, so it is 80/20 balancer pool compared to traditional 50/50 pools In the case, it will be less. This reduces the need for frequent rebalancing as prices fluctuate, minimizing differences between pool asset rates and market prices. As a result, price changes affect the value of the pool and reduce the IL range. Learn more about how balancers reduce IL here.
Note:
- Poems staking V3 rewards can change from time to time. Currently it's 20%+ APY TBTC, but this is different.
Option 1: Yes, continue
Option 2: No, please do not continue
Each option brings its own strengths and considerations. It is an exciting opportunity to shape the relevance of the poetry ecosystem and we look forward to the community's active participation in this decision.
It's up to you, the poetry community now.
Voting period
👉Vote here👈
The voting period for this proposal has begun February 8, 2025 And it's over February 22, 2025. During this time, we encourage all members of the poetry community to express their preferences and actively contribute to this important decision.
Do you still have a poem?
You need a poem to vote for the poem proposal. You can get poems on the wallet app, our website, Poetry Dex, or Kucoin Exchange.
Discussion
To share your thoughts, suggestions and feedback on proposals, join the conversation at The Verse Lounge, a verified community telegram group. Visit Guild.xyz/verse to connect and contribute to dialogue.
Your involvement is important in determining the orientation of the poem's ecosystem. We appreciate your dedication to the poetry community and look forward to hearing from you!
Thank you for being an integral part of my poetry journey. Let's create something special together!
