Hello,
I would like the rewards for this pool to be better distributed and redistributed between all the other pools because I doubt that the participants in the registrations are the majority of users of the BIFROST protocol. There are currently 41.5K at stake in this pool for 741 bnc + 5 DOT/DAY.
I understand that the participants are perfectly happy, especially if there are only between 1 and around twenty. Taking an average of 20 peoples who put the same amount in this pool, this still makes 780/20 or 39 BNC per person + 0.25 DOT or 11.7 dollars BNC + 1.44 dollars DOT at today's price.
And I doubt there are thousands. At the beginning and over 1 to 3 months ok, but the time has passed now, so reducing the stake rewards from *3 to *4, at least on the BNC and redistributing them proportionally to all the other pools seems to me to be community correct.
There would be 100K + I will at least divide this one by two. In comparison, the closest pool in terms of TVL is the vsDOT-DOT pool with 59K TVL and 53 BNC + 0.63 DOT reward/DAY. The other closest is VDOT-USDT with 111 K TVL for 241 DOT,/DAY. More Three times less than the BNCS pool for a TVL more than twice as much.
I would like to point out that I am not in any of the pools mentioned above, because I am on VDOT and farming on HYDRA. So from my own personal bias I think this pool is getting way too many rewards now that the registration craze is well settled.
Can you review this for the benefit of all protocol stakeholders?
This pool was designed to incentivize the BNCS holders that participated in the BNCS inscriptions.
These users spent gas, some spent a lot of gas during the inscription event in December.
The Bifrost team is not spending any BNC from the Treasury on this pool.
We are just redistributing the gas that was spent to the BNCS users, in the form of BNC and DOT coming from BNC swapped in vDOT to generate yield.
You can refer to this ref
https://bifrost.subsquare.io/democracy/referenda/100