Llama Treasury Update (8/12)

It’s time again for your Llama Treasury update!

Here’s what the Llama working group has been working on this week:

We’ve brought on another Llama member to build a Dune Dashboard that will help us analyze POOL drip, TVL, and the correlation between the two. The Dashboard will also provide information on what users are are doing with their claimed POOL: holding or transferring. This information can tell us if the majority of users are holding or selling their claimed POOL.

Under-Collateralized and Zero-Collateral Loan Protocols Update

After reviewing JellyFi and C.R.E.A.M. Iron Bank, we’ve determined that these two options won’t be included in our recommendations but we will include details on those protocols within the report.
Because JellyFi has not yet launched and the Iron Bank has a backlog on whitelisted new protocols, both are not feasible options for PoolTogether to utilize at this time.

We have identified another possible lending protocol: Goldfinch Finance, a decentralized protocol that doesn’t require collateral. We are reviewing Goldfinch and will report back on our findings.

POOL drip and Liquidity Provision Alternatives

We also reviewed Ondo Finance and met with their team to gain more insight into how Ondo’s fixed rate/variable rate positions could be utilized. In the future, PoolTogether could consider using such a service to gain exposure to AMM trading fees, earn on idle POOL holdings, and reduce incentives to liquidity providers on mainnet. At this time, Ondo Finance is still in a guarded launch, and we won’t include this protocol in our recommendations but will include a review within our report.

Ruler Protocol Update

We have followed up with Ruler Protocol, and we have a meeting set up to talk with Ruler about their treasury bonds product: information relating to their treasury bond product is not publicly available, so we can discuss with the team and include our findings in the report.

POOL drip Analysis and KPI Options

While we are analyzing POOL drip rates, we have looked into UMA’s KPI Options for liquidity mining in lieu of using POOL tokens directly. With KPI Options, PoolTogether can set the terms that allow for a greater payout in POOL if certain metrics are achieved (e.g., TVL, DAI/USDC Prize Pool Size, etc.).

Once we complete our analysis on POOL drip and how users are utilizing POOL received through prize pool drip, we can provide more detail on how KPI Options can benefit the protocol. In theory, KPI Options would remove the sell pressure that traditional liquidity mining campaigns introduce on native governance tokens.

Weekly Community Call Update from Llama

We’ll see the PoolTogether on the Community Call where we will talk about these updates, as well.

Let us know your thoughts: are there any other areas Llama should be exploring?

Missed the update from last week? Review the Llama Treasury Update (8/6)

Have a question for the Llama working group? Comment on the forum or tag us on the PoolTogether Discord in the #Treasury channel. @yuan-han-li @AcceleratedCapital @BraveNewDeFi


Did you look at the element and pendle products for fixed rates bonds? You probably don’t want to be in goldfinch if their is a global recession.