[Exchange Management] Protocol Fee for Q4 of 2023

Tokens
1

The protocol fee in top 10 pools is (blockheight 110057629):

Pool:v2.ref-finance.near@4243,   lpt:673102727547871611287077,   quota:15.74%,   (wNEAR-NEAT)
Pool:v2.ref-finance.near@3,      lpt:20497599552698190819335346,         quota:1.13%,    (USDC.e-wNEAR)
Pool:v2.ref-finance.near@4,      lpt:19168113004632931686403428,         quota:0.68%,    (USDT.e-wNEAR)
Pool:v2.ref-finance.near@1395,   lpt:109317463038423377813132,   quota:1.82%,    (AURORA-wNEAR)
Pool:v2.ref-finance.near@3097,   lpt:6181590973358162949204344,  quota:0.29%,    (wNEAR-WOO)
Pool:v2.ref-finance.near@3474,   lpt:100190555907655632120291428,        quota:0.93%,    (BRRR-wNEAR)
Pool:v2.ref-finance.near@79,     lpt:125576254738239467965210250,        quota:0.19%,    (REF-wNEAR)
Pool:v2.ref-finance.near@1207,   lpt:8154563490018653022872928,  quota:0.80%,    (ETH-wNEAR)
Pool:v2.ref-finance.near@47,     lpt:554290242974296869163611520,        quota:0.90%,    (OCT-wNEAR)
Pool:v2.ref-finance.near@3804,   lpt:20766261629454143059431,    quota:2.50%,    (NEKO-USDC.e)

And after withdraw, we got 11 token assets in DAO account. The related amount is:

NEKO-24 3393391.462586207875124559535471
NEAT-8   143473.80809568
WOO-18     6507.844515880273518159
OCT-18     3941.962526344539770021
BRRR-18  640755.808204878654512164
WNEAR-24  13954.497925968256776059426659
REF-18    10905.214876106822534185
USDC.e-6   6503.070216
ETH-18        0.691629470168072759
AURORA-18 12751.259381044739315261
USDT.e-6   3221.300346

Now, we need to transfer those 11 kind of tokens to refchef.near to kick off buy-back process and prepare further ref reward for XRef.

2 Likes
2

Thank you Marco,

Would you be able to provide more insights into what the ‘quota’ for each pool means? Is it the % of volume and corresponding fees for that time period?

I would also like to explore again the possibility of withdrawing protocol fees with more frequency, from all pools.

  • Three month frequency makes it very hard for REF to gain any momentum. Compare the stagnant looking xREF with the daily rewards and variable APY from exchanges such as TraderJoes, even smaller exchanges on Base have adopted this model.

  • In the past we’ve had issues with the number of proposals required to withdraw the funds, the size of the community board, and inactive members making it harder to reach quorum. Since then, the size of the community board has decreased significantly, and as we once again reconsider remuneration, I believe we may be able to define new standards to ensure people vote actively.

3

quota means the portion of protocol fee

4

We have already completed ref buy-back on Q4.

According to the agreement, 285,609 ref (75% of the total) token received this time would deposit to XREF farm as 90 days rewards.
So, we need to adjust our XREF reward rate to 0.036729601731810290 per sec.

2 Likes