Rates Halving & Long-term Thinking
LP farming rates will halve from the 5% of token cap this week to 2.5% of token cap next week. The adjustment will kick in this upcoming Monday 15:30 PM GMT.
LP farming rates will halve from the 5% of token cap this week to 2.5% of token cap next week. The adjustment will kick in this upcoming Monday (April 5th) on 15:30 PM GMT.
When we decided to set 5% per week, we were expecting a good start and a gradual rise to perhaps upwards of $100m so that we can launch the product and create some buzz. Breaking $700M never even crossed our minds. We are surprised and absolutely thankful for this popular interest.
High TVL is a vanity metric, and was never the long-term goal of Integral. We implemented liquidity concentration so that we can be capital efficient - we are capable of offering exactly the same (world's lowest) price impact to traders whether we have $40m TVL or $700m TVL. Overpaying for TVL is a bad long-term decision for Integral.
We have been showered with private interest and public attention from achieving an astronomically high TVL, and it is hard for us to pull the lever that might give it away. But whenever there's a conflict of interest between short-term thinking and long-term thinking, we will always be acting in accordance to long-term thinking. After all, this is just stage 0 of the mission to Mars. Vanity does not get us to Mars, sound product and a strong community do.
We completely understand if you shift your crops somewhere else in light of this, money is money, and we respect the nature of capital. We will be grateful to those able to take the long-term view about Integral and stick by your fellow resistance comrades. We are confident that this decision benefits you in the long run if you take a long-term interest in our success. As will every other future decision that we make.
Let's think long term.
After all, this will be the last exchange.
P.S. The scarcity of ITGR that this decision intensifies will be addressed through our upcoming public sale. The public sale is expected to allow potential investors (not limited to existing LPs) who choose to hold for the long-term to get a big price discount, which allows even capital-light long-term investors a way to align with Integral. The public sale is expected to happen in 2 - 3 weeks.
P.S Per @duckyourcomplex "oh i would absolutely freaking kill to get my hands on some itgr tokens. farming doesn't really pay off for me."
For the love of Satoshi, YES.
There. Will. Be. Enough. ITGR. For. Everyone. Who. Wants. Some.
Plz do not resort to violence.
（Originally published on Apr-04-2021 02:33:00 AM +UTC）
Integral is a DEX: we are building the last DEX, that belongs to the people.