We realized that most dumped tokens are coming from our Convex bribes. We want to find out what is their real efficiency, and if we could stop or reduce them without too much impact.
We have two Angle-related pools on Curve: the agEUR/ibEUR and the 3EUR (EURs-EURt-agEUR) pool. We want to analyze the efficiency of the pools themselves, and most importantly of the bribes.
Dune dashboard, to know who voted how much veCRV on each a specific gauge: https://dune.xyz/tuta/Curve-Gauges-Votes
We see from the below table that the 3EUR pool is much more efficient than the agEUR/ibEUR one.
How to find out: Query all the votes of Convex on April 6th and compare them to Snapshot vote
Need to find gauge addresses (I can look for the addresses I get as result on etherscan)
→ response Convex doesn’t vote veCRV to the gauges that have less than 0.1% of CVX vote, which include our agEUR/ibEUR gauge with our 17k CVX
Gauge: https://etherscan.io/address/0x38039dd47636154273b287f74c432cac83da97e2
We are voting with our 17k CVX (0.04%) to distribute CRV rewards to this pool, and it has an Angle gauge with currently around ~40K ANGLE / week.
The 17k CVX we use to vote yields a CRV APR of around 0.25%.
→ We are the only one voting with CVX, but they are not accounted for at all. And other users are voting with veCRV on this pool.
Incentivized by 2 veCRV holders: