Farmers Markets #2: Vote your veAERO and veVELO

BbyA...nMtW
12 May 2024
297

If you aren't familiar with the veTOKEN model then check out my explainer post about this on Bulb https://www.bulbapp.io/p/270273dd-697b-4332-85ac-db65e50bb46d/vetokens-defi-lore-innovation-yield-from-voting?s_id=bccb5ecb-0380-433a-9e2e-f1405a0305e2

If you want to know more about the analysis here see my post on Bulb
https://www.bulbapp.io/p/d82b629d-6790-4bfe-b185-c1156997baf4/farmers-markets-0-beets-aero-velo-equal-gauges?s_id=d3ffcb86-d4db-4c5f-acc5-0546d4c1744c




Voting veVELO - Epoch 102

See Dune Dashboard for Epoch details https://dune.com/0xkhmer/velodrome
Velodrome Vote: https://velodrome.finance/vote
Optimism Block Explorer https://optimistic.etherscan.io/
Birdseye token explorer https://birdeye.so/?chain=optimism
Velodrome Epoch Dune dashboard https://dune.com/0xkhmer/velodrome


Epoch 101 rewards


I voted for the vAMM-WETH/TLX LP
https://optimistic.etherscan.io/address/0x6ea20dbc05f58ed607c374e545bfb402d5796770#tokentxns

Incentives


Fees



We got it pretty spot in terms of predicted to actual rewards. Seeing this is only a small amount we'll hold onto our rewards for now (except for the WETH, which goes back into VELO) in Coingecko.


Who I'm voting my veVELO for this epoch


Here's who I'm voting forhttps://optimistic.etherscan.io/address/0x69A9B0f791507C50B413d24aBB761acB5ac52728

Here how I'm voting


Assessing the rewards


$RING


A yield farming protocol. Kinda seems like an investment fund only for yield farming. Currently the treasury is going to incentivising the LP on Velodrome.

Chart doesn't look too bad. It will be interesting to see if they're actually winding this down or are retooling for Optimism. X account seems pretty active.




Those high vAPRs....

This epoch we celebrate the awfulness that is this LPhttps://optimistic.etherscan.io/address/0x20a068f6940b28338363e8b01b07c21c1d5f197b

X account linked on Birdseye is suspendedhttps://twitter.com/ShapeShift_io

Website https://shapeshift.com/ has their other/new X account https://twitter.com/ShapeShift.

Chart is terrible. No volume and a warning. Only thing keeping this LP up there is token incentives (likely from some Foundation grant from a few cycles ago...)

https://birdeye.so/token/0xF1a0DA3367BC7aa04F8D94BA57B862ff37CeD174?chain=optimism




Voting veAERO - Epoch 37

Aerodrome Rewards: https://aerodrome.finance/dash
Aerodrome Voting https://aerodrome.finance/vote
Base Block Explorer https://basescan.org/
Birdseye Token Explorer https://birdeye.so/?chain=base
Aerodrome Epoch Dune dashboard https://dune.com/0xkhmer/aerodrome


Epoch 36 rewards


How I voted

My voting rewards

Incentives


Fees



So a predicted ~$25 became ~$6. We'll hold onto the tokens for now. They're really not worth much at present so we'll leave them in our wallet and keep an eye on what they're doing through a portfolio on Coingecko (whatever we can't track we'll sell back into ETH/AERO).




Who I'm voting my veAERO for this epoch


This epoch I'm voting for
Pool address
https://basescan.org/address/0x8f5f1d63599362115e7f9fe71bfd5ab883d82c82#tokentxns


This is the way I'm voting



Assessing the rewards

$AERO needs no further explanation.


$TN100x

i.e., The Next 100x memecoin on Base


It's a memecoin but one linked to an NFT project and the basic premise it's a last-man-standing scenario. From the website

The Based LP NFTs can be burnt for an allocation of $TN100x. 60% of the per NFT allocation is redeemed immediately, 40% goes to backing the rest of the NFTs. The longer you hold the more you get.


So the game is essentially to see at what stage NFT holders burn their NFTs to sell the token. The longer you wait the more chance you have of the token dumping BUT you also will get more tokens when you decide to burn the NFTs.

Chart isn't too bad so far, but it's a game of brinkmanship. Which is, admittedly, pretty cool. No idea really why you'd buy the token though. Seems the obvious play is to buy the NFTs to then burn and sell the resulting tokens.




Those high vAPRs....

This epoch's special mention goes to $TOWER

https://basescan.org/address/0xAaCE080ea9CE5e7942Ea826d311b6170BdfCf73B

Website https://www.crazydefenseheroes.com/

Token rewards look great on paper and the website seems like this is a reasonable gamefi project but the token looks terrible. Comes with big warnings on Birdseye too.
Stay away.
https://birdeye.so/token/0xf7C1CEfCf7E1dd8161e00099facD3E1Db9e528ee?chain=base



Over to you

Where are you voting your veAERO and veVELO this epoch?
Let me know in the comments!

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