Pool v.2 aka Provide

July 6 update: We’re ahead of schedule! Pool v.2 (Provide) will go live on July 9, 2020. For more details, read the update below.

LR -> Pool v.2

Pool v.2 has been in the works for some time – a flexible product offering that will reward liquidity providers at this early stage of Incognito’s development. Special thanks to many of you who contributed ideas in the Liquidity Rewards thread! Pool v.2 is the evolution.

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What is Pool v.2?

It combines the best of the current Node Pool with the previous Liquidity Rewards program – and channels all funds to supply liquidity to the pDEX. Because as you guys know – liquidity is essential for the health of the network.

Pool v.2 will make it much easier to provide liquidity, and is designed to be more transparent, and more accessible. Here are some highlights:

  • Option to provide just one currency (one side of the pair)
  • Earn PRV rewards for each coin provided
  • Rewards for each coin compound every 15 minutes
  • Add or remove your provision at any time (the original amount never changes)
  • User-friendly interface to view and manage your provision and rewards

In this model, providers do not bear the brunt of impermanent loss, and earn a flat APY instead on each coin provided.

When is Pool v.2 going live?

Pool v.2 is currently under development, and is expected to launch towards the end of July. We’ll be posting updates under this topic.

56 Likes

Hi ya,

Was wondering will the deposits from LP1 be transferred under LP2 so as to access the user-friendly interface to view and manage our deposits/rewards?

Also wasn’t sure if understanding correctly, with LP2 I only have to provide a single crypto?..so no matching with PRV needed?

Cheers

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Hey @CryptoA

  1. Liquidity providers should move funds on their own. Nobody has access to your liquidity except you

  2. Correct, with Pool V2 no need matching, liquidity provider may supply only one side

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Awesome!..thanks for your reply and help @andrey much appreciated! :+1:

Also I’d like to say a BIG thanks to you, all the Dev’s and all the helpers that help with building and keeping Incognito running…
I’ve only been here a short time but in that time I’ve seen so many ideas and growth with Incognito it’s truly impressive!!..I’m much looking forward to the growth and future of Incognito!!

Congrats to all of the Incognito Team, you’re all very much appreciated!! :smiley: :+1: :+1:

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Really looking forward to this update! @andrey @CryptoA :roll_eyes:

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Exciting news!

@andrey, does this mean the current node pool staking option is being absorbed into Pool v.2? So instead of two separate investment options, which are currently Stake and Provide, there will just be one option, Pool v.2?

13 Likes

Only One side. It is interesting.
Please correct me if i am wrong.

I guess,lets say on pDEX formula X+Y=Constant
And then, Pool v.2 is enable to add only one side.
It mean, PRV price will be volatile each pair. And arbritage opportunity is huge.

Because if formula x+y=constant

For example :

Pool PRV/USDT
PRV : 800,000
USDT: 500,000
pool Rate : 0.625 usdt/prv

If suddenly to add one side USDT 50,000
new Pool PRV/USDT
PRV : 800,000
USDT: 550,000
pool rate : 0.6875 usdt / prv

It will move PRV price up suddenly without nobody selling their USDT. And also vise versa.

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Yes, correct.

Pool V1 + LP = Pool V2.

More details will be shared closer to the launch.

14 Likes

This gets me excited if this is the case. Providing liquidity will sky rocket. I’m assuming the current liquidity I’m providing well get transferred over to the new reward system automatically on update (or do I have to pull out and put it in again once the update is made?). If you can give me some sort of estimate on the return, I will dump all my monies in liquidity right now. (I know nothing you say would be binding, but still, I would)

I’m also very curious about how the single sided providing is going to work. I’m imagining that the whole liquidity rewards pool could be getting staked to supply PRV for the Pairing as well as for providing returns. If this is the case that would be craaazy, and I love it.

11 Likes

Actually I wondered why every pool needs its own quantity of prv … ??

Couldn’t there be one huge prv pool and the btc, eth, usd, etc getting their own single pools?
Trades will always contribute or subtract from to the prv pool and their respective smaller traded currency pool?!

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Hey @Revolve

Unfortunately, or fortunately no. Nobody has access to your funds, which means that you will need to transfer it manually from LP to Pool V2.

No estimations for the returns on this moment. Privacy is the first, returns goes after :slight_smile:

Do not overstate the expectations : ) The functionality will start with something basic and will be improved over time.

This is how AMM algorithm works. After Pool V2 there we plan one more significant improvement for the pDEX. It may help trades with tokens that don’t have a common pool ( BTC <> XMR, ETH <> BNB, etc. Fingers crossed :crossed_fingers: :crossed_fingers:

14 Likes

Just wanted to share how appreciative I am that the developers behind this project listened wholeheartedly to the community, took those thoughts/suggestions and rolled it into a beautiful simple package! Kudos! This Pool V2 is gonna be some good stuff!

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That’s what I’m observing too!
Devs are listening to the suggestions coming from the community and are also implementing them real quick or after some time…
Big up for the team and the community :+1: :muscle:

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@andrey, great information!

What does this change mean for the original pools? It sounds like the originals will still be available in some form so users can migrate funds, but what is the general phase-out plan for these older products? Once they are empty, will they fade away? And in the meantime, will their APR/APY drop to zero?

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so what happens to the staking in the node pool? Does any of that change? Does the apy drop now?

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I think it’s a good question for the PRV holders call. The call is a place where you can ask all questions directly in real time :slight_smile:

Drop the question here if you want it to be included Q/A of Join us for the July PRV Holders call!

Otherwise, I’ll bring more clarifications under this post after the monthly call.

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As long as its like 11am utc I’m in!! @andrey otherwise ill be :zzz:

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For this month the time is fixed, for the next month we’ll try to fit with your time zone :slight_smile:

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I’ll definitely be on that one i have some questions!

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I think it’s X*Y=Constant.

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