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REQUEST: Liquidity pool rewards (via Provide in APP) should automatically earn 37%

#1

Right now the liquidity pool rewards (via Provide in APP) pays:
PRV 37% APY
BTC, XMR 9% APY
DAI, ETH 8% APY
USDT, USDC 7% APY

However, all rewards are earned in PRV. However, to achieve the 37% APY for PRV, you must withdraw all your rewards and then “provide more” to PRV provision. This is a manual process.

Also, a problem occurs because if I want to withdraw the rewards from any single provision, I an unable to do so. I must withdraw all rewards and then provide again to the PRV provision.

I’d like to request that all PRV earned automatically compound at the applicable rate of 37% currently. If that isn’t possible or a desired game theory outcome, I’d like to withdraw just the rewards of each provision as desired. It seems silly that I have to also withdraw my PRV rewards just to provide them again.

I hope someone can understand how cumbersome this is. If anyone else has ideas to improve this, please chime in. I hope it can be improved as the pools need liquidity very desperately! I priced two trades on pdex, 1 BTC-to-USDC and 1 BTC-to-USDT, and there was 4.9% and 4.8% slippage respectively! That’s basically unusable.

Great project–I’m not trying to be critical but rather provide a helpful suggestion. People have a LOT of options right now for where to provide liquidity and I think we can make simple changes to be more competitive :grinning: Cheers mates!

4 Likes
#2

The earned PRV already accumulates interest even if you don’t withdraw and leave it as rewards.

1 Like
#3

That’s the way it is explained and portrayed, but this is not the case in reality. The PRV rewards from non-PRV collateral will compound but only at 7-9% currently. @ning confirmed this in a telegram chat which is why I am formally trying to request a change.

2 Likes
#4

Apologizes, I was miss informed. This is something that needs to be addressed.

#5

Just to make things a little more clear.
When you provide PRV, your earnings will automatically be included in the interest calculations. People who only provide PRV do not have to do anything to achieve the promised 37% APY.

What you describe relates to coins other than PRV only.

When you provide BTC, the interest will be 9% APY. Instead of BTC you earn the equivalent of the BTC earnings in PRV. Still 9% APY. That is what we promised, that is what you get.

If you want your BTC earnings from the amount of BTC you provided to earn 37% APY, you will have to remove the earnings from the BTC stake and add it to your PRV stake. The same way you would have to do that if the earnings of your BTC stake were to be displayed in BTC. In that case you would have to withdraw, trade, add to PRV stake.

In simple terms, if the percentage you want, is applied to coins in another jar, you have to move your coins to that jar. Doing that automatically might cause a lot of trouble. What if we decide at some point BTC gets the 37% APY and PRV is 7% APY?

Being able to only withdraw the earnings of the provided coins and leave the initial provided amount in tact sounds like a good option to have. Not sure if it is difficult to implement but will bring it to the team.

12 Likes
#6

This makes far more sense to me in terms of an explanation. My BTC would be earning at 37% and once I have the PRV I would be earning at 7%.

Right now my BTC gets paid at 9% but my earned PRV only earns 9% as well.

Anyway—if we can accomplish this, this would make me and the others I spoke with happy enough. Thank you!

2 Likes
#7

Just to make sure we’re on the same page, in Jamie’s example, you’d be earning 37% APY on your BTC, and therefore also 37% APY on PRV earned under that BTC. Just like this, but 37% instead:

PRV provided under 7% would be earning 7%. if you wanted to earn 37% like BTC for example, you’d have to trade your PRV to BTC, and provide BTC. Disregard this if you were totally clear before!

About the feature request,

You can already withdraw the earnings of provided coins and leave the initial provided amount intact. Correct me if I’m wrong, but your original post requests a feature that allows you to separately withdraw rewards accrued under each provision. Am i understanding you correctly?

2 Likes
#8

Yes, 100%—however, the change I see today is sufficient! I see today that the PRV Rewards and PRV Provisions are now separated on the withdraw screen. Yesterday I had to withdraw my entire PRV Rewards+Provisions. Today I can withdraw just the rewards. This is sufficient. THANK YOU!

3 Likes
#9

ah - i’m not sure what happened there, because that feature’s been there for months! perhaps a display issue? i’ll look into it - please drop me a message if it happens again. that separation allows us to offer instant-ish reward withdrawals, so it’s easy to reinvest if it’s favorable to do so.

let me know if you think of anything else - thanks for your support and feedback, @marko!

#10

You kind of miss the concept of your BTC-earned-PRV not being PRV yet. They are BTC earnings represented in PRV value. It becomes PRV once you withdraw it.

If you’ll allow me a metaphor.
We could display earnings in apples. That doesn’t mean you can make apple juice right away, you have to withdraw them first.

2 Likes
#11

Well then I have a question…if a person where to provide BTC and earn 9% on it and with time be paid those rewards…from what I am understanding is that it is indeed 9% earning being paid and reflecting in rewards in kind coin…yet denoted or reflected in PRV terms…is that correct first of all?..and second of all say a person leaves those rewards in place and does not withdraw them…what will affect the overall value of the reward accumulated so far…will it a change in price to btc or prv?

1 Like
#12

So does this mean that BTC-earned-PRV is valued to PRV token or BTC token? If it’s not PRV yet and BTC goes to $11k to $50k, for example, do I get significantly more PRV rewards? Similarly, when PRV jumps in price (like it did today) did my BTC-earned-PRV get adjusted significantly downward?

#13

You earn in the PRV value of BTC at the time of compounding/calculation. So at 11pm, 9% APY on BTC paid in its PRV equivalent, at 12am 9% APY on BTC paid in PRV priced at that time.

I may be off re the exact time the next hour begins, but that’s the general idea.

1 Like