Welcome to the first SmartIndex weekly report. Every Sunday a report will be published with the most relevant updates, instead of publishing all the news in the Telegram group.
Rewards from staked tokens, farms and punks for this week can be seen in the snapshot taken today here. We are in a bear market and the rewards are quite low, despite some farms performing quite well.
Rewards have been allocated in the next fashion:
This week proposal #46 has been approved. This will move 33% of SIDX/BCH initial liquidity pool to the BlockNG LAW/SIDX pools. Rewards will be in the form of LAW token and for the first 4 weeks they will be stored, like we are currently doing with punk's LAW rewards. This LAW can be later locked for veLAW if such proposal is approved.
BlockNG SIDX/LAW farm had initially a hing yield and it's one of the most respected projects on SmartBCH, so risk is considered low.
This proposal will be made effective today and the portfolio tracker will be upgraded to display the new farm.
With the introduction of BlockNG's SIDX/LAW farm, it was necessary to add compatibility to BlockNG farms. The aim is not only to display balances and rewards for proposal #46, but to take in account SIDX token holders farming in BlockNG.
BlockNG uses a quite complicated system called Kudos, very different from Sushiswap-based farms. Luckily, with the help of the BlockNG team, the portfolio tracker and snapshot system is now compatible. This mean that SIDX token holds can vote with the tokens deposited in the SIDX/LAW farm, with no need to withdraw.
SmartIndex automatization system is also being improved every week. The script which adds liquidity to the EMBER/SIDX farm has been upgraded to be more fault tolerant. As this farm has not as much liquidity as other, sometimes a higher slippage is needed.
This system uses SmartSwap to perform swap between most assets, as it's a DEX-aggregator. Today a bug was found trying to swap Tango to WBCH and the solution is being discussed with the Tango team. Internally, the server uses WBCH instead of BCH, but upgrading everything to BCH could be a solution.