It’s excellent news that the Vault’s operations have achieved such outstanding results, especially during these downturns, demonstrating that these strategies are effectively counteracting retail trading. In this case, the protocol has managed to capture a portion of these losses.
A detailed analysis of the wallets that profited during these downturns is necessary to gain insight into these capital flows. The Vault’s current profits stand at $200,000. The market environment and probably some optimization in the Vault’s operations partially explain these results, which are indeed excellent news.
However, part of this profitability might also stem from slightly wider spreads, which I believe are offsetting operational losses but should be narrowed as much as possible to make the exchange more competitive.
Volume is growing, which is excellent news, although I think the ultimate boost would come from outpacing the market’s growth.
We are in an excellent market moment; the project is starting to shift momentum, and these positive results from the Vault confirm that the work being done on the Vault is yielding results.
on the flip side, the APR for DYDX stakers has dropped to below 5% and will likely trend toward 2% when the market cools down. Approximately $70–100M worth of DYDX tokens have already been unstaked, and the total stake has decreased from 28% to 24.5% within just a month after the launch of the Megavault. Once more passive users notice the drop in APR, we will likely see less than 20% of the total DYDX supply staked
Thank you for the thorough discussion in this thread, which highlights several valid concerns regarding reward distribution mechanisms and security collateral. While the visionary changes to the chain are promising, we agree that the short-term impact on critical components like security requires close monitoring.
At Govmos, we recommend exploring minor adjustments to the reward flow if security metrics continue to degrade. Redirecting a portion of the vaults’ high APR to stakers could help address the yield decline linked to the recent tokenomics overhaul. However, this approach should only be pursued if current trends persist, as immediate changes to core components might prove counterproductive. Meanwhile, discussions on potential adjustment mechanisms, such as our proposal, should remain active to ensure the ecosystem’s long-term resilience and adaptability.
The results of the vault are excellent, but what about the stakers and hodlers? Essentially, key players like stakers are not only losing on the token’s value, but the rewards for staking are almost nonexistent. What are you planning to do about this? This is absolutely unacceptable!!
