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Alchemical synthetic tokens require deep liquidity in order to be maximally effective. The StakingPools.sol contract powers Staking Pools. Its primary purposes are distributing ALCX tokens to the community and providing liquid pairs for tokens in the Alchemix ecosystem.
At launch, there were four pools, one for alUSD, one for ALCX, one for alUSD/DAI SLP (Sushi Liquidity Pair) tokens, and one for ALCX/ETH SLP tokens.
The following establishes the initial weights and rationale for each:
- 18% alUSD3CRV-f LP tokens. Establishing a peg as close to $1 as possible and providing deep liquidity for alUSD is of utmost importance. Doing so will give real utility for alUSD as an advance on yield farming income as it can easily be converted to DAI, USDC, or USDT with low slippage.
- 60% ALCX/ETH SLP tokens. This pair will be there to provide liquid markets for the ALCX governance token.
- 2% alUSD tokens. This will be an initial pool to incentivise holding alUSD until the alUSD/DAI pair becomes sufficiently liquid. It also serves as a very low-risk way of receiving ALCX tokens.
- 20% ALCX tokens. This pool is to reward holders of ALCX who may be too risk-adverse to join in the ALCX/ETH pool. The longevity of this pool will be determined by the community.
These pools and the weights thereof will be adjusted as Alchemix brings more alchemical synthetic tokens to market. The priority will be incentivising synthetic pairs with their base asset. The weights (as of 14-Jun-2021) have been adjusted to:
- 14.4% alUSD3CRV-f LP
- 46.4% ALCX/ETH SLP
- 0.4% alUSD
- 14.4% ALCX
- 4.4% alETH Saddle LP