Also if you check https://btconethereum.com/, HBTC has been completely static at 700 btc with no actual use or traction for over 6 months. If people want to acquire wBTC on curve they can do so via curve’s very own UI with real BTC seamlessly. I hardly see how this is needed or desireable at all.
4 Likes
I’m on the side of excluding hBTC, but it’s worth noting that market size looks to have nearly doubled recently.
I would really like to see preparations for tBTC to be added to Curve’s pools over others.
3 Likes
Second this all for tbtc. Hbtc… Never used it seems like a waste of a pool.
2 Likes
hBTC is stupid, it’s just stacked up counterparty risk adding huobi as another giant point of failure.
1 Like
Can we get Huobi to do some incentive on this?
3 Likes
That’s not right as HBTC’s circulating supply on 26/Aug/2020 is over 2,810, besides, from the holder info on etherscan it shows Fortube this protocol holds 59.59% of it (2,810 HBTC); and further more that WBTC is the ERC20 token backed by BTC and its minting process is a bit complicated with higher minting fee charged however, minting of HBTC is much easier (Huobi users can directly and easily mint HBTC on Huobi global, Huobi Korean), and minting fee of HBTC nowadays is around 0.00005 BTC (~0.5 USD).
Interesting watching closely…
I think it is an interesting move worth exploring.
2 Likes
I looked on CoinGecko, Nomics, and CoinMarketCap. I couldn’t find a quote for hBTC. I did find it on Etherscan, but I’m left wondering… is there’s really a market for it?
Perhaps it’s relevant that the top 5 holders seem to control 99%.
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I see no practical use of centralized hBTC atm. This pool is only going to dilute current CRV distribution for LPs. Voting “NO”.
More inclined to adding ETH related pools.
2 Likes
Yes! As my old economics teacher used to say: More is better.
Your economic teacher seemed not to listen to that old wise song “And too much love will kill you” by Freddie Mercury.
This unnecessary pool will dilute CRV incentives of the current pools and make the overall APY less attractive to LPs taking into account falling CRV price. For BTC pools it’s already below 40%. Competitors are not sleeping.
5 Likes
Not only that but also SHADY HUOBI will use customer funds for this…I don’t want my btc etc associated with that scam where Plustoken ponzi laundered all their btc, i am not feeling like getting my USDC etc blacklisted because Huobi is laundering money via CURVE.
3 Likes
Yes, I just tweeted if there is any personal interest involved
Below 40% APY for a risk/reward ratio that is completely skewered because of information asymmetry and maxi-principles? I think you have to get used to it, it will probably be heading towards 20-30% for all pools. More pools, more volume, more fees, more value for the crv tokens. More love, but not a lethal amount.
After Andre Cronje set new standards for the industry the rules of the game have changed. Now 40% APY is far from attractive in yield farming.
It’d be nice for gov users to ground their opinions into reality instead of conjecture or rumours they heard on twitter
6 Likes
This is getting away from the actual point but 3 digit APYs are not sustainable and I think Andre realises that as much as anybody else.
Unless we’re talking about scammy tokens, I don’t see any reason to exclude this or any pool from Curve. It’ll bring attention and use from Asia and a fourth Btc on Ethereum option. If peple don’t want to use out, it will die out and there is no harm done.
8 Likes
For players who use CNY, they prefer to use QC
Looks like the poll is quite contentious. I would put it up to voting in governance, and wouldn’t vote myself also.
Everyone who has a power in governance is encourage to participate when it’s up
1 Like
No one asked for this and it’s concerning why it’s even being proposed here.
It would be good to get an honest assessment from OP as to why it’s being suggested other than:
This would bring more liquidity to the Curve protocol as well as a new Bitcoin on Ethereum option
Integrating centralised wrappers into Ethereum is not desirable for the ecosystem.
3 Likes