Perform data analysis and comparison for the (3,3) section projects, bribery efficiency ranks as follows: Thena > Velo > Chronos > Pearl.

For the (3,3) section projects, data analysis shows bribery efficiency rankings as follows: Thena > Velo > Chronos > Pearl.

Encryption researcher coumarin conducted data analysis and comparison on the ve (3,3) project of interest, covering four projects: Thena, Velo, Chronos, and Pearl.

Efficiency of bribery: Thena > Velo > Chronos > Pearl. The bribery efficiency of Thena has significantly increased due to the rise in $The coin price. Pearl’s bribery efficiency is now Chronos > Velo > Pearl.

Summary evaluation by project: 1) Velodrome, which completed the v2 upgrade, excluding centralized liquidity and launchpad, has limited improvement in Velo’s flywheel. The newly added staking volume has been sluggish since the $velo price surged in February, and TVL has also dropped from its peak of 300M to nearly 200M. Subjectively, Velo’s actions are relatively slow. V2 was originally scheduled to go live on the 15th, but it has not yet been deployed. The urgent task is to quickly launch the centralized liquidity and launchpad.

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2) Thena performed the best. Although the centralized liquidity pool can improve the efficiency of unit liquidity, LPers may not accept impermanent loss and relatively single automated strategies. In fact, after the centralized liquidity went online, Thena’s TVL and coin price both fell, and the bribery amount gradually decreased. It is gratifying that it has now stabilized, and fees have become defensive income. Thena will also launch perpetual contracts in the future, which is worth looking forward to.

3) Chronos, which opened high and fell low, I have been using the current bribery amount to calculate where the price will stabilize during the $Chr decline, and have repeatedly calculated 0.3, 0.2, and now the price has not even reached 0.1. The bribery amount has fallen from 250k per week to 100k. If the bribery amount cannot be stabilized, it means that calculating Vote APR is meaningless, and the flywheel cannot be effectively turned. Confidence (expectation) is more important than gold.

4) Pearl, which is used by Tangible to promote the USDR sidecar, is a tool for ve33. The mining income in the first week was very, very high, and the risk was small. Tangible’s motivation is to use ve33’s flywheel to promote the casting of USDR. However, it may be due to insufficient publicity, and the growth of USDR is relatively slow, and $pearl has been slowly mined. Of course, this “slow” is relative to promoting the ve33 flywheel. In fact, after pearl went online (6.15), the growth of USDR has significantly increased, driving Tangible’s token $Tngbl to rise as well. The current problem is that Pearl’s bribery efficiency is <1, and Tangible needs to ensure stable bribery amounts or raise the Pearl coin price to drive the flywheel.

Reference: https://twitter.com/wu_xiuchen/status/1671743144852086790

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