Look at @hummusdefi hitting the #1 TVL spot on $METIS at ~$16M!
A bit of foreshadowing of what is to come with the rest of the #MetisMarathon over the next few weeks/months.
Volumes on $HUM are through the roof lately which means the incoming $veHUM swap fees are juicy.𧡠β¬οΈ
No information has come out on swap fee details. The 24hr volumes have averaged anywhere from $500k-$2M between stablecoins.
That is before $METIS incentives for $AAVE stablecoins show up onchain. Let's look at how $OP stables exploded with incentives... π
Let's speculate a bit... If you assume average volumes are ~$1M daily without AAVE incentives and a swap fee (haircut) of .5% is added, that means $5k a day or $1.8M a year for $veHUM stakers on top of the farming boost they receive. π€―
$1.8M of swap fees while $HUM currently has a $2.92M MC.
This is before you consider $AAVE on $OP brought 3x stablecoins onto their chain. With that assumption, you could do some quick math.. $1.8M x 3 = $5.47M paid to $veHUM stakers. 2x the circ MC in rewards on top of boosts
The #MetisMarathon is also incentivizing builders to come on chain.
IMO, it's only a matter of time before a dev team steps up and $HUM gets it's own aggregator on. Similar to $PTP being aggregated by $ECD & $VTX, a project accumulating $HUM has the potential to moon $HUM.
Hard not to be bullish on @hummusdefi. Heavy speculation in this thread but hard to find a better place to stake stables w/ pools all paying 40%+ even after the TVL recently doubled.
I think swap fee details are the next catalyst, hang tight.
hummusexchange.medium.com/the-hummus-hangout-2-introducing-a-new-fee-distribution-strategy-ea0c48aa3d3c?source=social.tw
Small Cap Scientist π¨βπ¬π§ͺπ₯Ό
@SmallCapScience
Investing/Researching/Building/Teaching across Web 3. Nothing posted here is financial advice! #DeFiπ¬ 𧬠𧫠Host - @MarketCapping Building - @SCSLabsResearch
