CPS Treasury Swap Analysis

General Discussion
1

Here’s some data on ICX → bnUSD swaps for the CPS Treasury via Balanced.

I created this post to explore whether it makes sense to continue swaps as they currently are implemented or switch to something new like Karma single-sided bonds.

Please note a couple things when looking at this data:

  1. These are 5 random voters out of 25+ CPS participants
  2. This data doesn’t take into account market movement during the time of voting
  3. Each voter performed 16 votes in a range of 17-72 minutes
  4. Price impact is from a specific set of votes (16) by each Voter. I didn’t see any instances from last cycle but theoretically price impact could be worse if multiple voters are sending tx around the same time

Voter 1:

  • Total Tx Fees Paid = 3.505 ICX
  • CPS Fees Paid to Balanced = 68.99 ICX
  • Price Impact = -1.50%

Voter 2:

  • Total Tx Fees Paid = 3.49 ICX
  • CPS Fees Paid to Balanced = 70.24 ICX
  • Price Impact = -1.23%

Voter 3:

  • Total Tx Fees Paid = 3.669 ICX
  • CPS Fees Paid to Balanced = 68.19 ICX
  • Price Impact = -0.93%

Voter 4:

  • Total Tx Fees Paid = 3.491 ICX
  • CPS Fees Paid to Balanced = 70.07 ICX
  • Price Impact = -1.14%

Voter 5:

  • Total Tx Fees Paid = 3.694 ICX
  • CPS Fees Paid to Balanced = 67.63 ICX
  • Price Impact = -0.96%

AVERAGE:

  • Total Tx Fees Paid = 3.57 ICX
  • CPS Fees Paid to Balanced = 69.03 ICX
  • Price Impact = -1.15%

Data here

If you have additional data or comments, please provide below.