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:
- These are 5 random voters out of 25+ CPS participants
- This data doesn’t take into account market movement during the time of voting
- Each voter performed 16 votes in a range of 17-72 minutes
- 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%
If you have additional data or comments, please provide below.