Blockswap DAO Jiuced-Ajna dETH campaign report

Proposal Discussion
1

Hi, Blockswap DAO community!
During the last 5 weeks Blockswap DAO Grant/Liquidity council providing incentives on Juiced for dETH/WETH Ajna pool and it is time to share some info about how it is going.

First of all, let’s repeat the basics. What is Ajna?

The Ajna protocol is a noncustodial, peer-to-pool, permissionless lending and borrowing system that requires no governance or external price feeds to function.
more info here https://faqs.ajna.finance/
the Ajna dETH/WETH market here Ajna

What is Juiced?
Juiced is a permissionless incentives platform built on Ajna
more info here https://docs.juiced.app/
dapp https://juiced.app/

The team behind Ajna people who are contributed to Maker DAO (DAI) in the past
The team behind Juiced people from Yearn DAO (DeFi veterans)

Blockswap DAO collaborated with Juiced from the first Juiced round. Blockswap DAO provides 500 USD/week incentives for dETH/WETH pool and Juiced team double incentives amount with AJNA token. The USD source for Blockswap DAO is internal BSN/USD OTC swap.

At the time of writing the dETH/WETH pool numbers are - 168 dETH deposited in the pool as collateral, 157.83 WETH deposited as lenders offer, from 157.83 WETH 119.33 borrowed (debt) by dETH holders.

I believe some of you noticed Block LSD validators growing. Since the Juiced-Ajna campaign started 4 new validators were staked in Block LSD (total 5 validators in Block LSD now, 4 validating and 1 waiting for activation). The synergy of Juiced-Ajna campaign and Block LSD offer on https://www.etherstake.house/ show the flywheel.

One more positive side effect is kETH TVL grows and kETH TVL opens a door for new opportunities. kETH/WETH Juiced-Ajna pool!

I think running two (dETH/WETH and kETH/WETH) Juiced-Ajna campaigns in parallel will unlock a boost for Steakhouse TVL. Even 500 USD*2 during 5-6 next weeks should have a significant positive effect.

Appreciate any feedback on this topic.

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2

Thanks for leading this and helping to create strategic partnerships with trusted DeFi communities.

Seeing the Stakehouse TVL increase as a result of the first campaign gives me confidence that we should continue and consider expanding to kETH/wETH.

kETH is arguably the best product for liquid staking the BSN DAO has and so increased support for kETH adoption makes sense.

Two questions. Any idea if this ETH liquidity will stay without the BSN/USDC rewards?

How long would you like to run these campaigns into the future if this second campaign is successful for 6 weeks?

I believe the Liquidity council may need to acquire more BSN to keep this campaign going.

Thanks

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Without BSN/USDC rewards WETH holders could withdrew WETH and utilization will be on max level and borrower APR will rise to unacceptable level and dETH holders will be looking to repay WETH debt. First way is to sell dETH on open market, second way is unstake Stakehouse validators ( and repay the WETH debt

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4

Current view, Blockswap DAO should run Juiced-Ajna campaigns as long as this make sense. We are still early and my view it is possible to boost Stakehouse TVL for around 300-500 ETH in next few months via Juiced-Ajna colloboration way.

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