The title says it all… The UniV3 Pool has been over estimating the rewards.
#1 We need to fix the issue and get an accurate APR amount.
#2 In the meantime, can we remove the wrong number from the UI?
#3 In the long run, we probably want to reimburse our users with GIV accordingly to match the numbers that we were showing.
Thoughts?
Thank you so much for posting this!!
I will work w @cherik and get #2 resolved as per the gov call. Will add a “present box” emoji and a hover tooltip that says “We are experiencing some technical issues with the APR calculation. We appeciate your patience”.
For #3 from the gov call… we should definitely reimbuse people. We could do it like GIVbacks distribution, and get the data from the subgraph (according to Pavle this shouldn’t be an issue). Amin is suggesting we could pay them them a multiple of the rewards they earned.
Ideally we should try to reimburse them what they “should have” gotten them. We can also send them swag tokens! We can probably reimburse them on xDai.
So it sounds like the problem is the dashboard was displaying a too-high APR, however the number of GIV tokens being distributed to stakers was the actual correct reward amount?
Is that an accurate assessment of the situation?
We are still researching… but it seems that the way UniV3 rewards are calculated takes into consideration how narrow your range is, so the APR wasn’t the same for everyone, it is about concentrated liquidity in the tick.
We are having trouble confirming this but it matches the evidence reported the hero user (maybe you :-D?) that told us about the issue.
Wider range LPs seem to get less rewards than narrower range LPs…
Nothing solid yet though.
Well, I’ve been tracking the APR I’m getting over the last few days (which has some bit inaccuracy to it as the currency rates fluctuate, for example).
It started at about 800% on 2/4, when I first started measuring it. Then last night it jumped up to 3124%. Overnight it averaged to 2770%. But today (since 7:00 am) it’s been holding at 315%. So some crazy swings in the APR going on.
I can’t tell what deposits or withdrawals might be taking place to drive that, if any.