In November 2022, the Optimism Governance granted 250,000 OP tokens (now worth $625k) to Angle to support agEUR development on the chain. Now is the time where we start to use this grant, to be distributed at least over the following 6 months.

Since the grant was received in November, we have been refining Merkl, our new incentives mechanism for Uniswap V3 positions (more information below). This will allow Angle to make the most out of this grant: liquidity will be incentivized more efficiently, and LPs will be able to customize how they provide liquidity to optimize their rewards!

From February 24th, these pools will be incentivized:

• agEUR - USDC (0.05%) on Uniswap V3 directly through Merkl

• agEUR - MAI on Velodrome, through bribes

• agEUR - OP on Velodrome, through bribes

Angle already votes for agEUR - MAI pool with its veVELO, and is planning to progressively move some of its veVELO votes from the agEUR - USDC to agEUR - OP pool to match incentives. Naturally, all the bribes received by the protocol thanks to its own votes will be redistributed.

This is 1/2 of what we should be distributing if we stick to a 6-months program. The goal with this distribution is to let the time necessary for LPs toadapt, and not waste precious OP tokens on too low liquidity pools. After the distribution begins, we will reevaluate its effectiveness and adapt it accordingly.

Merkl is a new mechanism to incentivize Uniswap V3-type liquidity positions in a flexible and efficient way. It improves on the previous incentive systems for concentrated liquidity positions by letting incentivizors customize how their reward distribution without impacting the possibilities enabled by UniV3-like AMMs.

You can find more details in this documentation. Merkl is built and maintained by Angle Labs, but is separate from the Angle Protocol.

Angle will leverage the EUROptimism season and $OP incentives distribution to showcase Merkl’s beta exclusively on Optimism.

Watch out for our tweet announcing the exact amounts and start of the Angle EUROptimism distribution 🏁

In November 2022, the Optimism Governance granted 250,000 OP tokens (now worth $625k) to Angle to support agEUR development on the chain. Now is the time where we start to use this grant, to be distributed at least over the following 6 months.

Since the grant was received in November, we have been refining Merkl, our new incentives mechanism for Uniswap V3 positions (more information below). This will allow Angle to make the most out of this grant: liquidity will be incentivized more efficiently, and LPs will be able to customize how they provide liquidity to optimize their rewards!

From February 24th, these pools will be incentivized:

• agEUR - USDC (0.05%) on Uniswap V3 directly through Merkl

• agEUR - MAI on Velodrome, through bribes

• agEUR - OP on Velodrome, through bribes

Angle already votes for agEUR - MAI pool with its veVELO, and is planning to progressively move some of its veVELO votes from the agEUR - USDC to agEUR - OP pool to match incentives. Naturally, all the bribes received by the protocol thanks to its own votes will be redistributed.

This is 1/2 of what we should be distributing if we stick to a 6-months program. The goal with this distribution is to let the time necessary for LPs toadapt, and not waste precious OP tokens on too low liquidity pools. After the distribution begins, we will reevaluate its effectiveness and adapt it accordingly.

Merkl is a new mechanism to incentivize Uniswap V3-type liquidity positions in a flexible and efficient way. It improves on the previous incentive systems for concentrated liquidity positions by letting incentivizors customize how their reward distribution without impacting the possibilities enabled by UniV3-like AMMs.

You can find more details in this documentation. Merkl is built and maintained by Angle Labs, but is separate from the Angle Protocol.

Angle will leverage the EUROptimism season and $OP incentives distribution to showcase Merkl’s beta exclusively on Optimism.

Watch out for our tweet announcing the exact amounts and start of the Angle EUROptimism distribution 🏁