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Clarification on Ampleforth Geyser Stats
July 2, 2020, 1:10 a.m.
After reviewing the shared sentiment within the Ampleforth Community, it's apparent that there's some confusion regarding stat interpretation seen on the Ampleforth Geyser dashboard.
But before we get to that, here's a quick Geyser update ?:
The Geyser has been on an absolute tear since launching - surpassing 1.85 million+ in deposits in only 1 week ??!
Explanation of Geyser Stats - video:
What do these stats mean?
APY (Annual Percent Yield):
In traditional finance, APY refers to the amount of interest an individual will accrue (earn) in one-year (hence, annual).
Now, in the realm of Geysernomics this APY is represented in Ampleforth's native token: AMPL. So, instead of earned interest, it's earned AMPL. <- this is represented in the following section: Accrued Rewards.
Side note: The APY adheres to a simple interest function, meaning that the rewards do not compound. However, this compounding affect is possible if the user decides to redeem the accrued rewards (thru withdrawal) and re-deposit. Think of it like earning and reinvesting dividend shares into your favorite stock.
Pretty straightforward, right?
As mentioned before, depending on how many WETHAMPL UNI v2 tokens you deposit into the Geyser, this will determine your rewards.
After depositing, your tokens will begin accruing at the APY rate and will reflect as so in the 'Accrued Rewards' section.
In my case, as per the video, I have accrued ~1.5 AMPL up 'til the time of recording.
This is the total number of AMPL awards that will be distributed in today's AMPL.
On Day 1, it was 75,000. If the supply doubled by the end of the pilot, this would read 150,000.
Using the video as reference, the 'Total Rewards' for the day was: ~96,057 AMPL.
Total Deposits reflect the dollar value of all Uniswap Liquidity that is currently deposited in Geyser.
Since the WETHAMPL Uniswap token functions by having 50% of each respective token, the sum of the two would equal the total dollar value of the token.
For example, if there was one user who deposited $100 ETH + $100 AMPL in Uniswap, then put all those into Geyser, this would read $200. Then, if they withdraw a quarter of their stake (25%), it would read $150 (200 - 50 = 150).
Now say you were depositing via Zapper, it will still abide by the same concept. Say one decides to add liquidity by depositing $100 worth of ETH. Zapper will automatically divide that; generating an output of $50 ETH & $50 AMPL. Thus, the total deposit of this particular token would be: $100.
Now this, alongside the 'Unlocked Rewards section is where the message was lost in translation.
This is the number of AMPL rewards still waiting to move to the unlock pool where they can be claimed by users.
The 96K AMPL moves from the locked pool to the unlocked pool gradually over the 90 day pilot period.
Overall token flow is:
Reward AMPL: Locked Pool -> Unlocked Pool -> Claimable by users
Unlocked Rewards Formula:
Total Deposits - Locked Rewards = Unlocked Rewards
As per the formula above ?, the unlocked pool is the remainder of:
TotalDeposits - Locked Rewards.
These are the AMPLs that are redeemable upon withdrawal and could be re-deposited to initiate a quasi-compounding effect.
I hope this provided some clarity about the aforementioned Geyser metrics.
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