@marcusl
its clear that ongoing incentives will not materially change Aura’s position as a key stakeholder in veBAL.
$AURA value is ultimately derived from underlying book value (veBAL) + bribe yield.
$67mn FDV
50% P/BV
53% dividend
GHO and Frax bribing soon.
https://t.co/P8Ce5efxpO
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