DeFi

Funny how aerodrome gets embraced as a base ecosystem stalwart when they've stolen over $2M from clanker ecosystem projects and nerfed the noice buyback by ~25%. 

Aero protocol votes try to vampire emerging @uniswap pools w 10K+ APY to prop up the #1 dex narrative (to no avail). lose/lose for aero + clanker eco, shame

Some of you don't understand how Aerodrome or liquidity swaps work, and it shows. 😂

Defi. Ethereum. Physics.

Data at @quotient.

Some thoughts digging into this:

1. Anyone can verify if AERO inflation for the pool is higher than fees earned. Its a yield swap, so one person is getting a fixed return, and the other side gets floating. There's no malice here since someone will obviously "lose". The swap is a risk swap. Aerodrome doesn't "steal" LPs fees when LPs get a fixed return that's less than the possible variable fees. That's what LPs sign up for (to reduce return variability) and its all above board.

2. I do agree with the idea that buybacks are silly, but that's a treasury management issue and has nothing to do with the AMM.

I have opinions on better things to do here but there's no state of the art and there's no free lunch. Personally I would encourage buying AERO with earned fees then routing votes to the liquidity pool, but that's just my opinion.

Buybacks isn't terrible if you buy back your token and use the tokens to fund development, marketing, operations, etc.

Judging the financial engineering after less than a month looking at price action only, and not what the financial engineering gets you after a year is a bit *misguided*.