Read the original proposal on Discourse

TL DR

1. The LM Rewards will be extended on USDC, DAI, USDT.
2. The current reward rates for each pool will be unaffected.
3. The LM rewards on USDC, DAI, and USDT pools can be ended prior to the completion of the 8 week extension if the alternative shadow tokens pool redesign is deployed.

Extension of Liquidity Mining on Current Pools

The LM rewards schedule for USDC, DAI and USDT is due to end in less than 2 weeks. To maintain liquidity in the near term, and to sustain incentives for new LPs to become involved in the Bancor ecosystem while Bancor prepares new products and upgrades, herein it is proposed to extend the LM rewards program on these pools for a further 8 weeks.

1. USDC, DAI, and USDT will continue to receive the current 50-100K BNT emission per week, for an additional 8 weeks.
2. The liquidity mining program for USDC, DAI, and USDT can be ended prior to the completion of the 8 week extension if the alternative shadow tokens pool redesign is deployed.
3. Upon release of the shadow pools, a new LM incentives program may be considered by the DAO. It is a reasonable expectation that DAO will choose to incentivize these pools; however, it is under no obligation to do so.

Discussion

Weekly fees by pool:

USDT

USDC

DAI

Weekly volume by pool:

USDT

USDC

DAI

Weekly Fees and Volume Side by Side:

Weekly Average APR Side by Side (Last 60 days):

Total Fees:

Last ~60 days:

symbol	total_fees
DAI	$992,679.67
USDT	$1,029,306.74
USDC	$1,506,418.28

Last ~30 days:

symbol	total_fees
DAI	$627,435.88
USDT	$643,455.51
USDC	$954,086.67

Summary

1. At this stage, current protocol growth requires LM to maintain the momentum and stay competitive in the space (the DAO seems aware of this).
2. After achieving the position of market leader in both TVL and volume, LM extension will no longer be necessary, and the voting for LM extensions may be concluded.
3. The new shadow tokens pool design will significantly reduce the pressure resulting from insurance on stable assets, and should help to create a more sustainable system for long-term stablecoin liquidity.
4. A large majority of the LM rewards are re-staked to the protocol, increasing the TVL and the space available for TKN deposits with single sided exposure. If this trend continues, the LM program is more of an asset than a liability, and can be managed more assertively.
5. In the long term, Bancor is aiming towards sustainable annual inflation of 4%, in order to achieve that, Bancor requires significant volume and Vortex to be applied.

Full Data: