Farmers Markets #11: Vote your veAERO and veVELO
If you aren't familiar with the veTOKEN model then check out my explainer post about this on Bulb https://www.bulbapp.io/p/270273dd-697b-4332-85ac-db65e50bb46d/vetokens-defi-lore-innovation-yield-from-voting?s_id=bccb5ecb-0380-433a-9e2e-f1405a0305e2
If you want to know more about the analysis here see my post on Bulb
https://www.bulbapp.io/p/d82b629d-6790-4bfe-b185-c1156997baf4/farmers-markets-0-beets-aero-velo-equal-gauges?s_id=d3ffcb86-d4db-4c5f-acc5-0546d4c1744c
Voting veVELO - Epoch 108
See Dune Dashboard for Epoch details https://dune.com/0xkhmer/velodrome
Velodrome Vote: https://velodrome.finance/vote
Optimism Block Explorer https://optimistic.etherscan.io/
Birdseye token explorer https://birdeye.so/?chain=optimism
Velodrome Epoch Dune dashboard https://dune.com/0xkhmer/velodrome
Epoch 107 rewards
Who we voted for
How we voted
How it ended up
In a word: Terrible. We ended up with about 1/7 of the rewards we'd predicted.
Not much we can do with these rewards expect hold onto them.
Who I'm voting my veVELO for this epoch
Who we voted for
How we voted
Assessing the rewards
Nothing too complicated this time. It's not huge rewards but we're just going to keep adding to our existing $TLX bags.
It's down like the rest of the market but volume still seems strong and the incentives are continuing. 
Those boosted vAPRs....
This time out we're not looking at any particular LP but rather at the efficiency of incentives. Sometimes incentives are really efficient, but sometimes not.
- TVL is very important for an LP to ensure people can trade efficiently through it but..
- An LP actually has to catch trades, which fees is the indication of.
- So whilst incentives can attract votes (4) and TVL (1), it doesn't always guarantee you fees, which are ultimately your sustainable revenue.
Voting veAERO - Epoch 43
Aerodrome Rewards: https://aerodrome.finance/dash
Aerodrome Voting https://aerodrome.finance/vote
Base Block Explorer https://basescan.org/
Birdseye Token Explorer https://birdeye.so/?chain=base
Aerodrome Epoch Dune dashboard https://dune.com/0xkhmer/aerodrome
Epoch 42 rewards
Who we voted for
How we voted
How it ended up
A bit over half of the projected rewards is a win in anyone's books. We'll hang onto these as they are yield generating versions of ETH and USD.
Who I'm voting my veAERO for this epoch
Who we voted for
How we voted
Assessing the rewards
Rewards are mostly in $USDC and $AERO with a sprinkling of memecoins on top.
That and $GHST itself is a solid crypto game that might end up a break out hit at some stage.
Those all-by-themselves vAPRs...
Sometimes you don't need any help in showing healthy returns. You just need massive amounts of fees. Here's the top fee earners and, as you can see, the top two are showing very solid vAPRs.
Interestingly the lowest vAPR and 4th highest fees earner has nearly double the votes of the highest fee earner (which is over 6x the fees and nearly 5x the vAPR).
Over to you
Where are you voting your veAERO and veVELO this epoch?
Let me know in the comments!
