Introduction

Aeneas incentivization program run by algorand foundation has changed a lot the scene for user participation in ecosystem. They allocated Millions of ALGOs to new Emerging protocols like Algofi, Pactfi, AlgoDEX, etc, to attract new users, and Also to well stablished protocols like Tinyman to help the pools getting filled. The incentivization designed for Tinyman was for users who provide liquidity into USDC/USDt, USDt/ALGO, and USDC/ALGO. they can earn up to near 40% APY by staking their LP tokens. The incentivization started from March 10th and will last until end of May. In this Bounty, we want to know whether this incentivization actually well received among users.

Methodology

We are simply going to compare whether this program creates significant change in stats for these pools comparing to some other pools that are not included in program. Also comparing pools stats before and during the rewards.

Let's start with number of Mint and Burn for these 3 Pools. Mint means minting the LP token for a pool equal to your share; you put X$ ALGO + X$ USDC and mint 2X$ LP. Then you Can burn these LP token to get back your original fund.

Both Chart are Showing expected materials:

• Mints start to rise from March 10 for all 3 pool and keep a higher average even now. this means people are constantly providing liquidity after reward program launch and it's significantly more than period before reward.

• Burns are almost steady. A very insignificant rise can be seen but that's due to the facts that mint are increasing a lot and some people want to withdraw their liquidity on different occasions. For example May 11th and 12th which people withdraw their liquidity due to high volatile market to panic sell or buy deep.

Now, let's see if we can back this claim by more data from other pools in Tinyman. I chose 3 pools with good number of transactions all between top 10 Tinyman pools. Number of mints didn't change on march 10th and decreased continuously after that; so people are not willing to provide liquidity for these pools when there are pools with better financial return. Also number of Burns are increasing every now and then, which can be seen as people who are transfering their money from these pools to aeneas pools.

One last Chart that again, shows the impact of incentivization is the number of wallets participating in LPing and becoming a serious Defi user. We can say surely that this program brought a lot of new players into the game.