A couple days after the pools appeared on Osmosis a thread was created on commonwealth discussing what this could be about. These pools appeared sketchy and it was considered that those might be team trying to create exit liquidity as all those activities were funded by wallets allegedly belonging to the team behind the token.

A couple weeks ago E-Money annouced the unwinding of their stablecoin EEUR. This was one of the primary products offered by the chain. Hence it is not a surprise that the team is now trying to attract users for the remaining services the chain provides.

So far a total of 12 new NGM pools have been created on the Osmosis dex, each of them sitting at ~200% APR of external NGM incentives. The daily amount of NGM distributed to them is up to ~133k NGM whch equals to ~10k $USD at the time of writing.

The inflows from the E-Money team caused the amount of NGM IBC'd into Osmosis to more than 3x in a matter of days, most of that growth comes from the sheer amount of NGM put aside for LP incentives.

This also causes the TVL in NGM pools to skyrocket as people take advantage of the tempting yield. From just under $500k at the start of the year to $1.5M at the time of writing