Turkey cryptocurrency ownership soared as a result of sustained lira depreciation, the illiberal weaponisation of Tobin tax, and more recently as a flight to safety from inflation. Hence, BiLira’s less-than-ideal adoption rate across Turkish community and elsewhere given external macroeconomic and monetary conditions.
Having said that, I’m sure they will play the bribe game effectively which should translate to more TVL and arbitrage volume fees for Balancer, and an additional source of income for BiLira in the short term. And should the opposition parties in Turkey manage to win the upcoming presidential elections, the recovery trade for Lira will be quite spectacular - both Balancer and BiLira will be situated to capitalise on the influx of yield seekers and speculators.