Launching the permissioned lending pools on Ethereum
Abachi has mentioned in recent AMAs is launching the first product - permissioned pools. We require these in the first version to be launched on Ethereum. This is purely because mainnet is where most liquidity resides.
We will be required to also work and implement on a bridge for gABI between Polygon and Ethereum and launch a limited LP on ethereum.
The proposal seeks community agreement to proceed.
Launch the contracts for permissioned lending on Ethereum Mainnet (we do plan other networks in next versions). These contracts were all written inhouse.
Work with a partner to bridge gABI to ethereum. Prefer to work with Synapse, however there are many options now.
Provide emissions as incentives to these pools in OHM + ABI.
Deploy LP on mainnet and incentivize it using our OHM + ABI emissions.
Overall as we grow, this would also signal an intention to move more operations with a mainnet (ethereum) first approach.
I’m all for this proposal with the team being ETH maxis and as stated this is where the majority of liquidity is I’d say this is the ideal place for our permissioned lending pools.
Synapse Protocol is my go to cross-chain bridge so I would love if we could work with them to enable gABI bridging!!
I guess I’d just like to know what is meant by “incentivise using OHM + ABI emissions ”?
Proposal should be broken down into phases, I suggest:
- Same as above
- Delay this into another phase (see why below)
- Don’t use ABI for incentives, we can use OHM only as we generate enough yield and don’t want to add sell pressure to ABI
- Another phase
I agree with migration to mainnet and I also feel it is too soon to use ABI emissions as incentives. However, when we have regular buy backs and burn mechanism in place, we can add ABI as incentive. Until then I agree with @0x01 's suggestion to use OHM alone as an incentive.
Agree with @0x01 and @igor , lets keep it as ohm incentives to ensure reduced sell pressure on Abi’s
Using a generic DEX as an example, say Sushi swap, if the creator of a LP wants to draw in additional funding from users to increase the liquidity for a particular LP e.g. SUSHI - ABI,
they can choose to incentivise the pool with tokens of their choosing, like ABI & Ohm for example.
That means that in addition to the pool fees that are accrued from the LP being utilised for swaps, liquidity providers also gain additional tokens as a “thank you for helping increase liquidity” to boost their APR%.
As such, people are incentivised to place their liquidity in this particular pool instead of somewhere else.