AIP4 - Whitelist Stake DAO to lock ANGLE + D2D swap

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Forum Discussion: https://gov.angle.money/t/aip-4-strategic-partnership-with-stake-dao/251

Specification

• Request to whitelist Stake DAO to lock ANGLE via a locker (locking ANGLE as sdANGLE for boosts).
• Formalise partnership between Angle Protocol and Stake DAO with a D2D token swap. The proposed token swap conditions are to swap SDT & ANGLE tokens in tranches of $100k every 2 weeks using 3-day TWAP prior to each swap until the total value of the swap equates to $500,000.

Overview

The contributors of Stake DAO and Angle Protocol have been actively supporting one another through code reviews, business development, and marketing for the past few weeks and months. The intention has always been to test our collaboration and determine its validity before presenting potential benefits to the respective communities.

We are delighted to present this proposal to the community as we believe that the benefits are clear and at this point propose to formalise working relationships between the two DAO’s with a token swap and whitelisting of Stake DAO to lock ANGLE tokens.

If whitelisted Stake DAO can release its Locker for ANGLE to create sdANGLE (veANGLE locked by Stake DAO) and provide boosted strategies built on top of Angle Protocol products e.g. agEUR/ibEUR Curve Pool.

We also request authorisation from the community to pursue an official partnership between Stake DAO and Angle Protocol formalised with a D2D token swap. The proposed token swap conditions are to swap SDT & ANGLE tokens in tranches of $100k using 3-day TWAP prior to each swap every 2 weeks until the total value of the swap equates to $500,000.

Rationale

How do Stake DAO and Angle Protocol work together?

The need for a Euro Stablecoin in DeFi is clear, and Stake DAO had supported Angle protocols efforts to service that need even before writing any code. The Angle team invited us to ideate with them as they created the protocol, and we supported their implementation choices.

Our commitment is demonstrated through our help in code and enabling the Angle team to leverage our resources and network to fulfill their needs. For instance, most recently, Stake DAO utilised its veCRV to vote for a gauge for agEUR/ibEUR pool (can verify at the link below).

We also have a significant presence on Frax and can actively use our strategic positioning here to increase the usage of agEUR.

Stake DAO has lending solutions and strategies across Ethereum, Avalanche, Polygon, and Harmony, with further releases to follow. The Stake DAO and Angle teams are actively building features that enable Angle protocol to impactfully leverage this cross-chain presence to increase the usage of agEUR and other Angle assets.

Why would I lock my ANGLE on Stake DAO rather than Angle Protocol?

• Dramatically increased incentives for locking ANGLE by combining ANGLE rewards, Stake DAO performance fees, and SDT to lockers. (1.5-3x or greater). Lockers will also be bribed.

• Boosted yield on agEUR strategies. This means more liquidity into strategies leveraging agEUR thereby helping Angle protocol to grow.

• The Stake DAO strategies leveraging agEUR are designed to incentivise Farm & Earn behaviors rather than Farm & Dump, giving the user choices (auto-lock, stake and boost, sell) on a granular basis & incentives for actions such as stake and boost that help the protocol.