GBC <> Defrag

Hey, Berries! 🍇

We're excited to announce that our project is partnering with DeFrag DAO, the pioneering lending protocol for NFT assets on Arbitrum! 🤝

This collaboration will enable GBC holders to take instant loans against their NFTs and engage in strategies on GMX. To initiate this partnership, we're proposing to seed the newly established Underwriting Liquidity Pool (ULP) for GBC with approximately $25,000 in USDC. 💰

Based on the data we've gathered with the help of Defrag team, here's an analysis of the estimated APY and daily borrowing rate for different collections within the protocol, as of March 25th:

Smols Legacy:

Total deposits: $168,675 Time since inception: 56 days APY: 45.91% Daily borrowing rate: (Accrued fees/Time since inception)/Total deposits = ($11,881/56)/$168,675 ≈ 0.13% per day Rare GLs:

Total deposits: $26,293 Time since inception: 46 days APY: 49.98% Daily borrowing rate: ($1,656/46)/$26,293 ≈ 0.13% per day Special GLs:

Total deposits: $35,050 Time since inception: 46 days APY: 42.75% Daily borrowing rate: ($1,888/46)/$35,050 ≈ 0.09% per day Common GLs:

Total deposits: $55,131 Time since inception: 46 days APY: 66.61% Daily borrowing rate: ($2,739/46)/$55,131 ≈ 0.11% per day The average ULP APY between all collections is approximately 45.83%.

this proposal is a request for your approval to the following funding:

• Initially, we'll deposit $25,000 USDC into the ULP for GBC, which will remain for a minimum of 3 months for evaluation. 📆
• DeFrag will add $10,000 in liquidity to the ULP. 💪
• our treasury will obtain GBCUSDC tokens, signifying our share of the ULP. 💎
• As users borrow, fees will amass in the pool and be divided proportionally among GBCUSDC holders. 💸
• We can reclaim our USDC, along with any accumulated fees, whenever we want. 🔁
• With the average APY from launched collections hovering around 45%, we're thrilled about the potential benefits this collaboration could bring! ✨

By taking part in this partnership, the anticipated APY generated will serve as an additional revenue stream for our Treasury, further bolstering the ecosystem. 💪

We wanted to share this fantastic news with you all and gather your thoughts on the proposal. Remember, we're a community-driven project, and your input is vital to our success! 🥰

So, what's your take on this? We're eager to hear your thoughts! Let's continue to make GBC flourish and dive into this amazing new opportunity together!