[RFC] Mendi Improvement Proposal - Integration and Partnership with Turtle Club

Author: SuperChad (Founder of Turtle Club) Title: Strategic Integration Proposal: Mendi Finance & Turtle Club Type: Request For Comment

Summary: This proposal advocates for the integration of Mendi Finance's lending protocol with Turtle Club, aiming to bolster liquidity provision and security measures. Through this partnership, Mendi Finance gains access to Turtle Club's expert auditors and liquidity providers, enhancing due diligence and ecosystem resilience. Turtle Club will reward Mendi Finance's liquidity pools with Turtle rewards, offering significant emissions boosts and a stake within the Turtle Club syndicate. In return, TurtleDAO asks for 25% of all emissions acquired by Turtle Club LPs during each epoch, fostering alignment and mutual growth.

About Turtle Club: Turtle Club, operating within a DAO framework, realigns incentives among key stakeholders in Web3—Protocols, Liquidity Providers, Venture Capitalists, and Smart Contract Auditors—empowering each member through a decentralized liquidity syndicate. It offers unlimited upside and no downside for LPs, prioritizing security through collaborations with renowned auditing firms and a unique phantom protocol approach.

Motivation: The integration offers Mendi Finance access to seasoned auditors and liquidity providers, strengthening security and attracting liquidity. A 25% emissions boost for Turtle Club LPs incentivizes liquidity provision, enhancing Mendi Finance's prominence in DeFi.

Turtle Shield Security Seal: Turtle Club prioritizes security through collaborations with auditing firms and offers discounts on auditing and bug bounty services, subsidized by TurtleDAO.

Liquidity Rehypothecation & Emissions Boost: LPs can amplify their emissions by rehypothecating liquidity across Turtle Club's partner protocols, with emissions channeled into the TurtleDAO treasury. This model incentivizes liquidity provision and aligns interests through emissions distribution.

TurtleDAO Monetary Policy: Designed to incentivize Turtle emissions across partner protocol liquidity pools, enhancing collective bargaining power and security. Adjustments to token issuance are made in response to growth, fostering sustainability and increasing token value over time.

Token Swap Agreement: Turtle Club provides a list of LPs farming Mendi emissions, with Mendi Finance transferring a 25% boost on these emissions. In return, Turtle Club pays out Turtle incentives to LPs and the Mendi Finance DAO, fostering collaboration and integration.

Alignment with Mendi Finance’s Vision: The proposal aligns with Mendi Finance's ethos of innovation and community-driven growth, cultivating a transparent, efficient, and secure ecosystem.

Technical Considerations: Integration involves sharing Mendi Finance emissions API with Turtle Club, requiring minimal development work. The Turtle Club CTO & CSO will oversee technical aspects, ensuring adherence to best practices and security standards.

Expected Timeline: Integration with Mendi Finance targeted before the LXP-L campaign in April.

Additional Benefits for Partner Protocols: Partner protocols receive 20% of emissions, mitigate smart contract risk, and benefit from Turtle Club's long-term token acquisition strategy.

Conclusion: This integration presents a strategic opportunity for both Mendi Finance and Turtle Club to enhance liquidity provision, strengthen security, and foster mutual growth within the Web3 ecosystem.