Aztec

This vote will act a signal to the Aztec team that we are interested in moving forward with a gas incentives program with the details regarding cost and implementation TBD.

Project Description: Aztec is dedicated to bringing programmable privacy to Web3. Aztec Connect offers users earning, lending, borrowing, and swapping with gas savings and privacy by default via Aztec’s zkrollup and bridge contracts. With Aztec Connect, users can deposit into mStable with 90%+ gas savings compared to mainnet and benefit from privacy by default. Because Aztec interacts with existing L1 smart contracts, it can provide scalability — without needing to redeploy any smart contracts or rebuild liquidity pools.

Aztec wants to make it seamless for users to mint and save with mStable. Aztec is requesting a $100,000 grant to subsidize fees for users who are minting and saving with mStable via Aztec. This subsidy will simulate the gas savings that will benefit users when the rollup is full and the gas cost associated with the rollup — kickstarting the network effects for this integration.

Desired Impact: Aztec can drive substantial adoption and deliver an excellent ROI for mStable. A successful outcome of this grant would be:

• Reducing transaction fees by 90%+ compared to mainnet
• Increasing mStable user base over the next 12 months
• Grow to >50 transactions per day so subsidy can be phased out
• Enable mStable to pursue DAO treasuries looking for private yield

Importantly, the subsidy will only be spent as users adopt the network.

Project Website: https://twitter.com/aztecnetwork

Funding Schedule: $50,000 USD in MTA

Recipient Address: TBD