Summary

Balancer is one of the most innovative - if not the most innovate DEXs in web3, it would be great for both their community and ours to engage in a more formalized collaboration than simply having an LP pool on their platform. We propose formally applying to the Balancer grants program for a BAL grant to help further bolster NFTE liquidity on Arbitrum and grow our NFTFi footprint on Arbitrum by using all proceeds to support app development such as the raffle application, ArbiFlip, and the others we have in the pipeline.

Background:

Growing liquidity on Arbitrum can be greatly enhanced using the LP locking method with a vote escrowed model and 80/20 split in composition for the pool. (in the case of NFTEarth it's actually an 80/20 NFTE / BPT made of yield-bearing $ETH assets.)

Balancer began recently what is a major initiative for their DAO, the ve8020 initiative. Thus far, the Balancer community has not gathered significant traction with this program, and we'd like to propose we formally apply for it to help serve as an awareness catalyst for them, and to also help NFTEarth achieve some support from an established and major presence in DeFi. Along with the Google Cloud Platform partnership the team has in place, aligning interests with Balancer DAO would be another massive step in the long-term interest of creating sustainability for NFTEarth.

Details

Connect with the Balancer team and apply for a Balancer Grant as part of being one of the early DAOs to initiate a ve8020 program for NFTEarth liquidity on Balancer.

Their goal is to is to establish a clear, unbiased incentives program that is easy to understand and massively scale ve8020 adoption in 2023 - we think we are a great fit for this and make a compelling case for a $BAL grant due to the potential of NFTFi on Arbitrum and Layer2 networks. At present NFTEarth does not have enough liquidity to qualify standardly, but the Balancer team has acknowledged they are open to exceptions, and this is where the potential for NFTEarth exists; as the very first adopter of the ve8020 model with a CSP-BPT (NFTFi on Layer2) - we think our commitment to innovation is something their team may take note of and see potential in. By far the biggest challenge the NFTEarth team has been finding the resources for app development; this could potentially open an avenue to help in a big way here.

For more info on the goals of Balancer's initiative, see here: [BIP-146] Incentivize 8020 BPT Staking (ve8020)

Specification

Apply for the Balancer Grants program, and additionally discuss other potential collaborations that NFTEarth/Balancer could mutually benefit from such as NFTFi use-cases and the ERC-4626 standard.

References on the 80/20 LP model.

Balancer 80/20 intro: https://medium.com/balancer-protocol/80-20-balancer-pools-ad7fed816c8d

https://medium.com/balancer-protocol/liquidity-after-bootstrapping-ffc7856d5c8e

Copyright

Copyright and related rights waived via CC0.