PSP-EPΔ02 - Updating Token Allowlist for ParaBoost

Keywords:

PSP 2.0, Token Allowlist, ParaBoost

Authors

@Bach @Xrivijayan @0xYtocin

Simple Summary and Goals:

The goal of sePSP is to incentivize users to engage in activities that produce positive externalities for Paraswap, such as bringing healthy trading volume per epoch to generate protocol fees.

Improving the UX by including major coins by default with verified addresses in the token allowlist is also important for the inclusivity of all users and their security.

During the implementation of sePSP and the ParaBoost system in this first epoch, it was discovered that the Token Allowlist to filter healthy trades are missing the tokens of key projects which are either critical players in large ecosystems (e.g. GMX on Arbitrum), important infrastructure present across multiple ecosystems (e.g. Sushi and Dodo for DEXs, Frax for stablecoins, the Graph for data APIs, and Synapse for bridging).

We propose to add the following projects and their token addresses in all Paraswap-supported chains to the token allowlists:

1. GMX (https://gmx.io)

• Arbitrum [0xfc5a1a6eb076a2c7ad06ed22c90d7e710e35ad0a]
• Avalanche [0x62edc0692bd897d2295872a9ffcac5425011c661]
• See official addresses: https://gmxio.gitbook.io/gmx/tokenomics
• All details https://github.com/paraswap/community-token-list/issues/4

2. DODO (https://dodoex.io):

• Polygon [0xe4bf2864ebec7b7fdf6eeca9bacae7cdfdaffe78]
• See official addresses: https://docs.dodoex.io/english/developers/contracts-address
• All details https://github.com/paraswap/community-token-list/issues/5

3. Synapse (https://synapseprotocol.com)

• Arbitrum [0x080f6aed32fc474dd5717105dba5ea57268f46eb]
• Polygon [0xf8f9efc0db77d8881500bb06ff5d6abc3070e695]
• BSC [0xa4080f1778e69467e905b8d6f72f6e441f9e9484]
• Optimism [0x5a5fff6f753d7c11a56a52fe47a177a87e431655]
• Fantom [0xe55e19fb4f2d85af758950957714292dac1e25b2]
• See official addresses: https://docs.synapseprotocol.com/reference/contract-addresses
• All details https://github.com/paraswap/community-token-list/issues/6

4. The Graph (https://thegraph.com)

• Arbitrum [0x9623063377ad1b27544c965ccd7342f7ea7e88c7]
• Avalanche [0x8a0cac13c7da965a312f08ea4229c37869e85cb9]
• All details https://github.com/paraswap/community-token-list/issues/7

5. Sushi (https://sushi.com)

• Arbitrum [0xd4d42f0b6def4ce0383636770ef773390d85c61a]
• Polygon [0x0b3f868e0be5597d5db7feb59e1cadbb0fdda50a]
• Fantom [0xae75a438b2e0cb8bb01ec1e1e376de11d44477cc]
• BSC [0x947950bcc74888a40ffa2593c5798f11fc9124c4]
• Avalanche [0x37b608519f91f70f2eeb0e5ed9af4061722e4f76]
• See official addresses: https://github.com/sushiswap/sushi-docs/blob/master/docs/Multichain/Canonical%20Sushi%20Tokens.mdx
• All details https://github.com/paraswap/community-token-list/issues/8

6. FXS (https://frax.finance/)

• Optimism [0x67CCEA5bb16181E7b4109c9c2143c24a1c2205Be]
• BSC [0xe48A3d7d0Bc88d552f730B62c006bC925eadB9e]
• See official addresses: https://docs.frax.finance/smart-contracts/fxs
• All details https://github.com/paraswap/community-token-list/issues/9

7. QUICK (QuickSwap)

• Mainnet 0xd2ba23de8a19316a638dc1e7a9adda1d74233368
• Polygon 0xB5C064F955D8e7F38fE0460C556a72987494eE17
• Official address https://quickswap.exchange/
• See: https://github.com/paraswap/community-token-list/issues/10

8. BLUR

• Mainnet 0x5283d291dbcf85356a21ba090e6db59121208b44 Official page: https://blur.io/ See: https://github.com/paraswap/community-token-list/issues/11

9. RDNT (Radiant)

• Arbitrum 0x0C4681e6C0235179ec3D4F4fc4DF3d14FDD96017 Official site: https://app.radiant.capital/#/markets See: https://github.com/paraswap/community-token-list/issues/12

Context: Mid-epoch release

With PSP 2.0 in the middle of its first epoch, these missing tokens were flagged by DAO members @Xrivijayan and @Chab after experimenting with the newly-released ParaBoost dashboards. Given the rising importance of ecosystems such as BSC, Arbitrum, Optimism, Polygon ,etc. (all are in the top 10 for daily and weekly volumes as ranked by DefiLlama) it would be expeditious for the Paraswap DAO to capture more of these flows by whitelisting the most important projects/tokens/partners with presence on multiple chains.

The PSP 2.0 framework envisions situations such as this where tokens could be added mid-epoch with the use of an Express Proposal; the authors thus believe this is also useful to test the framework in its earliest iteration for the DAO and PSP stakers' collective benefit.

The vote will stand as an agreement for adding these tokens on the above stated chains with the referred addresses. However, depending on the first reactions the vote could be postponed to next epoch.

Means and Implementation Overview

• Introduce several additional important tokens to the ParaBoost allowlist
• Recognize these token addresses in the current epoch's ParaBoosts for sePSP stakers

Voting Options

• For
• Against
• Abstain