USDC Pool on BNB Chain

Introduction This proposal seeks approval from the Stargate DAO to establish a USDC pool on the BNB Chain.

Motivation BNB Chain has historically been an important partner for the Stargate DAO. Stargate has helped to enable the success of BNB Chain by making it simple and cheap for users to bridge in and out of the ecosystem. Meanwhile, the huge demand for BNB Chain has created a lot of usage for Stargate.This partnership has significantly contributed to the success of both Stargate and BNB Chain, which remains one of the most popular ecosystems within Stargate’s network.

To strengthen this symbiotic relationship, we propose introducing a dedicated USDC pool on the BNB Chain. Ensuring the availability of USDC on BNB Chain through Stargate will capitalize on the high demand for USDC in the ecosystem and position Stargate as a major player in meeting that demand.

Proposal Creation of a USDC Pool on BNB Chain: Establish a USDC liquidity pool on BNB Chain, facilitating efficient transfer of USDC between Ethereum, Arbitrum, Base, and BNB Chain.

Liquidity Support: The BNB Chain team has committed to providing initial liquidity to the newly created USDC pool. Any subsequent liquidity should be incentivised according to SIP#23.

Conclusion Approval of this proposal will establish a USDC pool on the BNB Chain.