Re-Enable Fantom Pools

Background In accordance with DAO governance, the Stargate Fantom chain asset pools for USDC that was issued by Multichain was closed on May 29, 2023 (https://snapshot.org/#/stgdao.eth/proposal/0xe485f7c2bb4f7843d4ce353ae82f19dcf017e70e917bad28f70ff8b231b57deb). On July 6, 2023, LayerZero introducted several new assets into the Fantom ecosystem including their version of USDC ( https://ftmscan.com/address/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48).

Proposal Stargate should re-enable support for the Fantom chain by creating pools using the USDC token (https://ftmscan.com/address/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48). This would allow Stargate to once again support Fantom and provide the protocol with a way to use safe and trusted assets to do so.

Doing this would allow Stargate to capture transfer volume to and from Fantom, accruing more value to protocol owned liquidity from fees earned during these transfers.

Execution Stargate would open a LayerZero USDC pool on Fantom. To do so, contracts should be deployed to support this pool and emissions should be enabled for them to incentivize needed liquidity to join it allowing Stargate users to transfer assets to and from Fantom. This pool should be connected to every other USDC, BUSD and USDT pool on Arbitrum, Optimism, Avalanche, Polygon, and BNB Chain. Stargate should target a $10,000,000 dollar TVL for the first month with STG distributed at a 5% APR. After its introduction the pools target TVL and emissions should follow Stargate’s current mandate for such actions.

Summary Stargate should re-enable support for the Fantom ecosystem by opening new pools of the USDC (https://ftmscan.com/address/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48) asset introduced recently by LayerZero. Doing so would allow Stargate to re-enable a historically high transfer volume chain, accruing continual benefit to the protocol.