TL;DR:

The Core Foundation proposes a strategic partnership between Core Chain, a Bitcoin-aligned EVM blockchain, and Stargate v2, aiming to enhance cross-chain functionality and DeFi solutions within the blockchain ecosystem. The integration involves launching Stargate v2 on Core Chain, supported by liquidity and incentive programs, including a 500,000 CORE token allocation and a marketing campaign to boost visibility and adoption. The partnership promises to strengthen both platforms' positions in the DeFi market by increasing cross-chain liquidity, transaction volume, and ecosystem growth, inviting Stargate DAO members to approve the initiative for future growth and innovation.

Background:

Core Chain is the first Bitcoin-aligned EVM blockchain, designed to be Bitcoin’s complementary and hyper-scalable smart contract platform. With 50% of Bitcoin mining hash power already contributing to its security model and non-custodial Bitcoin staking live, Core chain is unlocking Bitcoin both as the prime protector and central asset of the future of DeFi. This unique position has garnered an engaged community, including 2.3M Twitter followers and 266K Discord members. Since its launch in January 2023, Core Chain has achieved over 18M unique addresses and 250M transactions, showcasing its vibrant ecosystem and demand for Bitcoin DeFi solutions.

Opportunity:

The integration with Stargate v2 offers a unique opportunity to leverage Core Chain's technological leadership and massive user base. Stargate's advanced bridging solutions, combined with Core Chain's liquidity and EVM-compatible Bitcoin DeFi capabilities, can significantly enhance cross-chain functionality across the blockchain ecosystem.

Proposal Details:

• Integration: Launch of Stargate v2 on Core Chain as a launch partner with immediate liquidity and incentive availability for USDT and USDC, and an opportunity to add wETH later.
• Liquidity Support: Allocation of 500,000 CORE tokens to a Stargate v2 singlesided liquidity pool from the Core Foundation Treasury:
  • 250,000 CORE to USDT pool
  • 250,000 CORE to USDC pool
• Incentive Program: Participation in the Core Ignition airdrop campaign, designed to incentivize builders and users over a 12month period, focusing on TVL, active addresses, and transaction volume. The airdrop targets a 40-50% allocation to builders, promoting early deployment and engagement.
• Marketing Campaign: An extensive campaign to highlight Stargate v2's integration with Core Chain, emphasizing the benefits of enhanced crosschain and interconnectivity capabilities. This campaign aims to bolster both platforms' visibility and adoption in the broader blockchain ecosystem.

Benefits:

This strategic partnership promises to deliver benefits including:

• Enhanced cross-chain liquidity and asset bridging capabilities.
• Increased transaction volume and ecosystem growth for both Stargate and Core Chain.
• Strengthened position in the DeFi market through innovative Bitcoin DeFi solutions.
• Expansive marketing and community engagement efforts, promoting wider adoption and recognition.

Execution & Timeline:

• Immediate Steps: Formal approval of the proposal by respective DAOs.
• Liquidity Pool Launch: Coordinated launch upon proposal acceptance, with detailed timelines to be announced.
• Marketing Campaign Rollout: Commencing immediately post-approval to maximize exposure and user engagement.

Conclusion:

This proposal represents a strategic initiative to harness the strengths of both Stargate and Core Chain, facilitating a leap forward in the interoperability and functionality of DeFi. Stargate DAO members are invited to endorse this partnership, unlocking new dimensions of growth and innovation.

Participation:

All DAO members are encouraged to actively participate in this pivotal decision, ensuring collaborative efforts reflect the community's vision and ambition.

Voting Options:

• Yes: Approve the integration of Stargate v2 on Core Chain.
• No: Decline the proposal.
• Abstain: Abstain from voting.

Deadline for Votes:

3 days - Ensuring ample time for thorough consideration and discussion.