Stargate Deployment on Abstract

Introduction

This proposal seeks approval from the Stargate DAO to establish an ETH pool on Abstract.

Motivation

Abstract is a consumer-focused blockchain powered by cutting-edge zero-knowledge cryptography for consumer crypto, pioneering culture, community, and creativity onchain. Its mission is to build the world’s biggest on-chain community, driven by the culture economy, leveraging Ethereum to provide cheap, fast, and secure transactions. Abstract was invented by individuals who launched and scaled Pudgy Penguins, Ethereum, Kubernetes and Activision Blizzard.

On top of the likelihood that there will be a lot of users wanting to bridge into Abstract, another benefit of Stargate launching on Abstract is the continuation of a highly strategic relationship between LayerZero and Igloo spanning years. Showing extreme alignment Abstract will also be using Hydra USDC and USDT.

Stargate launching on Abstract will cement Stargate and LayerZero as one of the top interoperability providers of choice in the Abstract ecosystems and will help to ensure the success of another key Hydra chain.

Proposal

It is proposed that Stargate launches on Abstract with an ETH pool. Incentives should be provided to the pool as per SIP23 and the initial liquidity for this pool is proposed to be provided by the Stargate DAO.

Conclusion

Approval of this proposal will establish an ETH pool on Abstract.