Context

The Bahamut network is a blockchain platform that is part of the Fastex ecosystem. It is described as a smart contract-enabled, open-source Distributed Ledger Technology (DLT) platform, designed for various Web3 applications.

One of the key innovations of the Bahamut network is its use of the Proof-of-Stake-and-Activity (PoSA) consensus mechanism. This consensus model adds an extra layer of security and decentralization by incorporating activity as a factor in addition to the stake. This model is designed to enhance both the security and the sustainability of the network.

Proposal

Integrate Bahamut into the Symbiosis protocol. The integration includes the following:

• Mint USDC, USDT and WETH representation tokens on Bahamut chain in return of original assets locked on Ethereum chain.
• Incorporate support for the new blockchain within the Symbiosis protocol. This entails adding the new stablecoin token to the Symbiosis AMM DEX on the host chain. Concurrently, the Symbiosis relayer network should begin interfacing with the newly integrated blockchain.
• Deploy and tune Symbiosis contracts on Bahamut.
• Implement routing via existing DEXes on Bahamut.

Key points

• The integration is expected to enhance the TVL within the Symbiosis protocol, attracting more users and developers.
• As an EVM compatible chain, Bahamut can be seamlessly integrated into the Symbiosis protocol.