TIP-231: Move to native USDC as Protocol Rewards across networks

id	Title	Status	Author	Description	Discussions to	Created
TIP-231	Move to native USDC as Protocol Rewards across networks	Draft	Padzank (@padzank)	Move to native USDC as Protocol Rewards across networks	https://discord.com/invite/QRTtBpte	2024-09-30

Simple Summary

Consolidate all instances of Protocol Rewards of THALES staking to use native USDC as rewards across all supported networks

Abstract

Currently, THALES stakers claim sUSD on Optimism, USDC.e on Arbitrum and USDbC on Base as Protocol Rewards from globaly accrued fees. This is sub-optimal UX for stakers and creates friction for future advancments of the crosschain fee accrual system.

This TIP proposes to consolidate all instances of THALES staking across all networks, to use native USDC for Protocol Rewards.

Motivation

Since the emergence of native USDC across L2s and it's adoption, it is no longer necessary to use the bridged versions of USDC. Overtime V2 deployments already use native USDC across Optimism and Arbitrum as main collateral. This means that majority of protocol fees are currently in native USDC, since Overtime is the leading product in fees generated.

Specification

This TIP entails the Thales Protocol DAO to transition Protocol Rewards from sUSD on Optimism, USDCe on Arbitrum and USDbC on Base, to native USDC support on all respective networks.

Implementation

TBD

Copyright

Copyright and related rights waived via CC0.

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