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Threshold NetworkThreshold Networkby0x2F04FD2227af438c91a5F59e903C60a502c7e494maclane.eth

Begin Incentivizing Liquidity To tBTC v2 Curve Pool

Voting ended about 4 years agoSucceeded

https://forum.threshold.network/t/proposal-begin-incentivizing-liquidity-to-tbtc-v2-curve-pool/285

Prior to the official launch of the tBTC v2 bridge we will need to have a plan to ensure a liquid market. Rather than waiting for launch to figure this out, I propose that we preemptively direct incentives towards the tBTC v2 Curve pool.

There are two reasons we should do this:

  1. As discussed by @mhluongo on Discord, to establish a Yearn vault we need to have rewards flowing to the tBTCv2 pool. Ideally, the most efficient approach would be that we simultaneously do this with Yearn on launch. However, given that Matt’s experience coordinating this with the yearn team has demonstrated this will be a slow process, we should start the process sooner rather than later.
  2. As we learned with the T launch: being prepared for the launch is incredibly important. Unlike with T, we have the opportunity to prepare the liquidity before we open the bridge with the v2 tBTC in circulation right now. Doing this will help us get a head start and help us incentivize the remaining v1 holders to convert the tBTC.

How much? I suggest that we start incentivizing with 300k T and adjust upwards or downwards based on results after the first epoch.

Links Curve tBTC Pool with 300 tBTC v1: https://curve.fi/tbtc Curve v2 Pool with 0.8 tBTC v2: https://curve.fi/factory/41

Off-Chain Vote

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5.95M T100%
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0 T0%
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Timeline

Mar 31, 2022Proposal created
Mar 31, 2022Proposal vote started
Apr 07, 2022Proposal vote ended
Oct 11, 2024Proposal updated