Enable gauge for IZE/USDC on Ethereum with a 6% emissions cap

Summary

This proposal would incentivize the creation and growth of an IZE/USDC pool, which is the just-released native token for Galvan Health (get it? GALVAN IZE). This would allow Bunni to fulfill one of its missions in generating liquidity, and be the sole location of that liquidity for a potentially massive protocol.

Useful Links

Twitter: https://twitter.com/galvanhealth Website: https://www.galvan.health/ Community: https://discord.com/invite/gVtqF5RQ7m

Protocol Description

Galvan is a health and wellness ecosystem built on the blockchain to empower you to own and control your health data, informs you about ways to care for yourself and others, and allows you to earn IZE for making healthy choices. The Galvan blockchain is an Eth L2 that will power this digital economy. The Galvan Wellness app is currently in beta with an open waitlist, soon to go public.

The value proposition for Galvan (and then the IZE token) is creating a profitable health and wellness app people actually want to use. The move-to-earn components help build up a large user base quickly, and the IZE token allows users to own their attention and earn rewards from paying advertisers, rather than having their data sold off. The coming marketplace within the app already has many partners lined up wanting to bring their products to users. A permanently useable Rx discount NFT will be live soon. One of the big targets in the works is partnerships with large health insurers, who would pay handsomely to subsidize rewards if people are making better choices because it saves them money in the long run.

Motivation

The Galvan team is well stacked with industry veterans, and the the large team has been building for over a year. They raised over $25 million so far to build out their vision, so this isn't a degen project that might just collapse.

The token just went live a few days ago, able to be bridged from their L2 onto ETH mainnet.

BUT THERE IS NO LIQUIDITY!

Why? Because the team is doing everything they can to avoid SEC action, and so they have been extremely careful with every step. Tokens were never sold. Instead, the only way to get IZE tokens has been to run nodes and earn them very slowly.

This is the exact same technology and playbook that GALA used with their nodes to launch, and GALA hit $5 billion peak value, and still over $300 million right now.

The team will never talk about price, won't be gunning for CEX listings, and won't be adding their own liquidity or paying out emissions to incentivize liquidity. Nothing that will bring SEC attention and hinder their long term plans.

This is where Bunni has a huge opportunity. We can become the sole source for deep and efficient liquidity and capture all of the volume, all of the trading fees. There are large whales in the Galvan community that would buy up veLIT in size to build up the pool.

Stepn GMT ran up to over $2 billion market cap with just the move-to-earn gimmick and farming, and still sits north of $275 million.

Specifications

Governance: Galvan uses a unique governance model where all voting is done by node runners, rather than token holders. This disallows any manipulation by short term interests. Oracles: no oracles are currently needed for price tracking Audits: I could not find any external audits, but with a large team (nearly 100 people) and significant funding, I believe they are doing everything in house. At this time, there are no potential attack vectors since there are no defi integrations for the token yet. Centralization: While this is a centralized company that is building and deploying the app, all on-chain actions and decisions that affect the IZE token will be carried out by node-voting governance, of which the team controls only 20% Market history: None, as the IZE token has just now been live to bridge from their L2 to Ethereum mainnet. Value: Because of this nascent stage and the ambitious plans, there exists an opportunity for Bunni bring in significant volume and fees, as well as showcase its unique ability to organize and create liquidity in the absence of native LP emissions. There is also significant money behind Galvan, and interested parties will be sure to buy up large amounts of veLIT to bootstrap this pool.

Bunni Pool and Gauge Addresses

Bunni pool: 0xDA3D58336c8dD887CfA5340410f594C4FFB1CcFc Bunni gauge: 0x79A43c1C0Ad418CDF5eFe17eEd350a74410e6A9C