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TRC 97 - Enable tBTC/WBTC gauge (10% cap)

Voting ended over 2 years agoSucceeded

Summary: Proposal to add veLIT gauge support for UniV3 tBTC/WBTC pool on Ethereum.

Protocol Description: tBTC is a decentralized wrapped Bitcoin, that is 1:1 backed by BTC. Unlike other wrapped Bitcoins, tBTC is backed by BTC held by a decentralized network of nodes using threshold cryptography, the Threshold Network. This design allows tBTC to be minted and redeemed permissionlessly. As a redeemable wrapped token, tBTC is pegged to the price of BTC. Since launch, tBTC’s price has not significantly diverged from that of BTC. tBTC launched in January of 2023, and currently has ~2100 BTC to collateralize the ~2100 tBTC. WBTC is a well known centralized wrapped Bitcoin.

Off-Chain Vote

for
4.46M veLIT100%
against
0 veLIT0%
Quorum:215%
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Discussion

TimelessTRC 97 - Enable tBTC/WBTC gauge (10% cap)

Timeline

Oct 29, 2023Proposal created
Oct 29, 2023Proposal vote started
Nov 01, 2023Proposal vote ended
Nov 01, 2023Proposal updated