First off, let’s talk about Lido on Ethereum & the complexity involved. Recent incidents like the FTX issue have raised questions, but it’s essential to clarify that Lido V2 underwent rigorous audits by nine different companies, ensuring a secure platform. !
Lido’s strong network of collaborations with top-tier protocols and clients has further enhanced its credibility and overall strength. !
Building partnerships and alliances is a testament to Lido’s commitment to growth and success within the DeFi space. !
Now, let’s explore the potential collaboration with Mantle!
Objective: The primary objective of this collaboration is two-fold:
1. Bootstrap a vibrant and sustainable LST ecosystem on Mantle L2
2. Bring blue-chip DeFi protocols to Mantle L2.
The proposal suggests several key steps to achieve the objectives:
1. Allocate 40k ETH from the BitDAO treasury to stETH.
2. Use stETH to bootstrap DEX liquidity & integrations across Mantle
3. Establish a groundbreaking revenue-sharing agreement between BitDAO and Lido DAO for 12 months.
4. Include Mantle in Lido’s bridging plans to enable seamless stETH bridging to Mantle.
5. Collaborate on a gasless bridge for Mantle users powered by stETH
The proposed revenue-sharing agreement is unique for Lido DAO and returns a percentage of revenue earned by Lido DAO Treasury to BitDAO after 12 months. This agreement could be extended through a DAO vote.
The allocated stETH will be used to bootstrap liquidity across prominent DEXes like Uniswap, Curve, and native AMMs on Mantle. This could attract lending protocols like Aave, adding further value to the ecosystem.
As we explore this collaboration, it’s natural to have questions about decentralization & permissionless. Let’s follow the path set by the Lido Decentralization Scorecard and engage in constructive discussions to reach a deeper understanding together.
The proposal has been approved and the strategic collaboration is now live!
Users are welcome to stake and earn double rewards