[Temperature Check] Partner with Gravita Protocol to get dETH to L2s and DeFi Opportunities
About
This is a proposal suggested by Kent Philly to partner with Gravita Protocol to incentivize dETH holders to bridge to an L2 (Arbitrum, Optimism, zkSync, Polygon zkEVM, Mantle, or Linea) and earn rewards for supporting liquidity of dETH/GRAI pools on L2 exchanges.
Links
Website - https://www.gravitaprotocol.com/
App - https://app.gravitaprotocol.com/
Github 0 GitHub - Gravita-Protocol/Gravita-SmartContracts
Audits - Audits | Gravita Protocol Docs
Ascend Points Program - https://ascend.gravitaprotocol.com/
Introduction to Gravtia Protocol
Gravtia is a fork of Liquity Protocol focused increasing access to decentralized stablecoins with fully collateralized EST LSTs. Gravtia is one year old and has ~$34M of ETH LSTs in TVL right now and ~11.4M GRAI minted across ETH mainnet and 6 L2s.
Gravita Protocol is a decentralised borrowing protocol built on Ethereum that provides users with interest-free loans secured by both Liquid Staking Tokens (LST) and a Stability Pool (SP). Loans are issued in the form of minting GRAI , a token with similar volatility dampening mechanism as LUSD.
Gravita Protocol builds off Liquity’s economic model to ensure efficient borrowing and timely liquidations. Gravita has an unique multi-collateral design in which each position has a single collateral type, but they are all linked to the same stability pool:
Rational
Blockswap needs dETH liquidity on L2s and partnering with Gravita for a joint reward campaign is a great way to convince Stakehouse ETH Stakers to mint dETH or bridge their dETH to an L2 for farming and yield opportunities.
Gravtia has an incentives points program (called Ascend) going now ahead of their airdrop and dETH holders would earn these points as part of this program.
Add in the potential to earn incentives from an L2 DEX like Ramses on Arbitrum or incentives from the L2 this could be a great way to offer dETH holders 2x to 3x rewards for supporting a truly decentralized stablecoin’s usage across DeFi.
Proposal
Blockswap DAO partners with Gravita to incentivize a dETH/GRAI pool on an L2 DEX of choice by the community.
- The L2 and DEX should be determined by the community. Thus far Arbitrum and Ramses have been proposed by community members.
Conclusion
This temperature check is open to feedback and discussion with the broader community.