PSP-EPΔ02 - Updating Token Allowlist for ParaBoost

Governance Proposals Approved Proposals
1

Keywords:

PSP 2.0, Token Allowlist, ParaBoost

Authors

@Bach @Xrivijayan @0xYtocin

Simple Summary and Goals:

The goal of sePSP is to incentivize users to engage in activities that produce positive externalities for Paraswap, such as bringing healthy trading volume per epoch to generate protocol fees.

Improving the UX by including major coins by default with verified addresses in the token allowlist is also important for the inclusivity of all users and their security.

During the implementation of sePSP and the ParaBoost system in this first epoch, it was discovered that the Token Allowlist to filter healthy trades are missing the tokens of key projects which are either critical players in large ecosystems (e.g. GMX on Arbitrum), important infrastructure present across multiple ecosystems (e.g. Sushi and Dodo for DEXs, Frax for stablecoins, the Graph for data APIs, and Synapse for bridging).

We propose to add the following projects and their token addresses in all Paraswap-supported chains to the token allowlists:

  1. GMX (https://gmx.io)
  1. DODO (https://dodoex.io):
  1. Synapse (https://synapseprotocol.com)
  1. The Graph (https://thegraph.com)
  1. Sushi (https://sushi.com)
  1. FXS (https://frax.finance/)
  1. QUICK (QuickSwap)
  1. BLUR
  1. RDNT (Radiant)

Context: Mid-epoch release

With PSP 2.0 in the middle of its first epoch, these missing tokens were flagged by DAO members @Xrivijayan and @Chab after experimenting with the newly-released ParaBoost dashboards. Given the rising importance of ecosystems such as BSC, Arbitrum, Optimism, Polygon ,etc. (all are in the top 10 for daily and weekly volumes as ranked by DefiLlama) it would be expeditious for the Paraswap DAO to capture more of these flows by whitelisting the most important projects/tokens/partners with presence on multiple chains.

The PSP 2.0 framework envisions situations such as this where tokens could be added mid-epoch with the use of an Express Proposal; the authors thus believe this is also useful to test the framework in its earliest iteration for the DAO and PSP stakers’ collective benefit.

The vote will stand as an agreement for adding these tokens on the above stated chains with the referred addresses. However, depending on the first reactions the vote could be postponed to next epoch.

Means and Implementation Overview

  • Introduce several additional important tokens to the ParaBoost allowlist
  • Recognize these token addresses in the current epoch’s ParaBoosts for sePSP stakers

Voting Options

  • For
  • Against
  • Abstain

0 voters

6 Likes
2

Glad to see that members of the community are behind this update which makes sense to me.

5 Likes
3

Really great to see everyone involved in adding more tokens. I also suggest adding the following 3 based on their volumes

  1. QUICK (https://quickswap.exchange/)
  • Polygon [0xB5C064F955D8e7F38fE0460C556a72987494eE17]
  • Ethereum [0xd2ba23de8a19316a638dc1e7a9adda1d74233368]
  • See official addresses: Coingecko
  1. BLUR (https://blur.io/)
  • Ethereum [0x5283d291dbcf85356a21ba090e6db59121208b44]
  • See official addresses: Blur docs
  1. RDNT (Radiant)
  • Arbitrum [0x0C4681e6C0235179ec3D4F4fc4DF3d14FDD96017]
  • See official addresses: Radiant Capital docs
3 Likes
4

I also suggest to add Liquid Staking Derivative:

  1. frxEth [Frax Finance]
  • Ethereum [0x5E8422345238F34275888049021821E8E08CAa1f]
  • See official addresses: Etherscan
  1. sfrxEth [Frax Finance]
  • Ethereum [0x5E8422345238F34275888049021821E8E08CAa1f]
  • See official addresses: Etherscan

Edit: removed the ones already in the tokenlist

4 Likes
5

Make sure to check the tokenlist to see if they’re already included, for example I found stEth, cbEth and rEth all in there: community-token-list/src/sources/tokens at master · paraswap/community-token-list · GitHub

If any is missing, make sure to say on which network and what the contract is!

3 Likes
6

I suggest adding collateral deposited in Aave.
Aave deposited in aave on polygon as one example:

aPolAAVE [0xf329e36C7bF6E5E86ce2150875a84Ce77f477375]

3 Likes
8

It’s an a easy YES for me. I am all in for any update or addition that is aimed at increasing the overall performance and efficiency of Paraswap especially when such updates makes the use of Paraswap easier and more friendly for it’s users.

2 Likes
9

Thanks for these suggestions everyone. Have agreed with @Bach and @0xYtocin that we’ll update the proposal tomorrow to include those tokens.

In the interests of efficiency, we’ll do a 1200 UTC 16 Feb 2023 cutoff for adding any further tokens for the update process this epoch in order to get it expedited to a vote. We can consolidate more requests for the next epoch.

3 Likes
10

I have created the GitHub issues for Quick, Blur, RDNT. Please create the issues on GitHub if you come with accurate needs so it can be added fast to the proposal. Other issues still need to be made.
Also if you can specify a bit more context, like Quickswap former coins need to be renamed to old, or describe a bit more the project, always interesting for everyone and easier with a bit of context.

Considering the timing, the issues for the other coins like Aave coins, that I think should be included in the list, would need more time to gather the icons and addresses etc, except if a complete issue is ready before the vote it could not be included for all of them yet, else we delay the vote a lot.

I think I cannot edit the initial post now so we can maybe just add the new coins above directly in the proposal to be voted if the issues are referenced?

3 Likes
11

Great post, also plz consider adding several on arbitrum:

  1. GMD [GMD finance]
    arbitrum : 0x4945970EfeEc98D393b4b979b9bE265A3aE28A8B
    official address : arbiscan
  2. GRAIL [ camelot DEX ]
    arbitrum : 0x3d9907F9a368ad0a51Be60f7Da3b97cf940982D8
    official address : [arbiscan]
2 Likes
12

Gm,

I propose to add WSTETH on Arbitrum, this one can’t be missed.

WSTETH

Arbitrum : [0x5979D7b546E38E414F7E9822514be443A4800529]
Official adresses : https://www.coingecko.com/fr/pièces/wrapped-steth

Github:

1 Like
13

Hi max,
This proposal has already passed, a new PSP IP/EP will have to be made to introduce new tokens to the allowlist

1 Like