PSP-IPΔ11: Launch Paraswap on Fantom

Governance Proposals Approved Proposals
1

1. Proposal Number & Name

PSP-IPΔ11: Launch ParaSwap and PSP on Fantom Opera Mainnet

2. Keywords

Sidechain, New Launch, PSP, liquidity mining, farming, API, Frontend, Smart Contracts, Marketing

3. Simple Summary

There is actually a lack of efficient DEX Aggregator on Fantom Network. This proposal seeks to extend the ParaSwap DEX Aggregator activity on this sidechain.

4. Context

Fantom is an EVM-compatible Sidechain which is described by the Creators Team, the Fantom Foundation, to be an “Ethereum Helper”. As a sidechain, the fees are pretty cheaps and payed in Fantom Native Token ($FTM), with use Proof Of Stake as a validation Model with a aBFT consensus algorithm named Lachesis. Chainlink Price Feeds (Chainlink Price feeds - Fantom) , DIA & Band Oracle are Live on Fantom . There is actually 6.61 B$ TVL on Fantom (Fantom TVL - DefiLlama)

There is actualy not a lot of DEXs Agregator on Fantom Network (At my knowledge their are only 3 : Open Ocean, ZooTrade, TimechainSwap). They didn’t provide a good efficiency and a good User Experience (some of them are slow in the Front-end, slow to find the best path for a swap and actualize it). ITthe most glaring example is that none of them aggregate Curve Liquidity.

It will be a good idea to launch ParaSwap on Fantom to reach this community, and give to the users the best experience in DEX aggregation for their trades. It should bring news users to discover ParaSwap and its ecosystem.

5. Goals

  1. Release the Paraswap DEX aggregator on Fantom Opera Mainnet
  2. Set-up Liquidity pools → apply for the Fantom Foundation incentive program → raise liquidity for the DAO.

6. Means

→ Helping Paraswap become the 1st DEX Aggregator on all the DeFi.

  • Bring new users to ParaSwap
  • Bring more volume to ParaSwap
  • Get exposed to a new community

→ Provide to the Fantom Users an efficient DEX Aggregator Service.

7. Metrics

  • Get exposed new users ( more than 1,57 millions Unique address on Fantom - 07/01/2022)
  • More liquidity :
  • After the release of DEX Aggregator → Possibility to create ParaSwap Pools and drive some Liquidity in order to get eligible for the Incentive Program on Fantom - More info here : https://fantom.foundation/blog/announcing-370m-ftm-incentive-program/ 1
    Amount receiver PER YEAR
    • $5M to $50M TVL = 1,000,000 FTM / years
    • $50M to $100M TVL = 1,800,000 FTM / years
    • $100Mto $200M TVL = 5,000,000 FTM / years
    • $200M TVL and above = 12,000,000 FTM / years

A review of the Fantom incentive Program progress made can be found here : https://twitter.com/FantomFDN/status/1480922778631118853?s=20

8. Forward-thinking considerations

  • This proposal can be followed by creating liquidity pools, drive Liquidity deposited on Fantom, and apply for the grand program.

9. Implementation Overview

  • Anyswap Bridge

10. Voting options

  • Agree
  • Disagree
  • Abstain

Credit & big Thanks to : @dydymoon @Lup @tokenbrice

Should we submit this proposal on snapshot ?

  • Yes
  • No, rework proposal
  • Abstain

0 voters

15 Likes
2

Link to the old proposal and discussion : Launch ParaSwap on Fantom Opera Mainnet

2 Likes
3

We miss a real efficient dex aggregator on Fantom. lfg

2 Likes
4

Yea! It sure is a great idea!

2 Likes
5

i think it good idea to attract more users and increase trading volume.

FOR

2 Likes
6

Paraswap is going to be the 1st Dex Aggerator. Also hope one day can swap on Harmony One network through Paraswap.

3 Likes
7

this is a must and considering the recent and ongoing boom of the Fantom Blockchain, this will be a great new source of growth for Paraswap. i think this should be a priority as of now.

3 Likes
8

I’m bullish on fantom

3 Likes
9

100 times yes, there are not many aggregators targeting fantom right now we would be among the first in the market.

4 Likes
10

Yes it’s a good proposal as FTM blockchain is slowly gaining momentum in the market.

3 Likes
11

Hello friends! Thanks @Non0 for the great work on this, I’m bringing up the snapshot vote request so you can get access. After all, it’s your proposal! More news by tomorrow, I hope… [EDIT: that was fast! The proposal is live!]

4 Likes
12

Proposal live ! Vote on Snapshot : Snapshot

7 Likes
13

it is a good idea!!!

1 Like
14

Exactly what we need to push volumes up. Good idea.

1 Like
15

When is this being launched? Any ETA?

1 Like
16

Check paraswap, the proposal is live! Congrats @Non0 , and welcome Fantom holders!

5 Likes