PSP/ETH AMM Liquidity Pool & Fast-Withdrawal Pool on the DeversiFi Layer 2
Provide DeversiFi Labs with a PSP loan in order to facilitate the seeding of a layer 2 PSP/ETH AMM pool and fast-withdrawal bridges, allowing the gas-free & private trading of PSP on Ethereum as well as fast & private transfers to Ethereum L1 and the Polygon Network
DeversiFi, the Layer 2 exchange built on the StarkWare Validium scaling technology, has recently launched the first version of it’s Layer 2 AMMs in ‘testing mode.’ Upon successful completion of the testing period, the pools will be opened up to external LPs and a substantial liquidity mining program will start.
A similar proposal has been approved by the Lido DAO for a LDO/ETH pool on DeversiFi
If enforced, this proposal will ensure a cheap gateway to buy and sell PSP to more users. As PSP launches on new chains (BSC, Polygon, etc.), the fast-withdrawal bridge will also provide more options to PSP holders.
In order for a PSP/ETH AMM pool to be opened on DeversiFi as quickly as possible, the DeversiFi developers would like to request a PSP token loan.
The PSP loan will also be used to seed a fast withdrawal bridge that enables the instantaneous and private withdrawals back to Ethereum layer 1. DeversiFi users can withdraw to a different address from which they deposited - useful for privacy both privacy, arbitrage and payments.
DeversiFi Labs can also add PSP to the DeversiFi<>Polygon bridge, allowing instant and low cost transfers of PSP from DeversiFi to the Polygon Network, giving Polygon users a low cost way of transferring and trading PSP.
The DAO can recall the loan at any time and there are no additional terms attached.
PSP/ETH on DeversiFI pool volume
Fast withdrawal bridges usage volume
This proposal introduces a PSP loan to Devesify developper that can be recalled or adjusted by the DAO at any time if deemed necessary.
XXX PSP transferred to the DeversiFi Labs multisig: 0x520Cf70a2D0B3dfB7386A2Bc9F800321F62a5c3a
Allocate 2M PSP to fund the AMM + fast Ethereum bridge + other/future fast bridges (Polygon etc)
Allocate 1.5M PSP to fund the AMM + fast Ethereum bridge
DeversiFi Labs will match the portion of the PSP loan that is used to seed the AMM pool with it’s own ETH