Summary
It is proposed to bootstrap $ARP liquidity across dForce protocols with Treasury’s airdropped $ARB tokens(to be received).
Motivation
Arbitrum announced their airdrop plan on 16 March to reward early participants with $ARB token.
As a component of that airdrop, the Arbitrum has determined that they would like to localize a portion of the distribution of governance within communities that have been playing a key role within the Arbitrum ecosystem. Arbitrum has determined that the distribution should include communities that already have decentralized governance and a treasury that is governed by the community. The number of tokens that have been determined to be distributed to each community is a function of a number of factors including date of deployment, whether the project is Arbitrum native or multichain, the number of transactions that it has conducted and the economic value of those transactions, as well as the TVL of such project and if the project’s native token was migrated to Arbitrum.
dForce is eligible for 2,446,634 $ARB tokens airdrop to dForce Treasury, dForce is the top 15 protocol in terms of the amount of $ARB allocation. We propose to utilize Treasury’s airdropped ARB to boost $ARB liquidity across dForce’s protocol matrix.
Specification
As liquidity plays an integral role in the financial system, especially for lending and trading protocols, we’d like to propose to utilize the airdropped tokens to bootstrap $ARB liquidity across dForce network, including but not limited to lending, trading, etc to ensure smooth operation and improve user experience and it also allows dForce Treasury to earn yield with $ARB.
With a deep liquidity, users can borrow $ARB more efficiently and conveniently for participation in a variety of DeFi activities and earn multiple streams of income to further enhance yields, or trade against $USX or other tokens with reduced slippage.