Summary:
Proposal to add the aFTMb/wFTM pool to the Gauge controller to enable users to assign a gauge weight and mint CRV.
Abstract:
Ankr is aiming to become a leading Web3 decentralized infrastructure provider, and Ankr Earn plays an important role as a liquid staking provider to solve the capital inefficiency of Proof-of-Stake.
aFTMb is a rebase token enabling users to benefit from staking rewards while holding aFTMb in their wallet. The rebase simulates the staking rewards earned by the staking pool. As such, the redemption value of aFTMb is always 1:1 vs. FTM, making it very easy to trade. The process of staking/unstaking can be seen as the primary market.
Instant liquidity in a DEX is also important for other use cases such as lending. This can be seen as the secondary market. As such, Curve Finance is the most suited StableSwap DEX for maintaining the value of aFTMb close to FTM, as well as being compatible with rebase tokens.
Beyond liquidity, aFTMb on Fantom brings another challenge - cross-chain staking. Ankr Bridge is the enabler of a future cross-chain staking experience where users will be able to stake FTM and get aFTMb on Fantom directly, without having to use Ankr Bridge.
Motivation:
Initially Ankr brought the wFTM - aFTMb pair on Curve for the rebase tokens support and because is the perfect DEX for stablecoins given its like-pair swapping curve which allows low slippage trades.
Currently Ankr is expanding exponentially and is developing new liquid staking tokens use cases for the Defi 2.0 and implementing synergy strategies which benefit both the investors and the whole ecosystem.
Concluding, we propose to add the FTM - aFTMb pool to the Gauge controller to enable users to assign a gauge weight and mint CRV, under the Curve’s gauge weight mechanism, aFTMb holders will enjoy liquid staking with much higher returns, this will bring more liquidity to Curve and open wider crosschain arbitrage opportunities for aFTMb.
Specification:
aFTMb/wMATIC Curve LP (on Polygon network):
aFTMb token address (Polygon network):
Article about Ankr Bridge:
https://medium.com/ankr-network/ankr-bridge-now-on-ankr-earn-cf20bade7317 7
Ankr Docs about Ankr Bridge:
https://www.ankr.com/docs/Earn/bridge/bridge-introduction 6
Audit report of Ankr Bridge:
https://assets.ankr.com/earn/ankr_bridge_security_audit.pdf 9
For:
Add aFTMb/wFTM gauge to the controller
Against:
Do not add aFTMb/wFTM gauge to the controller