Curve Proposal - Enable shezBTC/WBTC gauge [Ethereum]
Summary:
This is a proposal to enable $CRV rewards for the shezBTC/WBTC gauge on Curve at: Curve.fi
$CRV incentives will increase liquidity, boosting the efficiency of trading and grow user engagement
By incentivizing, we attract committed LPs, which would result in a thriving ecosystem on Curves AMM, positioning curve as a leader for LPing high yield on correlated pairs.
References/Useful links:
Website: https://www.shezmu.io/
Docs: Abstract | Shezmu
dApp: Shezmu | Leveraging Yield
Twitter: x.com
Github: ShezmuTeam (Shezmu) · GitHub
Protocol Description:
Shezmu introduces a groundbreaking hybrid Collateralized Debt Position (CDP) platform that innovatively combines the capabilities of both NFTs and Yield-Bearing Tokens. Our platform allows users to borrow against both NFTs and Yield-Bearing Tokens, providing unparalleled flexibility and liquidity in the digital asset space. In addition to the core CDP functionality, our project offers a suite of utilities designed to enhance user experience and asset value.
Core Features
- Hybrid CDP Platform:
- Having BTC, ETH and Stablecoin derived assets available to borrow, users can minimize liquidation risk by borrowing an asset thats price moves in tandem with their collateral, making it the most flexible and lowest risk of liquidation CDP to exist.
- Borrowing Against NFTs and Yield-Bearing Tokens: Users can use their NFTs and Yield-Bearing Tokens as collateral to secure loans, unlocking liquidity without relinquishing ownership of their valuable digital assets.
- Dynamic Collateral Management: Oasis supports a wide array of both NFTs and Yield-Bearing Tokens, ensuring users can maximize their assets’ potential.
- Agora Bonds:
- Enhanced Yield Opportunities: Users can participate in our bonding mechanism, providing liquidity to the platform in exchange for attractive returns. This feature ensures a steady supply of capital and rewards participants with competitive yields.
- Cross-Chain Swaps:
- Seamless Interoperability: Shezmu supports cross-chain swaps, enabling users to bridge and swap assets across different blockchain networks effortlessly into Shezmu. This functionality enhances asset mobility and reduces the barriers between various blockchain ecosystems.
- Shezmu-Pegged NFTs:
- Innovative Incentives: Shezmu introduces a unique pegged model for NFTs, where users can burn Shezmu tokens to earn guardian NFTs that emit rewards. This mechanism not only adds value to NFT holdings but also creates a deflationary effect, increasing the scarcity and value of remaining tokens. The NFTs may also be borrowed against in Oasis, allowing for a complete loop within our ecosystem.
By integrating these advanced features, our hybrid CDP platform not only provides a robust solution for borrowing against NFTs and Tokens but also enriches the digital asset ecosystem with liquidity bonds, cross-chain swaps, and innovative NFT utilities. This comprehensive approach ensures users can fully leverage their assets, participate in diverse financial opportunities, and benefit from the evolving crypto landscape.
Motivation:
The curve shezBTC/WBTC gauge will play an important early role in incentivising liquidity providers to help with the process of bootstrapping initial liquidity. It will then serve as an important source of liquidity for shezBTC on an ongoing basis, supporting its utility and viability for integration into a range of DeFi protocols.
Specifications:
Governance: Here is a link to the multisig wallet for the owner safe:
https://etherscan.io/address/0xa004e4cedea8497d6f028463e6756a5e6296bad3
Cronjob Pricing Oracle: Here is a link to the Crobjob Oracle we use for fetching price for assets on our dApp:
https://etherscan.io/address/0x9a559e936395e4e10ed7435d6a43fe69fb1112f7
Audits: First audit can be viewed here:
Centralization Vectors: We have a relatively small engineering team, with one lead engineer, 2 front end developers, two back end developers, and a subgraph developer, but plans and funds are in place to scale as needed. The treasury is currently controlled by the multi-sig wallet.
Market History: Shezmu was launched on the 8th of September 2023 and shezBTC was deployed on the 18th of March 2024. Since then Shezmu TVL has gradually accumulated over $4m in TVL. There have been no major volatility events attached to shezBTC since launch.
Value: We believe in migrating the majority yield pool to wherever the majority of user provided LP is. Therefore, if the Curve pool proves very popular for our community, it is very likely that we will support it to become the primary source of liquidity.