We have an opportunity to increase the TVL of BTC2x-FLI by creating a BTC2x-FLI / ibBTC Uniswap V3 pool in collaboration with Badger DAO.
The LP pool enables users to:
- Gain 1.5x exposure to BTC plus trading fees
- Earn interest as ibBTC is interest-bearing
Badger Finance is a community DAO, focused on bringing Bitcoin to DeFi. They are the leading DeFi project in putting Bitcoin to work, through their Sett yield aggregators and their byvWBTC vault in collaboration with Yearn.
ibBTC is an ERC-20 token representing a Bitcoin earning yield in Badger’s Ecosystem, read more here.
$150k loan of BTC2x-FLI from the IndexCoop Treasury and a $150k loan of ibBTC from the Badger Treasury to seed the liquidity of this new Uniswap V3 pool.
Why Uniswap V3: For smaller hyper-focused pools such as the one proposed here, the benefits of Uniswap V3’s concentrated liquidity will allow for high liquidity in the pair, without the need for a high TVL.
For Badger this pool offers the following benefits:
- Continued demonstration that Badger is the leading Bitcoin specialist in DeFi.
- Increase the extrinsic productivity ibBTC
For Index Coop this pool offers the following benefits:
- Increase the extrinsic productivity for BTC2x-FLI
- Unique product exposure to productive WBTC
- Partnership with another leading DAO in DeFi, creating unforkable value.
- Fragmenting the liquidity for BTC2x-FLI / WBTC Sushi pool
- Social media announcement about the campaign through both parties’ media channels
- Article and Twitter thread about the partnership and benefits of the pool.
Badger DAO’s marketing channels:
- Twitter: 33.9k Followers
- Telegram: 7k Members
- Discord: 14k Members
- Medium: 2.2k Followers
- BTC2x-FLI / ibBTC liquidity
- BTC2x-FLI / ibBTC daily volume
- BTC2x-FLI / ibBTC “efficiency” (24-hour volume / TVL)