Velodrome proposes to make Stargate the STG Hub on Optimism
It is reported that Velodrome, the AMM agreement on Optimism, launched the proposal of Make Velodrome the STG Hubon Optimism on Commonwealth to increase the li…
It is reported that Velodrome, the AMM agreement on Optimism, launched the proposal of Make Velodrome the STG Hubon Optimism on Commonwealth to increase the liquidity of Stargate on Optimism. The proposal proposes that Stargate, based on the cross-chain liquidity agreement of LayerZero, transfer $1.5 million of POL (the liquidity owned by the agreement) from UniswapLP pool to Velodrome and bribe STG-USDC pool. Velodrome will match 40% of Stargate’s bribes (bribes) according to the Tourde OP incentive plan, which can have more than four times the impact on STG-USDC’s liquidity incentive Chans.
Velodrome community proposed Stargate to transfer $1.5 million POL to Velodrome
Interpretation of the news:
Velodrome, the automated market maker (AMM) agreement, has launched a proposal that aims to increase the liquidity of Stargate on Optimism. The proposal, entitled “Make Velodrome the STG Hub on Optimism on Commonwealth”, suggests that Stargate uses the cross-chain liquidity agreement of LayerZero to move $1.5 million of POL, its own liquidity, from UniswapLP pool to Velodrome and bribe STG-USDC pool.
This move will allow Velodrome to match 40% of Stargate’s bribes, and the Tourde OP incentive plan will govern these bribes. The proposal has the potential to have more than four times the impact on STG-USDC’s liquidity incentive Chans.
In essence, this proposal means that Velodrome wants to become the hub for Stargate’s liquidity on Optimism. They are offering incentives through the Tourde OP plan to attract Stargate’s liquidity and thereby increase the overall liquidity of the STG-USDC pool. This will enable more trading volume and ultimately benefit both Velodrome and Stargate.
The proposal is significant because it highlights the growing importance of liquidity in the DeFi ecosystem. Liquidity is a crucial element in the functioning of decentralized exchanges (DEXs) and is vital to ensure that traders can execute their trades at minimal slippage. Therefore, the more liquidity a pool has, the more attractive it becomes to traders, which drives up trading volume.
The proposal also demonstrates the intricate web of connections between different AMM agreements and liquidity providers in the DeFi space. Velodrome and Stargate are both unique projects, but they are now working together to improve the overall liquidity of the STG-USDC pool on Optimism.
In conclusion, Velodrome’s proposal to become the STG Hub on Optimism is an exciting development in the DeFi space. The proposal showcases the importance of liquidity in the ecosystem and demonstrates the collaboration between different projects to achieve shared goals.
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