Starting bEth-UST & sAvax-UST pools

General Ideas
1

Not a formal proposal but gathering thoughts from the community.

Currently, the bEth-UST pool in Terraswap sits at $7.11mil generating 20.32% APR fees alone. Terraswap passes back all 0.3% of the fees back to the LP providers, by shifting it over to Astroport at 0.2% fees giving 13.41% APR fees alone, not considering the market dominance of Astroport over Terraswap.

Functions of bEth-UST:

  1. Liquidation of bEth on Anchor Protocol
  2. Exposure to Eth in Terra whilst able to provide it as collateral in Anchor Protocol.

In the future with the rise of Nebula Protocol, clusters may want to include exposure to Eth, and since there is currently a wswstEth-UST pool, we might want to consider a wswstEth-bEth pool since wswstEth is auto-compounding and it might be the asset to be held in Nebula clusters, but the pool may use the wswstEth-bEth pool to swap between the both. However, we might need to see the volume before deciding on this pool in the future.

As for sAvax-UST pool, it comes as no surprise that this pool will be required for

  1. Liquidations of sAvax in Anchor Protocol
  2. Attracting liquidity to Astroport before Terraswap
  3. Exposure to staked Avax on Terra

Happy to hear your thoughts on these.

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2

this seems like a no brainer

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3

This makes sense with the recent discussions of adding sAVAX to Anchor.

On the merit of the idea - seems reasonable and a way to better leverage sAVAX across Terra.

I imagine these builds would have to wait till this integration is ratified via a vote?

4

I think this is a good idea! In addition to the reason which you have provided, another advantage of having a wewstETH-bETH is that this can help lower the barrier of entry of bringing $ETH over to Terra in the form of $bETH. If I’m not wrong, apart from buying $bETH with $UST, users will need to stake $ETH on Lido on the Ethereum chain to get $stETH, convert to $bETH also on the Ethereum chain via Lido, bridge it over using Wormhole portal, and still have to unwrapped it via Anchor

With the wewstETH-bETH pool on Astroport, users will just need to stake $ETH on Lido for $stETH, bridge it over to Terra via Wormhole Portal and swap it to $bETH on Astroport, significantly reducing the number of steps and saving on the gas fees.

Please do correct me if I’m wrong!

For this, no objections as well. Base on the reasons which you shared above, this almost feels like a compulsory pool :joy:

5

We do what we have to in order to support and improve Anchor.

Looks like bETH-UST went live on Astroport very recently. Incidentally, so did bETH-wETH. There is zero liquidity, however. Gotta get those rolling!

6

Thanks, @TopHatOnURHead , although I think wewstETH-bETH is more suitable due to the nature that its an auto-compounded ETH as opposed to wETH, but I do see the draw that some may prefer to hold unstaked ETH.

Anyone knows how can I get about this? Do I need an ARC for this? Or do I need to reach out to a team member to implement this?

7

You don’t need a proposal for this. Just gotta go and make it!

8

After you create a pool, let everyone on Discord know so people are aware of it :muscle:

9

Thanks for pointing it out. Unfortunately , I’m not a developer and any developer would like to contribute to this ? Thanks

10

You can ask in Discord in the dev channel or join the TG dev channel using the invite link that’s in Discord. Someone in either of these should be able to help

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