AIP #36: Deploy Abracadabra on Blast
tl;dr Deploy the Abracadabra infrastructure, MIM and cauldrons suite natively on Blast!
Introduction and Overview of Blast
Blast, initiated by the creators of Blur, a prominent NFT marketplace protocol that ranked at the top alongside OpenSea in 2023, stands as an innovative Ethereum Layer-2 solution. Led by Pacman and a team of diverse backgrounds, Blast aims to revolutionize the L2 landscape with its unique features and cutting-edge technology. While the L2 network is still in development, users have the opportunity to pre-fund their Blast accounts, earn interest on ETH and stablecoins, and accumulate Blast Points.
The standout feature of the network lies in the introduction of native yield for ETH and stablecoins, facilitated through mechanisms like ETH staking and on-chain Treasury Bill (T-Bill) protocols. Despite being in Early Access, Blast has quickly garnered attention, attracting over $450 million in deposits within its first week. The platform’s BLAST token airdrop serves as an additional incentive, rewarding both early adopters and developers. This presents an exciting prospect for a protocol like Abracadabra to seamlessly deploy our CDP and stablecoin infrastructure directly on Blast.
As Blast prepares for its mainnet launch in February 2024, it becomes crucial for the Abracadabra DAO to signal its intent to participate in this dynamic ecosystem. Protocols can anticipate numerous benefits, including the Developer Airdrop and the commitment to distribute 100% of gas revenue, fostering a supportive environment for dapp development.
Abracadabra Deployment
This proposal outlines a strategic initiative aimed at swiftly deploying Abracadabra’s key products, including MIM, Degenbox, and cauldrons, onto the Blast Testnet with subsequent migration to the Mainnet.
Acting promptly on this deployment initiative opens doors to interesting privileges, including participation in the coveted Blast Developer Airdrops, Gas Fees Sharing, and the potential for accruing native yields in both ETH and Stablecoins. The ability to move swiftly and integrate with innovative networks like Blast has been a game-changer for Abracadabra in the past, and can remain so in the future.
Moreover, the Blast ecosystem has already demonstrated remarkable traction, amassing a Total Value Locked (TVL) exceeding 720 million before its official launch. By swiftly integrating Abracadabra’s products into this thriving ecosystem, the DAO not only taps into an existing and vibrant user base that signaled its commitment to Blast but also plays a pivotal role in contributing to the ecosystem’s growth trajectory.
The unique point system pioneered by Blur and seamlessly integrated into Blast presents an intriguing opportunity. Aligning this point system with Abracadabra’s product line has the potential to not only elevate the visibility of the product launch but also sustainably enhance yields for our offerings.
Resources and Technical Feasibility
Technical assessments and feasibility will be provided as replies to this forum post.
Voting
The following proposal will remain as an AIP for the following 3 days, snapshot voting will then start and last 72 hours.
Snapshot voting can be found here. Voting will go live Friday 15th of December 2023, and will last 72 hours.
