Partnership with dForce to Accelerate Multi-Chain Expansion

💡Idea Discussions
1

Summary

dForce proposes to extend lending support to MIM on Ethereum and Arbitrum, and would also like to gain initial liquidity support from Abracadabra community to bootstrap the lending pool of MIM.

Background

dForce advocates for building a full set of DeFi protocols covering assets, lending, and trading. dForce Lending is currently #1 lending protocol on Arbitrum in terms of TVL and #3 lending protocol on BSC in terms of borrowing volume.

dForce Lending has undergone extensive code reviews and security audits by Trail of Bits, ConsenSys Diligence, CertiK, Certora (formal verification), with a Bug Bounty Program launched through Immunefi . Click here to view full audit reports.

Motivation

This proposal aims to expand MIM’s multi-chain liquidity and community through a partnership with dForce. We believe this integration demonstrates strong synergies between the two communities.

dForce is currently deployed on Ethereum, Arbitrum, Optimism, and BSC . As a blockchain agnostic protocol aiming to provide underlying infrastructure powering the development of DeFi, dForce pertains to the ability to interact with differing protocols in various environment, giving users the freedom of choice to change between blockchains.

Abracadabra has proved its success with impressive growth since its launch, but in order to strengthen the leading position of MIM as a decentralized stablecoin, we believe it’s crucial for MIM to unlock multiple venues for holders to earn passive yields in a meaningful way. dForce can extend lending support to MIM on Arbitrum and Ethereum, further expand the utilization of MIM on different layers.

dForce proposes to extend lending support to MIM on Ethereum and Arbitrum, and would like to gain initial liquidity support of 60m MIM (30m on Arbitrum and 30m on Ethereum) from Abracadabra community to bootstrap the lending pool, further enhancing MIM’s ability to interact with other DeFi protocols and assets. dForce is happy to support to MIM on BSC when Abracadabra is ready to deploy the token contract.

We hope to build a solid partnership with Abracadabra community to accelerate the multi-chain expansion for both projects together.

Proposal

Deploy 60m MIM (30m on Arbitrum, 30m on Ethereum) as initial liquidity to bootstrap the lending pool on dForce

7 Likes
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Support dForce protocol to access MIM. At the same time, the access to ecological MIM will provide support, and the two sides will cooperate with each other for a win-win situation.

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Yeah, support this proposal, I like dForce protocol, it is easy to use. And now, they are growing fast, hope the new cooperation can make both two grow faster.

2 Likes
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Support this proposal. dForce lending protocol is easy to understand and use, I love it.

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support! I hope dforce is getting better and better!

1 Like
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Abracadabra is not an investment DAO which bootstraps MIM liquidity in this sense, due to this I don’t see a feasibility of Abracadabra coming up with this liquidity. This proposal here is more of a request for users of MIM to use dForce.

If dForce opens up lending/borrowing for MIM, I think the community would highly appreciate this and use this, public marketing with a retweet or so can of course also be done.

3 Likes
7

Exactly like squirrel said,

Due to the nature of the protocol only the users can provide the MIM liquidity.

If a solid economically and mutually beneficial proposal is put forward I don’t see why the community won’t assist by adding liquidity.

1 Like
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support! I hope dforce is getting better and better!

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dForce is a strong lending platform with a variety of offerings.
Please make sure this happens guys.

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Support dForce protocol to access MIM