Proposal for co-incentivised Curve pools on Arbitrum with stTBY

Summary/Scope

Proposal for co-incentivised Curve pools on Arbitrum with stTBY

Target Pool Size: $5M
Target Pool Yields: 20% APR
Required Incentives: $1M
Abracadabra Contributions: 500k SPELL

StakeUp Contribution: 500k SUP
Abracadabra startup liquidity contribution: $75k

What is stTBY

stTBY is a stablecoin backed by over-collateralized TBYs, benefiting from daily rebasing and Swiss DLT backing, ensuring transparency and security. It’s redeemable 1:1 for USDC, stTBY operates on a decentralized model, with all fees distributed to $SUP token holders. The $SUP token, integral to the stTBY ecosystem, is non-upgradeable, promoting fair distribution through liquidity contributions. This model aligns economically with users, offering a non-greedy, user-centric stablecoin solution in the crypto space, resistant to shutdowns.

Reference

Documentation & Wiki

Github: GitHub - Blueberryfi/Bloom-protocol
Audits: docs.bloom.garden
stTBY: stTBY Product Docs - stTBY Product Docs
Market data
TBY TVL: $2.1M - TBY APR: 4.7% stTBY APR: 5%
Social links
Twitter: https://twitter.com/blueberryFDN
Discord: discord.gg/blueberry

Main Objective of Market Proposal
Motivation for Proposal: How does this proposal provide beneficial and sustainable opportunity for both users of the market Abracadabra vested individuals?

Establishing a co-incentivized MIM/stTBY liquidity pool on Arbitrum can increase yield farming opportunities for MIM holders. The Pool includes stTBY’s native APR of 5% and its redeemability for USDC stablecoin, aims to reduce costs linked to maintaining MIM’s peg. This approach could also potentially lower the borrowing costs of DAO, offering a more attractive yield farming opportunity.

Contact Information