Summary
This is a proposal to launch a new Turbo&Stable fund for STONE on Scroll.
Project Description:
What is StakeStone:
StakeStone is an omnichain liquidity asset protocol building an adaptive staking network for liquid ETH/BTC. Through its yield-bearing asset, STONE/STONEBTC, it allows for asset staking beyond the traditional consensus layer. It is fully decentralized, has multi-underlying asset compatibility, automatic yield optimization, and maximizes capital efficiency for the crypto space.
Fund Specifications:
Underlying Asset: STONE
Chain: Scroll
Multiplier:
Newcomers: 2X (STONE in LP will receive 2X points, Turbo will receive 20X)
Fund 1 participants: 2.5X (STONE in LP will receive 2.5X points, Turbo will receive 25X)
Interest rate for Stable: 6%
Duration: Four months
Protocols: The underlying is generated based on two protocols: StakeStone / Tranchess
Motivation:
STONE (StakeStone) has garnered massive interest in the first fund and would like to move into the second fund with Tranchess.
Tranchess, as one of the first protocols to explore STONE on Scroll, would like to explore the liquid staking potential of Ethereum while bringing additional yield and benefits for our users and veCHESS holders. Launching a second ETH liquid staking token fund is for us to show support to the ETHFi narrative. It also sets a solid foundation for future collaborations with STONE as we continue to explore innovative solutions and strengthen our strategic partnership.
If this proposal is approved, we will launch Season 2 for the current STONE fund, which will overlap with the current one for a few days so users can move funds between them.
References/Useful links:
Website: https://stakestone.io/
Documentation: Introduction | StakeStone
Audit: Audits & Security | StakeStone
Snapshot voting will be up till 02:00 UTC, Oct. 4, 2024. All veCHESS on BNB Chain and Ethereum before&when the Snapshot voting starts will be eligible for voting.