Now that Interlay network and iBTC launch have been completed and we shared a DeFi roadmap overview, we’d like get your input on the next batch of pools we analysed.
The next immediate step is creating a new iBTC pool on Curve and Beamswap, and there’re a couple of combinations to mix and match.
Regarding Beamswap, we launched an off-chain voting poll to gauge your interest and results were aligned with our previous analysis. Results: INTR, DOT, multiUSDC (in that order).
Based on the results, we would like to propose different options for the pools on Curve and Beamswap, as the decision on the token pair for the pool on Beamswap would also impact the pool to be set up on Curve. We have lined up different combinations which we think would be most useful and align with the community vote. Based on internal evaluations and discussions with Beamswap, we suggest the first option, for the reasons we listed below.
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(1) iBTC/USDC (Beamswap) + iBTC/INTR/DOT (Curve)
Pros:
- One pool that serves many use cases for all tokens used in the Interlay ecosystem
- No additional bridging or protocol risk in the Curve pool
- Meta-pools can be added to the Curve pool that will allow trading of additional assets with that pool without adding any of the mentioned risks to that pool
- All tokens in the curve pool are available for liquidity provision and the pool as potential to grow with the Interlay ecosystem
Cons:
- Centralized (Circle), bridge risk (multichain bridge) in the Beamswap pool
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(2) iBTC/INTR (Beamswap) + iBTC/DOT/USDC (Curve)
Pros:
- Interlay native tokens only (Beamswap)
- Polkadot native asset (no bridging risks)
Cons:
- Centralized (Circle), bridge risk (multichain bridge) in the Curve pool
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(3) iBTC/DOT (Beamswap) + iBTC/INTR/USDC (Curve)
Same as for (2) but in a slightly different setup.
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(4) Other options / None of the above
If you have other options that you would like to propose, please leave a comment in the discussion section with your arguments for that specific option.
Some general comments we would like to share on the pools above:
- USDC could be replaced by aUSD or USDT, please indicate if other options are preferred
- Curve pools can be calibrated to have deeper liquidity (less slippage) by design compared to Uniswap V2 like pools
- Meta-pools can be set up to enable trading between a base pool (e.g. iBTC/DOT/INTR) and another token, without introducing the risk, this token bears, to the base pool. You can find more information on this in the Curve docs.
In addition to the pools above, we are explore the following, which could be added after the execution of the options above, so please leave your feedback on those options in the discussion section:
- BTC 3pool: iBTC/wBTC/renBTC
- Polkadot native pool: L1 tokens of large parachains: ACA, GLMR, INTR, PARA, ASTR
