This proposal seeks to further the reach and utility of the ARTH token by facilitating its native deployment on two additional platforms: Base and Linea. Through this, we aspire to not just increase liquidity and adoption, but also solidify our footprint on various DEXs and Lending Protocols in the various up and coming blockchains.
- Native Deployment: Unlike traditional bridging solutions, ARTH will be natively deployed on both base and Linea, ensuring seamless operations and improved security on both platforms.
- Expand Ecosystem: Deploying ARTH on more platforms means greater accessibility.
- Increase Liquidity: A broader reach should ideally boost trading volumes for ARTH.
- Strengthen Decentralization: Being on diverse platforms fortifies ARTH’s resilience.
- User Adoption: The user bases of both Base and Linea are rapidly increasing, presenting ample opportunities for ARTH.
- Potential Airdrops: Both Base and linea don’t have their native tokens live yet. This gives an opportunity for the DAO and for it’s users to farm the upcoming airdrops.
Building on other chains allows us to tap into not just a wide and new ecosystem of partners that are openly willing to collaborate with MahaDAO, but also opens the possibility for the DAO to receive grants from these chains.
Coinbase has previously intentioned their interest in seeing inflation-proof stablecoins such as ARTH being built on their chain. This gives us an opportunity to do so.
To maintain consistency and reliability in valuation, the price feed for ARTH will be equivalent to the price feed for ETH. This ensures that users, regardless of the platform, have a consistent measure of ARTH’s value.
Which means the price of ARTH will be the same across all chains (Base, Ethereum, Linea) irrespective of which blockchain it is deployed on.
Using cross-chain protocols such as CCIP we can natively pass the pricefeed across the various chains using ETH as main source.
- Token Contract Deployment: The ARTH token contract will be deployed on base, Linea and zkSync. This will involve coding, testing, and ensuring the contracts are secure.
- Liquidity Pools: Initial liquidity pools for ARTH will be created on both platforms, aiding in its trade and utility.
- Integration: Work with both base and Linea teams to ensure smooth integration, including wallet compatibility and exchange listings.
- Awareness Campaign: Launch a campaign to inform current and potential ARTH users about its availability on base and Linea.
- Enhanced liquidity for ARTH.
- Increase in ARTH’s overall market presence.
- Improved resilience through decentralization.
- Access to new communities and potential adopters.
- Smart Contract Risks: As with any deployment, there’s a risk of vulnerabilities. This can be mitigated through thorough auditing and testing.
- Liquidity Fragmentation: There’s a potential that liquidity could be spread thin across multiple platforms. This can be managed through incentives and rebalancing strategies.
- Obtain feedback from the MahaDAO community.
- Engage with the Base and Linea teams for technical consultations.
- If approved, begin the deployment of ARTH and start testing on these chains.
The proposed deployment of ARTH on Base and Linea is a strategic move towards strengthening its position in the DeFi ecosystem. By extending its reach, we aim to deliver more value to our community and ensure ARTH’s growth and sustainability.
We would love to hear from the MahaDAO community members to provide their feedback and participate in the voting process.
- Yey. Let’s travel to Base and Linea
- Nay. Let’s stay on Ethereum.