@lejimmy proposed in proposal 165 to have $2m UST swap to Luna to incentivize UST deposit, trading, liquidity mining.
All those projects mentioned in the proposal 165 are great, I would like to further propose incentives for UST LP collaterals.
UST’s current largest form of fund deposit on Solana is LP on Saber( the stableswap DEX on Solana).
There’s about $20 Million of UST in total supplied in UST/CASH, UST/USDC in Saber, so in addition to incentivize LP mining, we can also enable UST LP collateral lending.
The only lending project on Solana support LP as collateral is Larix, they recently support Raydium’s LP pair on Larix, so you can borrow tokens against your LP! Imagine you can use UST LPs as collateral to borrow tokens, this just add up the utility of UST and also locking UST, and push the price floor of LUNA.
Timing is everything in crypto, get this going with Larix, UST will be the NO.1 decentralized stablecoin.
We need to spread UST all over Solana before Solana develop similar stablecoin, the sooner the better.
this proposal makes me swoon for you
we like the incentives
Bullish on this support thanks
I think this will be a big innovation for Solana
I like this idea, I’m mining on Larix, that’s will be great if larix can support UST
You got my 100% support on this. feasibility and timeline is most important.
I see no reason Larix will refuse to support UST LPs. Technical speaking is pretty easy for Larix to deploy another cross-chain asset, because they are supporting weWeth lending now, and their community is well educated in weWeth, will also look into UST.
How to farm with UST’s LP?
So will it help to pump LUNA?
I would be elated to see UST be available as LP lending, drives more utility
Yes, go for Larix. No problem for that imo.
In my understanding, they are decentralised lending protocol which allows the lend assets to be collateral and then you are able to borrow another or the same assets. Simple protocol.
Check this out….DYOR
This idea will be boost Luna price and I bet everyone who hold Luna will be support 100% , I impressed Larix by their security so I think it will be huge if this idea comes true, agree that time is a matter in crypto world, so why not now for incentivize UST’s LP and make it special on Solana
Having UST on larix won’t be a bad idea, more use case for UST
If UST is used as collateral, the first thing that comes to my mind is also Larix. In the cryptocurrency market I pay more attention to safety than yields .Larix has had no security issues since its launch. I believe that terra will choose a safe and reliable partner for UST holders.
I will support this if it goes to vote