We're thrilled to present a proposal for deploying Bunni's gauge system on Arbitrum ๐ ๐งก.
This exciting initiative marks the beginning of our cross-chain rollout, aiming to unlock growth opportunities for Bunni and expand our presence beyond Ethereum โจ.
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2/8 By leveraging the significant dominance of Uniswap V3 on Arbitrum, Bunni will efficiently bootstrap liquidity on Arbitrum. This will enhance usability for a broader range of protocols and products, including Timeless' yield markets.
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3/8 Your user experience on Arbitrum will mirror Ethereum, including providing liquidity & staking. A VeBeacon contract will enable veLIT boosting on Arbitrum by broadcasting your veLIT balance from Ethereum ๐
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4/8 Our efficient cross-chain approach will allow bridging of oLIT rewards from Ethereum to Arbitrum for ALL gauges in a single transaction. Only one user will need to do the bridging process once per week.โฑ๏ธ
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5/8 Redemption of oLIT on Arbitrum will be a bit different. To optimize the user-experience of bridging back to Ethereum, we propose whitelisting an oLIT/WETH gauge on Arbitrum. This will facilitate easy swapping between oLIT and WETH, while also boosting liquidity. ๐
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6/8 This is not a full-scale launch, but a crucial part of our testing phase before onboarding our launch partners. We're starting with the oLIT/WETH Arbitrum gauge to tackle potential cross-chain UX and security issues. A security audit was done by yAudit
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7/8 We kindly ask veLIT voters to cast a straightforward 'For' or 'Against' vote. Voting 'For' endorses Bunniโs cross-chain system deployment to Arbitrum as detailed above and in this post .๐ณ๏ธ
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8/8 As part of this governance proposal, we want to hear from YOU. Share your thoughts by commenting, quote tweeting or joining the discussion on our Discord server . Let's venture into the Arbiverse together! ๐ฌ
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We hope you've found this thread helpful.
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@Timeless_Fi
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Like/Retweet the first tweet below if you can:
We're thrilled to present a proposal for deploying Bunni's gauge system on Arbitrum ๐ ๐งก.
This exciting initiative marks the beginning of our cross-chain rollout, aiming to unlock growth opportunities for Bunni and expand our presence beyond Ethereum โจ.
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@Timeless_Fi
Holders of LIT that like and retweet the Arbitrum announcement tweet are eligible for an NFT!
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