SIP-X: Add Layer2DAO on the veSDL Whitelist

Summary

This proposal is to add the Layer2DAO Multisig and relevant contracts to the veSDL Whitelist.

Abstract

This SIP seeks to add the Layer2DAO Multisig to the veSDL whitelist. Allowing them to lock $SDL, participate in governance, and build products that utilize the vote escrow mechanism.

Background

Ethereum Layer 2 scaling solutions present an enormous opportunity for Saddle to capture new users, TVL, and market share in the crypto ecosystem. The Layer2DAO ($L2DAO) is a protocol focused on encouraging and supporting projects like Saddle Finance, with similar values of increasing Web3 user adoption.

Motivation

L2DAO has demonstrated they have a strong interest in aligning and building a long-term mutually beneficial relationship between Saddle Finance and the Layer2DAO. The visions and values of the DAOs align very closely and there is immense potential for synergistic benefits to come from partnering. L2DAO has been acquiring $SDL on the open market with intent to lock and participate in gauges – and with plans to bring Convex-like ve-token yield aggregator strategies to L2; Whitelisting the Layer2DAO Multisig and required contracts gives those protocols supported by Saddle the opportunity to grab more $SDL emissions for their communities in gauge votes [via bribing]. This change will likely increase the utility of the $SDL token by giving lockers a way to automatically optimize yield and a means to earn additional yield from protocols willing to pay for their influence.

Specification

This SIP will enable the Layer2DAO to create a yield-optimizer that benefits $SDL token holders and creates a strong market dynamic/incentive to lock $SDL, a key measurement of protocol success.

Queue up a Multisig transaction Whitelisting:

For: Add the following contracts to the veSDL Whitelist:

Layer2DAO Multisig: 0x634EAbE7C03Bcf701a5FF3C0510E9AcB2d5F5196

Layer2DAO SDL Voter Proxy: 0x882094c153d83da48df9660e7470a478199f1bd5

Against: No change.

Poll:

  • For

  • Against

0 voters

14 Likes

Will be next the season ehtereum in the world #L2

2 Likes

Whooop whoop #L222!

Saddle can lead the way on Ethereum #L2s.

So exciting to all be happening with the merge just right around the corner!

4 Likes

The merge between Layer2Dao and SIP would probably be the best combo ever and with the incoming transition from proof of works to proof of stake would bring out the best possible outcome.

3 Likes

This proposal is awesome because it will help L2 to flourish and Saddle will be riding the wave as L2 DAO continues to vote for L2 pools! As both grow Saddle & L2 DAO will be able to contribute more to the future of DeFi.

1 Like

I support this proposal because it increases ecosystem diversity with Layer2DAO and creates high-yield opportunities for the Saddle community. After the merge, Ethereum Layer 2 rollups will be the primary focus of Ethereum development.

2 Likes

“After the merge, Ethereum Layer 2 rollups will be the primary focus of Ethereum development”

So well said…! Huge opportunity exists for Saddle to capture TVL, and bring capital, to L2s through this!

2 Likes

true ! we need this asap. lot of opportunities are for L2Dao

2 Likes

Great ideas and work Layer2DAO Team!

A resounding “YES” from TheWiseBull…

3 Likes

Supporting this project because it’s super mutually beneficial to the Saddle and Layer2DAO communities.

3 Likes

L2DAO x Saddle could be the birth of something phenomenal

2 Likes

A new era is loading on Layer2.

1 Like

Did Layer2DAO bridge the SDL they acquired on the Arbitrum network to the ETH network?

What products has Layer2DAO built on Layer2’s.

1 Like

Indeed they did!

The Investment DAO purchased $SDL OTC on Arbitrum via Hedgey Finance and sent all of it to Mainnet - however there is a 7 day waiting period on this. The details were announced in the community Discord though as well if you are interested in more info!

As far as projects from L2DAO…several…an ERC-20 token for governance and utility, the largest NFT collection on L2, and some others… a lot is cooking, with the biggest ones to be launched soon!!!

1 Like