SIP-X: Deploy Saddle to Kava

Summary

Deploy Saddle 2pool (USDC + USDT) to Kava testnet and mainnet.

Motivation

Kava is a IBC-enabled blockchain, currently with over $600m in TVL, and with a market cap of over $730m. In May the Kava team will launch a new EVM compatible blockchain, utilizing the same validators as the IBC-enabled chain. As a part of this new EVM-compatible chain, Kava has two programs to incentivize protocol deployments. Saddle stands to gain from a deployment by acquiring:

  • Our pro-rata share of 100k Kava incentives if Saddle deploys before mainnet launch as a part of Kava’s Pioneer Program, and
  • Our pro-rata share of the $750m developer fund paid out to the top 100 protocols by TVL over 4 years as a part of the Kava Rise program.

Discussions with the team have informed us that there are currently no other StableSwap providers planning to deploy to Kava. Furthermore, both rewards will help attract liquidity without the need to emit extra SDL tokens. This provides a unique asymmetric opportunity for Saddle to attract new liquidity with little risk of SDL emissions.

Specification

Deploy Saddle to Kava testnet and mainnet initially with 2pool (USDC + USDT) using the Kava incentives from both the Pioneer and Rise programs to incentivize liquidity. A further governance proposal to deploy SDL emissions on top of Kava incentives may follow pending an assessment of the success of the EVM-compatible Kava blockchain.

For: Deploy Saddle to Kava’s EVM-compatible testnnet and mainnet with 2pool using Kava incentives as the initial liquidity mining incentives.

Against: No change.

Poll:

  • For
  • Against

0 voters

2 Likes

Great proposal, this will go a long way, happy to see the new development

1 Like

Great suggestion that I think should be implemented

With Kava 10 going live today; does Saddle need to be officially on Kava?! I will ping in Discord too; just realized you can now sign in with Discord in the forum here, what a nice feature :slight_smile: