[GIP-204] Collaboration with Threshold on TBTC Pool
AI summary
This proposal seeks to establish a collaboration between Gearbox and Threshold to launch and incentivize a new TBTC (Threshold Bitcoin) lending pool on the Gearbox platform. Threshold will contribute 4 TBTC and $22,500 in incentives. Gearbox will convert 3 WBTC (Wrapped Bitcoin) from its treasury into TBTC, deposit it into the new pool, and allocate $22,500 worth of its native GEAR tokens (approximately 3.4 million tokens) as additional incentives. Both parties will also co-market the pool to attract users.
If passed, Gearbox will diversify its Bitcoin-related offerings beyond WBTC, potentially reducing risk associated with a single asset. Users will gain a new option to earn yield on their Bitcoin and engage in decentralized finance (DeFi) strategies using TBTC. The Gearbox treasury will spend $22,500 in GEAR tokens and convert 3 WBTC into TBTC, while Threshold will contribute 4 TBTC and $22,500.
Voting results
🐳 Whale votes
0 votes > 5% VPFull proposal
Summary
This proposal seeks approval to start a collaboration with Threshold (the project behind TBTC). The outline of this collaboration is as follows:
- Threshold will allocate 4 TBTC and offer $22.5k in incentives to the new TBTC pool that Gearbox will list on the 27th of January 2025.
- Gearbox will convert the 3 WBTC currently in the treasury multisig to TBTC and deposit it into the TBTC pool, and allocate $22.5k GEAR tokens (3.4m at current prices) as incentives for the pool.
- Both parties will co-market this new pool as a way for BTC holders to earn passive yields - this will then …