This is a vote to make this agEUR address on Base mainnet the canonical agEUR address on the chain.
Context
Base mainnet is an Ethereum L2 built on the MIT-licensed OP Stack, in collaboration with Optimism. All necessary tooling is deployed on the chain, and essentially all existing smart contracts, developer tools, and wallets work seamlessly.
On its end, Angle has setup a bridge infrastructure relying on LayerZero that allows anyone to bridge agEUR from any of Ethereum, Polygon, Optimism, Arbitrum, Avalanche, BSC, Celo, Gnosis Chain, Polygon zkevm to any of the other chains. In some of these chains, the Borrowing module is also natively deployed.
For agEUR to become a global standard used everywhere, agEUR integration efforts should be made across all blockchains, not only those where Angle is natively deployed.
Technically anyone can deploy a version of agEUR on any chain. What makes a version of agEUR the official or canonical agEUR version on a chain is getting this agEUR version connected to the other agEUR implementations on other chains, so it’s possible to bridge from Base to Celo for instance.
Proposal
The proposal is hence to connect the agEUR implementation deployed on Base with all related addresses here to agEUR implementations on all other chains where it is supported.
Implementation
The Base agEUR implementation that was deployed is exactly the same as that of other chains. Were deployed on the chain governance multisigs with the exact same signers as what the protocol has on other chains.
Technically with what has already been deployed, it’s possible to bridge like Ethereum → Base but not the other way around. The goal of this proposal is to allow both ways bridging.
If this proposal succeeds, agEUR bridging could be supported directly through Angle Labs app.
Value to the Protocol
This is going to facilitate expansion of agEUR across the nascent Base ecosystem.
Risks
This increases the exposure of the protocol to bridge and chain hack (even though it’s unlikely that LayerZero gets hacked on like Base but not Polygon).
Also, deploying on Base itself should pose minimal risks, relative to deploying on alternate blockchains. As an Ethereum Layer 2 Solution build on the OP stack by a reputable firm, it inherits most of Optimism security mechanisms. Additionally, the deployment has been audited multiple times, by auditors including Code4rena and Sherlock. Base documentation is available here.
Voting Options
- For, deploy on Base
- Against, do nothing