Bridge agEUR to Fantom. Open new market for agEUR

Ideas
1

Proposal:

  • Bridge agEUR to fantom as the next step to bring liquid Euro stablecoin to other chains. Unlike polygon, there is more lending protocols on fantom. That would bring more utility to agEUR, if it was deployed in one of the lending protocols. One simple USDC/agEUR pair on quickswap doesn’t really give any flexibility to agEUR.
  • Scream.sh is a perfect match. There are 15 assets on Scream and 8 of them are stablecoins, which all are pegged to US dollar. Average total borrowed value of stablecoin on scream is higher, than 50%, which is great. I’m sure this integration will be beneficial to both protocols, so Angle team needs to get in contact with them asap.
  • There are also zero Euro stablecoins on curve and spookyswap, which gives Angle special opportunity to open a new market on fantom.
  • By integrating agEUR into lending protocol, that will generate more fee revenue for LPs, as there will be much more interest for it.
2

Thanks ruski for this proposal. It’s indeed a huge opportunity for Angle I think. If you have any contact feel free to make intro, otherwise we’ll try to get in touch with these teams asap

3

Unfortunately i don’t have any contacts, but i’m sure team members will answer in their discord (スクリーム).

4

I think these will be right integrations on Fantom:

  1. Bridge to Fantom through Anyswap (Not so sure, since FRAX has chose to create their own token over time and left old anyFRAX token, so there might be better options)
  2. Spookyswap is the leading AMM on Fantom, so most people use it. It’s great and also there are many incentivized pools by Spooky itself, so it would be great, if teams works out that and agEUR pool get Incentives. For example: MAI-USDC, trueUSD-USDC.
    Also there is Spiritswap, Sushi and Curve. Curve doesn’t really seems like an option, because their V2 hasn’t been deployed into Fantom, and you can’t create a pool with two assets with different pegs. Only USD-USD or EUR-EUR.
    Screen Shot 2021-12-10 at 8.06.37 AM
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5

And in order to have decent liquidity on Scream, it will require some LPs amount. I would set a goal at $5m agEUR-USDC LP TVL. And 10-20m agEUR supply on fantom. That will be enough to comfortably lend & borrow agEUR.

Screen Shot 2021-12-10 at 8.20.30 AM
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6

Agree with it, this is a great proposal! Pushing for Anyswap to have these opportunities super soon!