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Mariam proposed an updated project, Angle Protocol, aiming to introduce a Euro and Real-World Asset (RWA) based yield source on Arbitrum using stEUR. The proposal, which requests a grant between 200,000 $ARB and 700,000 $ARB, has received mixed reactions from the community due to concerns about the large amount of ARB being used to incentivize a single token's liquidity.
The discussion revolves around a proposal by Mariam for an updated project named Angle Protocol1. The project aims to introduce a Euro and Real-World Asset (RWA) based yield source on Arbitrum, a Layer 2 (L2) solution, through the use of stEUR (staked agEUR)1. The proposal requests a grant between 200,000 $ARB and 700,000 $ARB to incentivize various pools from November 2023 to January 20241. The grant will be used to deploy stEUR and native agEUR staking on Arbitrum, add $ARB as a token to mint agEUR natively on Arbitrum, and work on use cases and integration for stEUR1. The proposal also includes a three-month plan for the deployment of stEUR on Arbitrum, with specific goals for each month1.
The community has shown a mixed reaction to the proposal. While some users, such as Thecryptostakr, Abeltherebel, and Strategicreserve, have expressed support for the proposal, citing the team's transparency and the potential for the project to consolidate Arbitrum as the Ethereum L2 DeFi hub9,10,11, others like Meyaf320219 have expressed concerns about the large amount of ARB being used to incentivize the liquidity of a single token2. However, after Mariam revised the draft proposal to include native Arbitrum protocols and revised the size of the request7, Meyaf320219 found the revised amount to be more reasonable8.
The proposal is seen as positive due to its potential to foster growth and innovation within the Arbitrum ecosystem1. The introduction of a Euro and RWA based yield source would make Arbitrum the first L2 to provide such an opportunity, increasing Euro liquidity on Arbitrum and enhancing the diversity of stablecoins and currencies in the Defi ecosystem1. The proposal also includes further building on Arbitrum on Angle’s part, including adding $ARB as collateral to mint agEUR3. The team's responsiveness to community feedback and their willingness to revise their proposal based on suggestions have also been appreciated7,10.
The main concern raised by the community is the large amount of ARB being used to incentivize the liquidity of a single token2. Some users have questioned why the proposal does not take into account any other Arbitrum protocols2. However, these concerns have been addressed by Mariam, who clarified the scope and value of the program for Arbitrum, the amount requested, and the inclusion of other Arbitrum builders3.
Posted 2 months ago
Last reply 2 months ago
Summary updated 24 days ago
Last updated 03/12 08:01