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Timeswap, the first Oracleless lending & borrowing protocol in DeFi, has proposed a grant of 200,000 ARB to create money markets for any ERC-20 / ERC-4626 token pair, receiving largely positive community feedback for its innovative approach and potential to improve capital efficiency. However, some concerns were raised about the grant amount, suggesting it should align with the STIP recommendations, which is below 200k.
Timeswap, a project introduced by Ameeth, is the first Oracleless lending & borrowing protocol in DeFi that allows the creation of money markets for any ERC-20 / ERC-4626 token pair in a secure manner1. The project requested a grant of 200,000 ARB, which will be matched with $400,000 in TIME tokens, with a minimum of 1% of the total TIME token supply to be distributed on the Arbitrum network during phase 1 of pre-mine, from October 2023 to January 20241. The grant will be allocated as follows: 40% to ARB markets, 30% to ETH markets, and 30% to other markets1.
The community has largely reacted positively to the Timeswap proposal. Users such as Medusa, Traderjoe, EynSoph, George_WG, Sonic_level, and Apoorv9 expressed their support for the proposal, highlighting its innovative approach to money markets, its potential to improve capital efficiency and utility for various tokens, and its alignment with the growth and security goals of the Arbitrum ecosystem3,4,5,6,7,9. However, SEEDGov questioned the requested amount for the grant, suggesting that it should be in line with the recommendations for the STIP, which is below 200k8.
The Timeswap project is seen as a positive development due to its innovative approach to DeFi money markets. It is the first Oracleless lending & borrowing protocol in DeFi that allows the creation of money markets for any ERC-20 / ERC-4626 token pair in a secure manner. This will unlock capital, boost capital efficiency, and bring additional utility to tokens. By incentivising deep liquidity in Timeswap pools, users are secure from oracle manipulation attacks and it enables large transactions, leading to greater overall capital efficiency1.
The only negative aspect raised was by SEEDGov, who questioned the requested amount for the grant, suggesting that it should be in line with the recommendations for the STIP, which is below 200k8. However, Ameeth responded to this concern by stating that they are open to amending the request and provided context around the numbers, including their peak TVL on the Arbitrum network and the volumes they achieved in lending & borrowing without any token incentives11.
Posted 2 months ago
Last reply 2 months ago
Summary updated 24 days ago
Last updated 03/12 08:01