[SGR] fPENDLE-LPT(agETH - 26 Dec 2024) Gauge Listing Request
- Targeted Pair: fPENDLE-LPT(agETH - 26 Dec 2024) 0xfd268d70c4446862a0fc024fb731d71f3fc5b6c4 launched on Aug-22-2024 05:46:11 PM UTC
- IBT contract address: 0xCdCc3DA8fD73CEDFa8e6927864E463b4760b320d
- Current TVL on the Pair’s liquidity: $4,500
- Current TVL as IBT: $4,500
- Underlying Token Market Cap (agETH Pendle LPT 0x6010676bc2534652ad1ef5fa8073dcf9ad7ebfbe): $25,700,000
- Twitter link:
@KelpDAO/@pendle_fi/@harvest_finance - Chain: Ethereum
- Posted by: KobraD - Harvest Finance CM
Simple summary:
This proposal suggests the introduction of a gauge for the fPENDLE-LPT(agETH - 26 Dec 2024) from Harvest Finance. This is the interest-bearing token for the Kelp Airdrop Gain vault live on Pendle.
The Kelp Airdrop Gain vault on Pendle aims to optimize airdrops by combining two strategies: earning Layer 2 (L2) airdrops and participating in mainnet DeFi opportunities. It accepts rsETH and other ETH assets as deposits, deploying them across different yield and points farms. agETH serves as the receipt token for this vault, which has an expiration date of December 26, 2024.
By providing liquidity with the Pendle LP token to the agETH-LP (26-DEC-24) vault on Harvest Finance, users can benefit from the automated compounding of the PENDLE rewards earned by the strategy.
Kelp is a platform focused on building Liquid Restaking Solutions for public blockchain networks and rsETH (with a market cap of >700M) is their LRT. Pendle is a well-known DeFi protocol that enables users to trade future yields with a TVL estimated at over 2.8B. Harvest Finance is one of the first yield-optimizing platforms, an ideal product for those seeking automated returns on their crypto.
The addition of this gauge would incentivize liquidity provision in the fPENDLE-LPT(agETH - 26 Dec 2024)-LP, making it more attractive for Kelp/Pendle/Harvest users looking to earn additional rewards. A gauge for this LP would demonstrate that Spectra can operate as a superstructure over Pendle, which is often seen as a specialist in yield derivatives, showcasing Spectra’s ability to integrate seamlessly with any DeFi building block, no matter how specialized. Additionally, integrating this gauge will showcase Spectra’s advanced capabilities to the Pendle community. Ultimately, this may represent the first step towards a productive partnership with Kelp. For all these reasons, we urge the community to support this proposal by voting to include the fPENDLE-LPT(agETH - 26 Dec 2024)-LP in Spectra’s gauge system.
Benefits of Integration for Kelp, Pendle and Harvest
- Increased Yield Opportunities: Offering more lucrative yield options for the respective communities of Kelp, Pendle and Harvest
- Exposure to Spectra: Introducing Kelp, Pendle and Harvest users to Spectra’s platform, showcasing its capabilities and encouraging broader engagement.
Benefits of this integration for Spectra
- Demonstrating Versatility: Establishing Spectra’s capability to integrate with specialized DeFi platforms like Pendle, reinforcing its role as a superstructure that can operate atop any DeFi lego.
- Strategic Partnerships: Strengthening relationships with leading platforms like Kelp and Harvest resulting in increased visibility and influence within the DeFi space.
- Attracting DeFi Users: Drawing in DeFi users looking for sophisticated yield strategies and fixed-term yield exposure, broadening the appeal of Spectra’s gauge system.
- Showcasing Capabilities: Leveraging this integration as a showcase of Spectra’s advanced features and potential, particularly to Pendle’s established user base.
Community Poll:
- Yes: Add fPENDLE-LPT(agETH - 26 Dec 2024)-LP to Spectra’s gauge system
- No: Do not add fPENDLE-LPT(agETH - 26 Dec 2024)-LP to Spectra’s gauge system
- Abstain