Integration Proposal - LightLink

New Chain Deployments
1

The LightLink Foundation proposes a strategic partnership between LightLink, the gasless blockchain network, and Stargate v2, aiming to enhance cross-chain functionality and DeFi solutions within the blockchain ecosystem. The integration involves launching Stargate v2 on LightLink, supported by liquidity and incentive programs, including a 4,000,000 LL token allocation and a marketing campaign to boost visibility and adoption. The partnership promises to strengthen both platforms’ positions in the DeFi market by increasing cross-chain liquidity, transaction volume, and ecosystem growth, inviting Stargate DAO members to approve the initiative for future growth and innovation.

Background:

LightLink is an Ethereum Layer 2 blockchain that lets dApps and enterprises offer users instant, gasless transactions. As the first L2 to leverage Optimium architecture with a proprietary stack, LightLink aims to support 10,000+ TPS at under $0.01, without gas spikes.

LightLink’s novel Enterprise Mode enables businesses to operate gas-free, allowing users on their platforms to engage in a secure, user-friendly blockchain network without transaction fees, barriers to entry, or the need for any tokens. LightLink already powers over 30 partnerships, including Animoca Brands, and is being integrated in Translucia, a US$300 million venture by T&B Media Global.

Additionally, LightLink has built a community of over 200,000 members and achieved more than 100,000 daily transactions since the Mainnet launch in October 2023.

Opportunity:

The integration with Stargate v2 offers a unique opportunity to leverage LightLink’s technological leadership and massive user base. LightLink will introduce Hydra assets USDC and USDT in order to bring stablecoin availability cross-chain; we anticipate that these assets will be the de facto variants of USDC and USDT utilized throughout our ecosystem.

Stargate’s advanced bridging solutions, combined with LightLink’s liquidity and EVM-equivalent DeFi and GameFi opportunities as well as access to Enterprise Mode clients, can significantly enhance cross-chain functionality across the blockchain ecosystem.

Proposal Details:

Integration: Launch of Stargate v2 on LightLink Chain as a launch partner with immediate liquidity and incentive availability for ETH.

Liquidity Support: LightLink is able to supply 100 ETH of LightLink Foundation supplied liquidity

Incentive Program:

  • LightLink is willing to provide 4,000,000 LL tokens as incentives for liquidity provisioning.
  • Stargate to provide roughly equivalent value of STG tokens as backup LP incentives, specifically 250,000 STG tokens.
  • In case LL token incentives are depleted we can then fall back on STG tokens to be used as incentives. If this were to arise then Stargate to discuss with LightLink the possibility of providing additional LL tokens for LP incentives.
  • In the case both STG & LL token incentives are depleted then Stargate can wind down LightLink ETH LP incentive, to continue supporting LightLink ETH bridging with additional STG incentives Stargate DAO may conduct another vote.

As for end users who will be bridging to and from LL, they are able to participate in the LightLink Community Rewards campaign, as well as access to the Proof of Liquidity campaign being run on LightLink’s DeFi applications will grant access to the Node Validator NFT program later in the year.

Marketing Campaign: An extensive campaign to highlight Stargate v2’s integration with LightLink, emphasizing the benefits of enhanced cross chain and interconnectivity capabilities. This campaign aims to bolster both platforms’ visibility and adoption in the broader blockchain ecosystem.

Benefits:

This strategic partnership promises to deliver benefits including:

  • Enhanced cross-chain liquidity and asset bridging capabilities.
  • Increased transaction volume and ecosystem growth for both Stargate and LightLink.
  • Strengthened position in the DeFi market through innovative EVM Layer 2 DeFi solutions.
  • Expansive marketing and community engagement efforts, promoting wider adoption and recognition.

Execution & Timeline:

  • Immediate Steps: Formal approval of the proposal by respective DAOs.
  • Liquidity Pool Launch: Coordinated launch upon proposal acceptance, with detailed timelines to be announced.
  • Marketing Campaign Rollout: Commencing immediately post-approval to maximize exposure and user engagement.

Conclusion:

This proposal represents a strategic initiative to harness the strengths of both Stargate and LightLink Chain, facilitating a leap forward in the interoperability and functionality of DeFi. Stargate DAO members are invited to endorse this partnership, unlocking new dimensions of growth and innovation.

Participation:

All DAO members are encouraged to actively participate in this pivotal decision, ensuring collaborative efforts reflect the community’s vision and ambition.

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2

Hi Dan,

  1. Incentive Program: Once we ran out of the 4,000,000 LL tokens as incentive, wonder if it’s possible for LightLink to provide more LL tokens?
  2. Liquidity Support: Wonder if it’s possible for LightLink to provide more ETH, so those 4,000,000 LL incentive can last longer
3

Hi @SendokGarpu,

We have an ecosystem fund which has regular emissions of LL tokens, so we could most certainly look to provision additional tokens for incentivising the LightLink LP.

We can certainly consider provisioning more ETH as well, if we see that the pool is inadequate.

2 Likes
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Understood, the background is, we need to decide what we’ll do once we ran out of LL token incentives. I propose:

  1. Stargate to provide roughly equivalent value of STG tokens as backup LP incentives, specifically 250,000 STG tokens.
  2. In case we run out of LL token incentives. STG token are to be used as incentives. Also, Stargate to discuss with LightLink, for possibility of providing additional LL tokens for LP incentives.
  3. In case we run out of both STG & LL token incentives. Stargate to wind down LightLink ETH LP incentives.
  4. To continue supporting LightLink ETH bridging with additional STG incentives, Stargate DAO must conduct another vote.

Wonder if you/anyone have any concern? If not, can you help including these in the proposal as well?

Understood, then I think we can keep it as 100 ETH for now? Later can get in touch with Stargate Foundation directly to discuss this.

I have enough veSTG to post on Snapshot, later I’ll try posting it once everything is ok.

Wonder if you have any deadline in mind, may I know when are you planning to deploy the Hydra USDC/USDT?

5

Hi @SendokGarpu,

Thank you for your idea, I think it is a good plan and have included this in the original proposal.

We would greatly appreciate you posting this to Snapshot to move ahead with.

We are working directly with the Stargate team to deploy Hydra USDC and USDT contracts later this week (16th-18th October), with the front-end to be made available the following week (Week commencing 21st October).

We would like to move ahead with this as quickly as possible, as we have decommissioned our last bridging solution (deBridge) and no longer have a fast path for ETH to and from the network.

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Got it, I have posted this proposal on Snapshot, voting should be concluded in 4 days.

Hi @Hazbobo wonder if you can help with announcing the Snapshot proposal in our discord?

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