Introduction
This proposal requests that the Stargate DAO approve the deployment of both native ETH and USDC pool on Plume.
About Plume
Plume is the first purpose-built chain & ecosystem designed to bring the real world onchain. We’ve built a full stack ecosystem that enables truly permissionless RWAs that embed within a composable ecosystem of applications designed for RWAfi.
Our technology makes Plume both the easiest place to bring anything from the real world onchain (both physical assets via our tokenization engine as well as synthetics) and also the best place to transact in RWAs.
Through the integration of tooling, ecosystem, users & liquidity we are building the only DeFi like ecosystem around RWAs where crypto natives can interact with RWAs in a crypto native way. This is highlighted in our 8 week testnet where we had over 3.75M+ active addresses perform over 260M+ transactions onchain. In tandem we’ve built the largest & most engaged RWA community with over 550K+ followers on Twitter, 350K+ on Discord, and more.
Plume has recently announced a successful 30M USD series A fundraising from strong investors like Brevan Howard, Galaxy Digital, Haun, Superscript, Faction, Archetype, Hashkey and others. Our team comes from Coinbase, Robinhood, LayerZero, Binance, Galaxy, dYdX, and several other category defining companies that gives us a distinct advantage to finally bring this market onchain.
Recent strategic investors include LayerZero Catalyst and YZi Labs.
Motivation
Plume aims to build a long-term collaboration with Stargate as we strive to continue being core builders within the LayerZero ecosystem. We have been amongst the first to adopt lzRead. For strategic alignment, Plume will adopt Hydra USDT and USDC.
Stargate launching on Plume will help bootstrap the liquidity flywheel for RWA use cases within Plume’s ecosystem, which will cement Stargate as the top bridge of choice for users and drive meaningful success for a key Hydra chain.
Proposal
We propose that Stargate launches on Plume with native ETH and USDC pools. Incentives should be provided to the pool per SIP23. The initial liquidity for this pool is proposed to be provided by the Stargate DAO but Plume will be open to seeding liquidity and providing incentives to attract LPs.
Plume has strategically partnered with key Stargate partners such as Enso in preparation for upcoming campaigns in collaboration with Royco, Plume will aim to allocate incentives via points and liquid token boosts depending on market conditions to build deeper liquidity through Stargate on these pools.
Conclusion
Plume is the fastest-growing RWA ecosystem priming to launch in the new year. We see key strategic advantages for Stargate in supporting Plume by deploying an ETH pool on a key Hydra chain.