Adding a sett vault for RenBTC via Ellipsis (BIP Edition)

Hello Everyone, I would like to get everyone thoughts on adding a potential protocol to interact with badger in the Binance Smart Chain.

For those unfamiliar, Ellipsis is an authorized fork of Curve Finance. Via their medium they will be adding RenBTC to their ecosystem.

(Ellipsis Roadmap 2021 and first airdrop | by Ellipsis.finance | Mar, 2021 | Medium )

I believe there is less risk apposed to other protocols of the ecosystem with Ellipsis since they have the blessing of the core team of CRV. to add another layer they will be added to the centralized exchange Hotbit.

If the dao were to add sett strategies to incentivize the ecosystem I believe this will be a great opportunity to expand Badger’s footprint in the BSC ecosystem.

Along with this Ellipsis is airdropping monthly to vCRV holders. I also propose that any airdrop the dao receives from holding vCRV it is compounded back into the sett vault within the app

8 Likes

As someone who is currently using Popsicle finance and seeing the increase in interest of Curve stakers, this would be beneficial for our highest TVL SETTS.

3 Likes

I too am in popsicle and watched almost 40 million come into a vault within a few hours. Once RenBTC comes to Ellipsis, it & Pancake Swap will be THE place for btc on BSC.

Ellipsis seems to be a solid project with lots of support from whales and blue chip protocols. Definitely would support an incentivized vault strategy on Ellipsis.

1 Like

Given the massive rise in TLV on BSC and Ellipsis I think this is a good idea. The low fees on BSC will allow more retail investors to get involved with Badger.

2 Likes

Great idea. Would support it 100%

1 Like

Agree with all the statements above (and can also verify the Popsicle anecdotes) - would love to see this happen!

1 Like

Thanks everyone for the positive feedback, I don’t think this would qualify has a BIP but would love to get more eyes on this. any way we can share to make this happen would be awesome. I mentioned it to Chris on the clubhouse call the other day and I think he said they were in talks with Ellipsis. If anyone can get the team to verify that would be awesome!

I like the idea of the partnership and think badger should be focused on being the lords of all bitcoin bridging.

Creating deep LP for btc that can be bridged would be great. The problem is, we need a much better business proposal. Elipses is part of this picture, but we have lots of liquidity to bring, and no desire to just hand out badger emissions to other projects unless it builds a durable stream of revenue for us.

So if ellipses has a token that’s worth a lot, and we can take some ellipsis and some ren, and some bader and create a staking pool for renbtc/bbtc liquiidty pool and then make a set on top of that which pays a bit of all 3 over a long period of time, that’s interesting. The only way it stays interesting is if ren becomes the token with the best liquidity to bridge bitcoin accross, and there is a good bridge in place.

I’ve also been thinking about a strategy around this stuff, but it involves more than one player or pool. You need to both create the liquidity, and the volume somehow.

1 Like

Great points throughout, The thing with EPS , its still early. It has a 90 day lockup. Once that lockup is over I’m guessing there will be a massive dump. On top of this there’s the airdrop for VeCrv holders. RenBTC is interesting, in that Ecosystem BTCB seems to be the mostly widely used. The revenue steam can come in depending if the DAO has CRV and is willing to lock up. the emissions we would get for that may be enough but I am not sure on this point.

hey so I hve looked more into ellipsis now and have some personal money invested, but their bitcoin pools really don’t pay all that well.

The reward APR is higher than its Curve counterpart and we have vaults for that.

1 Like