Proposal: Strengthening PoolTogether’s Alignment with Across Protocol

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Proposal: Strengthening PoolTogether’s Alignment with Across Protocol

Summary
This proposal seeks to deepen PoolTogether’s integration with Across Protocol by:

  1. Integrating Across directly into the PoolTogether UI for seamless cross-chain bridging.
  2. Purchasing $100,000 worth of ACX tokens to be held by the PoolTogether treasury.
  3. Leveraging the acquired ACX to enable PoolTogether participation in Across governance.

This strategic move will align PoolTogether with one of its most supportive partners, boost treasury diversification, and enhance cross-chain capabilities.

Rationale for Strengthening the Partnership with Across Protocol

  1. Market Opportunity
    Across Protocol has demonstrated significant growth potential, with its Fully Diluted Valuation (FDV) sitting below $500 million compared to its top competitor, LayerZero (ZRO), which boasts an FDV of ~$5 billion.
  • Across’s valuation highlights a potential for upward market alignment, presenting an opportunity for PoolTogether to capitalize on this growth.
  • Across has secured integration into Uniswap for cross-chain swapping and is actively collaborating with Uniswap on the development of ERC-7683, a new Ethereum standard.
  • Across has teased another major partnership comparable to Uniswap, signaling further growth and adoption in the near future.
  1. Existing Synergies
  • The founder of Across and UMA, Hart Lambur, recently purchased 17,000 POOL and added it to the Across POOL LP to support PoolTogether’s bridging liquidity.
  • PoolTogether has an active proposal to allocate 200,000 POOL to the Across POOL LP, further reinforcing this partnership.
  • PoolTogether treasury earns POOL through bridging fees, and this mechanism has already proven effective in driving cross-chain arbitrage and boosting PoolTogether’s growth.
  1. Mutual Benefits
  • Across has played a crucial role in PoolTogether’s cross-chain arbitrage success, helping drive activity and volumes across the protocol.
  • Strengthening this partnership will provide PoolTogether with access to Across governance, allowing us to influence decisions that can further benefit our ecosystem.

Proposal Details

  1. Integrate Across into the PoolTogether UI
  • Enhance user experience by integrating Across directly into the PoolTogether interface.
  • Simplify cross-chain bridging for users, making PoolTogether more accessible and user-friendly for participants across multiple chains.
  1. Purchase $100,000 in ACX Tokens for the Treasury
  • Allocate $100,000 from the PoolTogether treasury to purchase ACX tokens.
  • This investment diversifies the treasury and aligns PoolTogether with a partner poised for growth.
  1. Utilize ACX for Across Governance Participation
  • Hold the acquired ACX tokens to gain voting power in Across governance.
  • Actively participate in shaping Across’s development and strategy to ensure continued alignment with PoolTogether’s goals.

Strategic Benefits

  1. Enhanced Protocol Synergy: Deeper integration with Across strengthens PoolTogether’s cross-chain capabilities, ensuring seamless user experiences and boosting protocol efficiency.
  2. Treasury Diversification: The ACX purchase positions PoolTogether to benefit from Across’s potential growth, while holding voting power aligns governance interests.
  3. Long-Term Growth: By aligning with a rapidly growing protocol like Across, PoolTogether positions itself to capture market share as DeFi continues expanding cross-chain.

Implementation Plan

  1. UI Integration: Collaborate with Across to implement its bridging functionality into PoolTogether’s user interface within the next development cycle.
  2. ACX Purchase: Execute a $100,000 purchase of ACX tokens upon proposal approval.
  3. Governance Participation: Establish a PoolTogether governance team responsible for participating in Across governance discussions and voting initiatives.

Conclusion
This proposal enhances PoolTogether’s cross-chain capabilities, diversifies its treasury, and secures a strategic governance position in Across Protocol. By solidifying this partnership, PoolTogether not only aligns with a proven contributor to its recent success but also positions itself to capture future growth in the evolving DeFi landscape.

1 Like
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I remember the last time Tuna suggested we diversify our treasury and it was absolutely the right call. Across is good value at this market rate. I trust his judgment. Across has been great to us and I would love to return the favor, materially. I use Across and PT hand in hand. This would be an awesome way to elevate our partnership. It also excites me personally and really resonates with me.

That’s a vote of confidence if I’ve ever seen one. Let’s build on this.

We should return the goodwill and partner with our best supporter. Across is an s-tier protocol that has been with us since Day 1. This is a no-brainer YES for me. It’s a mutually beneficial partnership that builds on an already great foundation.

Thank you Tuna for putting this together and being a PT champion at Across since Day 1. It clearly resonated with them, and I’m all for it. This is such a fantastic idea. It’s financially sound and has all the good vibes required.