With the recent snapshot vote of BIP-80 passing, BottoDAO is excited to announce a new strategic collaboration with The DeFi Collective (TDC), a non-profit dedicated to supporting decentralized finance.
Together, we've launched a BOTTO/BOLD liquidity pool on Aerodrome (Base) — furthering Botto’s expansion into the Base ecosystem and strengthening our long-term liquidity strategy.
TDC is a non-profit organization harnessing relevant on-chain and off-chain resources to support decentralized finance (DeFi) on its mission to transform financial services into a secure, transparent and inclusive public infrastructure. BOLD is Liquity V2's decentralized stablecoin built on Ethereum. BOLD is censorship resistant, immutable, and permissionless; accordingly, it's been characterized as The Ethereum Dollar.
This collaboration reflects BottoDAO’s ethos of thoughtful partnerships that amplify accessibility of the $BOTTO token beyond Mainnet, expanding our presence on Base, and working alongside Liquity and TDC to promote stable BOTTO liquidity with BOLD as an anchor.
The Specifics
To get the ball rolling, BottoDAO has subsidized $25,000 worth of BOTTO for TDC to seed the initial BOTTO/BOLD pool. These funds have been reallocated from Botto's mainnet protocol owned liquidity. TDC have matched this $25,000 with BOLD to kickstart pool operations.
The pool is designed to serve as a powerful companion to the DAO's mainnet POL, enabling more cross-chain strategy and real-time interactions with a wider stablecoin userbase thanks to Coinbase's recent integration of trades for tokens on Base directly via the Coinbase app.
The fee tier for the proposed BOTTO + BOLD pool on Aerodrome would be set at 0.3% as a basic volatile pool. TDC are committing 20% of the BOLD it receives from its Liquity V2 PIL initiative that's allocated to Aerodrome bribes weekly for the BOTTO + BOLD pool, forever. This commitment will not change even as TDC begins supporting additional pools on Aerodrome in the future.
Furthermore, TDC are committing 100K veAERO of its voting power on Aerodrome to support the BOTTO + BOLD pool with votes weekly, forever. This commitment will also not change even if TDC supports additional pools on Aerodrome in the future. With this baseline veAERO commitment, a steady stream of weekly AERO rewards to LPs in the pool will be sustained.
