Notes: Integrations Guild (Weekly Calls)

General
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Nov9th,21 Integrations Guild Call Agenda

  • Skillwallet

    • Any thoughts on how to follow on on this ? We need to give an answer.
    • “SkillWallet is a Role-Based Membership system. Choose your Market, create Roles for your DAO Members, and add the Contracts you want to track. Members will then be able to inject any existing Wallet, and pick their Role in the Community.”
    • Meeting comments:
      • No feedback right now, tools for DAO’s is a discussion for organization “guild”
      • Research further

  • Curve

    • Updates on the pool
    • How to incentivize Votes for gauge (CRV rewards) - Need to research this and come up with alternatives
    • Meeting comments:
      • Right now two large holders are voting for the Gauge. We don’t want to get too many crv rewards there rn bc of liquidity… wait until the launch for that
      • We need to work on the idea of our protocol owning voting power (CRV and/or CVX) → treasury discussion

  • Other Protocols

    • Review the list - who is up for leading contacts ?
    • Primary Focus on Lending/Borrowing (tBTC as Collateral)
    • Meeting comments:
      • Lead on Maker: Jake
      • Lead on Abracadabra, Rari : Evandro
      • Lead on Euler: MrsNuBooty
      • Any updates on Notional ? gotta ask Mo if he’s still on that
      • 88mph and Element need tBTC being on Lending protocols
      • More updates on the sheet
    • If no contact, we could use contacts of the Keep or Nu Leaders, but it should be Last Resort.

  • UMA

    • Updates about the call and next steps
      • Call with Billi, Mo & Will
      • Meeting comments:
        • Uma KPI options → probable launch mid Q1
        • We need to define which aspects are to be incentivized (e.g. Minting tBTC, running a node, etc)
        • Asked people to join the discussion, and form a working group

  • Maker

    • Updates on the proposal / next steps
      • Proposal should be ready this week
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16Nov21 - Integrations Guild Call Agenda & Notes

Curve - Vote is up

Doug - tBTC Bridge

Presentation about the Bridge

tBTC v2 Vision

1516×866 230 KB

Why tBTC Integrations ?

  • Stimulate and grow Liquidity
  • Use Cases for Users (collateral, lending/borrowing, trading)
  • DAO to DAO relationships

Relationship owners and progress:

  • Maker: Jake → Doug will speed up Keep team revision of the proposal.
  • Abracadabra and Rari: Evandro
    • Abra already contacted and info getting over. Next step bring them on the discord.
  • Notional
  • Euler: MrsNu + East, Evgeny contacted us with them.
  • Ribbon: Evgeny will contact us.
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23Nov21 - Integrations Guild Call Notes

  • Good news: the Curve, Saddle and mStable Pools are up.

  • We need to prioritize Lending Protocols rn:

    • Maker: call to review the proposal (Jake, Will and Team) and then publish it in the Maker Forum
    • Euler: we reached out to Seraphim (bad news they don’t plan to add low volume assets as collateral) although we could add it for borrowing.
    • Abra & Rari: no feedback (Evandro)

  • Arbitrum: Evandro will complete the whitelisting form, which should be send by the team.

  • Reflexer reached out to us: could be a Stable Fork alternative to Liquity (Will we include Agoristen in the convo)

  • Chainlink: Need to integrate their oracles. (East)

  • tBTC Liquidity: Ben is gathering the data for a “organized redemption plan” in order to free up Eth collateral for more tBTC minting. (Ben)

  • Tally: it would be good to have Threshold presented in one of the Tally Community calls. What is tBTC and how we could integrate it into Tally wallet. (Ask Doug if he’s up to it).

  • No updates on the other protocols (read past notes on Element, 88mph, Notional & Uma)

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7Dec21 - Integrations Guild Notes

Intro:

  • Successful integrations with Saddle, MStable, curve, all have working pools for tbtc v2
  • Integrations working with lending protocols like MakerDAO, Eulur, Abracadabra, Unity, Rari
  • Also encouraging the task force that is working on Threshold USD Stable Coin project, could use our own tBTC to mint, our own Stable Coin.

Lending Protocols:

  • Maker: Finished filling out the draft of the proposal, : best approach is to hold off on the proposal till tBTC v2 full bridge is ready to go because that will be easisest for their protocol engineers to integrate. Positive feedback and solid advice. Bring back up the integration process once the full tBTC v2 full bridge is ready.

Abracadabra : Evandro updated that Romy from Abracadabra replied, he said they are really interested in getting tBTC v2 as collateral

  • Want more feedback from their community, Start a discussion on their forum of the general overview. Need to get 1st discussion from their community, gauge their interest, etc.
  • A first proposal to post on their forum first Evandro will post info in the integrations channel for anyone who wants to help, share with the marketing guild, would be useful if more than one person joined the forum to help/discuss. Afterwards, could possibly start a channel in the Threshold Discord for communication between both teams

Other updates:

  • Evandro filled out the Arbitrum whitelist application, advised to wait on L2 conversation till Q1 of next year
  • Will - update on chat with Reflexer Finance, intro chat that was releveant to the THUSD proposal :
  • Does it make sense for us to Friendly-fork to RAI to serve as the foundation for the stable coin that is backed by tBTC, worth continuing discussion. With RAI they would want us to introduce a governance token to the THUSD system, in exchange for the fork likely some other stuff, share a portion of the governance tokens with their community, tokens would be used to incentivize liquidity being seeded into the stability pool vs taking a loan out against ourselves, which is current model being discussed, and then paying back that loan by fees accrued by THUSD, if ppl are interested in getting involved join the thUSD taskforce.
  • Ben is still working on liquidity with tBTC, proposal to have more liquidity
  • Xkyopa - reached out to Aztec posted reply in Integrations Guild - Prioritize focus on which protocols to reach out to first.

Evandro will be reaching out to Notional and AlphaHOMORA this week

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14Dec21 - Integrations Guild Notes

(h/t Jessi !)

Intro

All the Protocols we are following are listed here, open to anyone who wants to contribute Step by step process, list project on spreadsheet, understand their listing criteria, fill up spreadsheet with the criteria, within the calls we discuss the possibilities :

Abracadabra & Notional

Evandro heard back from Notional - Notional’s listing criteria is basically the same as Abra

Evandro posted the proposal for Abra that will be posted on their forum to the integrations guild channel. If anyone has anything useful to add to the tBTC v2 document, please add to it or give it a look. (using the same proposal for Notional that is used for Abra, but adapting it to fit)

Waiting on feedback from their community after posting the proposal, (gauge their interest etc, Same as from Dec 7th call notes)

  • Can look into a possible AMA with their community/collaborative opportunities in the future
  • When the proposal is posted to their forums inform the marketing guild so they can help get engagements with their communities up/show support
  • At some point ping Romy to make an integrations channel , next step would be ratification , this would be important to have the discussion direct with the team (technical convo for implementation)

B Protocol - Ramaruro - it supports liquidations for leverage positions in lending protocols, ensure lending can be done.

What they do is enable users to deposit into the backstop, pool of money used to purchase collateral that needs to be liquidated.

Chainlink - Doug - Wanted to find someone on Chainlink side to work with threshold to get price feed for tbtc – wanted to know if we were interested in 2 other services, Chainlink Keepers & CCIP

Unclear - They want some guarantee from us we wouldn’t be choosing competing solutions, that we would be their main partner, who in the DAO they could work with to explore this integration - worth having at least a discussion with them about - what would be the benefit for us to be exclusive?

Priority 1 work with them to get tBTC price feed.

mStable - they reached out for potential token acquisition/swap, anyone is invited to read up what they posted in our channel with them, MStable channel, would give us voting power on their MTA rewards , (looks like something for the treasury task force)

Alchemix - Wait till full bridge launch, Matt would be happy to help with intros when the time is right.

Gearbox - Maclane shared a link - bridge protocol use it to take directional leverage bets, leverage yield farming, our interest would be asset onboarding process that will go thru the DAO, tbtc v2 and eventually THUSD and T whitelisted collateral, Xkoyopa said he would reach out

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21Dec21 - Integrations Guild Notes##

(h/t Jessi !)

Saddle- A proposal to be done to move Keep rewards from Saddle tBTC pool from one pool to the other.

Align with Keep team on the Dev port update - Naxsun draft proposal

Abracadabra - Proposal process has changed. Someone from the community would have to take it on - unfortunately, should probably be tabled for the time being - probable developers guild in the future for things like this

Notional proposal - No update

Rari - Naxsun/Ramaruro will look into it

Chainlink - We need the price feed, they want us to use another product from them, the Keeper network. Saw someone talking about their Keeper network who wasn’t happy about it, something to keep in mind
Dev protocol - Talked with them in Tally, They reached out to us, Ask them to introduce themselves in the integrations channel and tell us more about themselves

Curve - Doug asking for Curve rewards for the pool, he is trying to make pool available on Convex, - Is probably a lower priority, after the bridge

T-Token was talked about in the Treasury task force call

Is there something that can be done in the integrations guild with PRE? MrsNu will ask a few people on NuCypher side

Integration Twitter - Thread started in the Integration channel for collaboration on threads to be posted about activities being done in the Guild

Next week no call for the Holidays, Next Call on Jan 4th, Happy Holidays!

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4Jan22 - Integrations Guild Notes

Happy T Mint to all !!

Short and small gathering today. Hope that more join next week !

Saddle - Proposal is up to move rewards from old to new TBTCv2 pool. And hit Multisig vote.

List of Lending Protocols to analyze tBTCv2 onboarding after bridge launch is:

  • Maker, Abracadabra, Notional, Euler, Aave, Alchemix.
  • Unit and Cream is a No go for now
  • 88mph and Element need tBTC being on Lending protocols

No feedback from Badger.

@dougvk should onboard Chainlink so we can work on their integration.
Dev Protocol offered a way to incentivize/solve the Block Relayer issue. We should research further this opportunity.

Curve rewards are in the works - currently discussed different alternatives in the Treasury Task Force. mStable was discussed in TTF as well.

KeeperDAO is up for integration talks, investigate different alternatives.

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11Jan2022 - Integrations Guild Notes

tBTCv2 - updates from Doug:

  • The code is all public as well as the RFCs are all public on Github
  • The Audits are booked for March 2022 for 6 weeks. In the meantime should continue to work on liquidity for V1.

Chainlink - Joining the Discord this week

Badger Protocol - Ramaruro will keep an eye out

Saddle - There are to 2 different staking contracts for Saddle and Keep, Discussion about combining rewards. What would be the best way to handle - open a thread where everyone who thought we were giving too much to Saddle can voice their input, reach out to Saddle, then a proposal would have to be opened. We should try to make it clear to Saddle that we need their help on this, and this is more of an issue for them. The contract combining rewards must be handled by them.

  • Jan13th update: teams are already discussing this.

mStable

  • Proposal needs to be put together to incentivize their tBTC pool.
  • the plan will be handled by Treasury Task Force
  • Possibility: investigate if we want to hold onto their LP tokens.

Most protocols we are waiting on the V2 launch (rari, notional, etc)

Rusty was introduced – KEEP’s new BD: Welcome !

  • Responsible for integrations into tBTC v2 – turning this into a platform play (getting suppliers, generating demand)
  • Building out value architecture showing how tBTC v2 can be integrated everywhere

Notes by Jessi!

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18Jan2022 - Integrations Guild Notes

Beanstalk & DebtDAO

Inviting them to the next integrations call to open a discussion on their protocols/ideas. Beanstalk is interested in integrating tBTC, DebtDAO could be useful for treasury

KeeperDAO has 1% voting power in Convex. Discussed possible offerings and ideas. Possible private bribe. Waiting to hear more from them on what would be ideal for them. Anyone is welcome to pitch in ideas (like e.g. bribing with not only Gov Tokens, or, having them staked our T tokens)

Operations for IG:

  • Jake will be looking into Notion for Integrations
  • Are we interested in any DAOstacks?

Protocol updates: most Lending Protocol’s integrations are waiting on tBTC v2 launch

IG Brainstorm: We should start brainstorming on other protocols and how to integrate our protocol with them, not just for tBTC

Polygon - (Maclane updated) Working on getting the granting and revoking and all the policy stuff working on Polygon for PRE

Upcoming Calls and guests on IG:

  • Scheduling a Decus call
  • Inviting DebtDAO
  • Inviting Beanstalk

Notes by Jessi :pray:!

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25Jan2022 - Integrations Guild Notes

Idle Finance
https://idle.finance/#/

  • Opportunity to earn yield on tBTC for Users
  • They offer different tranches with different risk / reward options
  • They are just starting, and the current strategy is to deposit in Convex
  • Not enough liquidity right in tBTC pool now to make this worthwhile, but interesting to make it available later one when the V2 Bridge is available

UCL Research Program
Discussed request to McLane to have UCL MSc students (in Computational Finance, Machine Learning and Financial Risk Management) to work on a Crypto Project

  • Initial topic suggested is to analyze thUSD protocol and stress test it in different scenarios
  • McLane will involve ramaruro to support initial discussions with the Students
  • Another topic suggested is Threshold / tBTC economics

DebtDAO visit
Live Discussion with Nikiel & William X from Debt Dao

https://www.debtdao.org/

Currently debt between protocols is based on relationship only (e.g. PleasrDAO and Iron Bank)
Debt DAO intends to facilitate debt to Protocols.
Payroll Facilitation:

  • Example to avoid: pay in protocol tokens. It is more desirable to pay a contributor in stables vs a protocol token, because if not you are asking them to sell, not a good situation

Current Integrations

For Threshold to take Debt

Provide Collateralized Loans, using Protocol Token as Collateral (T for Threshold’s case). Currently loans are in FRAX, DAI, upcoming in FEI.

  • Requested a link to Treasury Assets to understand what the current situation is
  • they’re interested into integrating thUSD.

What is the Interest Rate?
Two approaches:

  • Floating Rate
  • Fixed Rate/Term Product (being worked on right now)

Debt could be used for:

  • Payroll
  • Bootstrapping Liquidity

We need to discuss internally further for what this debt could be used for
A possible scenario discussed:

  • Take a Loan, buy CVX, keep that CVX as collateral but control the bribes and the rewards.

KeeperDAO meet

1/25 5PM EST Discussion with KeeperDAO (they hold 1% in Convex, how can we leverage that?):

They offer:

  • their Convex Voting Power on a OTC level
  • KD core service is to route Limit Orders with MEV protection and Gasless fees.

Interested in:

  • T payouts, open to talk about staking + running a node
  • discount if TN does its market buys on their platform

TN and its Treasury Guild will draft an initial proposal.

Notes by Ramaruro :+1:

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FEB/1/2022 - Integrations Guild Notes

Beanstalk visit - We had a presentation about Beanstalk protocol. The Beanstalk team looks forward to exploring potential integration ideas with tBTC. It aligns with the decentralized ethos that Beanstalk is aiming for with BEAN as its credit-backed stablecoin on Ethereum.

In their own words :

the Beanstalk Farms team would like to make the Silo and Field available to tBTC holders by adding tBTC as an option when interacting with the Silo or Field on bean.money.

The Silo is a “depository account” where depositors are issued Stalk - the yield-bearing governance token for Beanstalk that entitles depositors to future Bean mints.
The Field is Beanstalk’s credit facility where tBTC users would be able to take part more directly in Beanstalk’s growth with a longer lock-up period. tBTC holders would essentially be selling their tokens for Beans, then putting their Beans into the Silo or Field in one click. That’s how it would work on the backend. We’d also love to have a one-click option on the tBTC dapp where holders would have the option to directly Silo or Sow in the Field their new tBTC tokens.

One thing that excites me about the Silo is that it’s tax advantage so tBTC holders who don’t want to realize their gains yet could store their tokens and earn new Beans.

image
image1888×2048 211 KB

Deposits in The Silo only earn yield from newly minted BEAN (50% of newly minted BEAN is distributed to depositors in The Silo relative to their Stalk allocation, and 50% of newly minted BEAN is distributed to Pod holders on a first in first out basis). Beanstalk Protocol only mints new BEAN when P > $1 for extended periods when the underlying demand for BEAN exceeds supply.

Chainlink: they formed a Telegram group for integration conversations including their team plus Will, Doug and East.

Notion TIG members Jake and East are developing content for a TIG Notion site, including :

  • Integrations Tracker, a Kan Ban to have a common follow up overview
  • partner protocols profiles and
  • Assets for handling tBTCv2 integration proposals.
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February 15, 2022 - Integrations Guild Notes

  • Discussion of Saddle token swap
  • Discussion of moving rewards from Saddle TBTC pool
  • Discussion of tBTCv1 liquidity, need to wind down gauge on Curve.
  • Threshold USD
    • Need someone to review updates
  • MStable
    • Swap proposal is ready to hit the vote
  • KeeperDAO
    • Could potentially use Keep tokens since they have built in vesting contracts
    • Proposal is ready to ship to KeeperDAO for feedback
  • Next Steps
    • Follow up on Saddle Conversation
    • Proposal for repurposing rewards in Saddle pool
    • Need contract for vesting swaps

h/t Jake for the notes.
Crossposted on Notion.

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Further notes will be published in the Threshold Notion: