We are excited about this relationship and hope this can be the start of a long one.
Although the vote currently looks like it will pass (210k votes FOR, 0k votes AGAINST), Polygon Labs would like to express its confidence and bullishness in the initiative outlined above by providing additional liquidity and incentives to this deployment:
- $5M of stablecoin liquidity allocated to a combination of two upcoming RWA vaults that Gauntlet will be curate: (1) Spiko ($100M+ TVL on Polygon PoS), and (2) a high-yield RWA from a top 25 global firm by AUM. This will highlight Polygon PoS as the home for RWAs and Compound as the place to go for added utility on those RWAs.
- $5M of POL, which Polygon Labs will look to borrow against as it makes sense operationally. This will drive borrow fees for Compound lenders.
- 250,000 in additional POL earmarked to incentivize the Spiko vault or second RWA vault mentioned above.
Notes:
(A) If for whatever reason, the Spiko or other RWA vault is not live in the next month, April 7th, then Polygon Labs will work with Gauntlet to deploy the stablecoins in another vault that is most valuable to Compound’s growth.
(B) Polygon Labs commits to leaving liquidity in the vaults above for a minimum of one month, after which it retains the right to remove liquidity as needed.
Marc Boiron
CEO, Polygon Labs