Integration with Tokemak

Proposals
1

Hi!

I propose that Lido Finance use Tokemak as a liquidity provider for stETH (and possibly LDO).

Tokemak is a new DAO that will soon provide tokens with USDC and ETH liquidity across several protocols like Uniswap, Sushiswap, Balancer, and 0x (more protocols and pairs likely coming). Increasing liquidity of stETH will increase the utility of stETH, further driving adoption. After all, the reason liquid staking will be dominant is the utility provided by having one’s capital remain highly liquid in Defi.

Lido Finance could swap some amount of LDO for some amount of TOKE in order to permanently gain access to the liquidity provided by Tokemak. In a recent interview with David Hoffman, the founder of Tokemak, Carson Cook, makes this offer explicitly to DAOs at minute 21:00 (The Tokemak Liquidity Singularity - YouTube).

More information on Tokemak can be found at:

Thoughts? Cheers!

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2

I brought this up a few days ago and think it would be a great idea for stETH & LDO. Tokemak offers a great opportunity for the DAO to diversify the treasury.

From Aug. 22nd:
https://research.lido.fi/t/potential-improvements-for-ldo-and-additional-fees-for-dao-tokemak/955/3

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3

Hi @Jack_Freckle wanted to make sure I followed up here as well. I have reached out to the team to better understand the timing around the product expansion and where we might be able to work together on this. I will make sure to update when I know more!

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