Swaap Lend - Euler Incentives Matching

Growth Rewards
1

Summary

Swaap Labs proposes an incentive matching in rEUL for ETH and USDC vaults worth a total value of $15,500 over one month. This includes $12,000 for ETH and $3,500 for USDC, in alignment with our revised strategy for December.

About Swaap Labs

Swaap Labs builds and operates onchain financial primitives, with a special focus on risk management and onchain market making

Key Metrics (as of December 2024):

  • TVL: $3M+ onboarded from Swaap LPs on Euler ($2.5M ETH, $500K USDC).

Euler has become a key partner for Swaap’s liquidity strategy. By aligning incentives and supporting Swaap LPs, we can continue scaling this partnership while attracting long-term liquidity providers.

Incentive Program Structure

  • Token: ETH and USDC
  • Total Value: $15,500 over one month
    • $12,000 for ETH (increased focus to acquire mass and meet growing borrowing demand).
    • $3,500 for USDC (decrease due to competitive stablecoin rates).
  • Matching Request: $15,500 in rEUL over one month.

Rationale & Benefits for Euler DAO

  • Scaling TVL and Borrowing Demand: This proposal aligns with our goal to grow to a $15M-$20M market across all chains by April 2024, scaling incentives proportionally to support this growth.
  • Long-Term, Sticky LPs: Many of Swaap’s LPs have demonstrated long-term commitment, holding positions for up to two years. Incentivizing these users can establish Euler as their go-to platform.
  • Onboarding New Chains: We see significant interest in expanding to Base, Arbitrum, and BSC, and are ready to incentivize launches on these chains, contributing to Euler’s growth.
  • Enhancing Liquidity Dynamics: The ETH-focused strategy aligns with expected borrowing needs.

Team and Community

We welcome feedback from the community and look forward to aligning with Euler DAO to grow together.