Now that iBTC has finally launched, the next step is to launch integrations with Polkadot parachains. As a decentralized network, decisions lie with the community - and so we want to share all information and opportunities we are aware of so far to initiate discussions.
Goal:
- Share a regular overview of the integration roadmap to increase community awareness
- Get feedback as early as possible (also for integration partners) to ensure fast execution
Acala
The Acala parachain is currently not fully operational as an aftermath of the aUSD incident. Follow the latest updates here: https://acala.discourse.group/c/acala/16
Paused
- iBTC/aUSD pool: currently halted due to aUSD incident
Targets
- iBTC as aUSD collateral
- Requirements: liquidity on iBTC/aUSD pool;
- Status: paused until aUSD recovers; conversations with Gauntlet re. parameterization commenced;
Exploration
Moonbeam
Live
WIP
Targets
- Curve Finance: multiple interesting options available, including but not limited to:
- Interlay ecosystem 3pool: iBTC/INTR/DOT
- Polkadot version of the infamous ‘tricrypto’ pool: iBTC/DOT/USDx (USD stablecoin is open for debate, USDT and aUSD being options)
Exploration
- iBTC on Moonwell money market:
- Requirements: enough iBTC liquidity on Moonbeam for flashloan liquidations on Moonwell; Chainlink price oracle (this one is a blocker)
- Further Curve Finance pools:
- Polkadot L1 index pool: Containing tokens of largest parachains: ACA, GLMR, INTR, PARA, ASTR
- BTC 3pool: iBTC/wBTC/renBTC (other BTC versions to be live on Polkadot first)
- iBTC on Midas Capital money market (https://www.midascapital.xyz)
- iBTC and INTR as collaterals on DAM Finance lending protocol (https://dam.finance)
Parallel Finance
XCM channel is WIP, full integration ETA 1-2 weeks (incl. bridge UI). Governance proposal open here: https://interlay.subsquare.io/democracy/referendum/19
Target
- INTR pool on Parallel DEX
- Requirements: XCM channel open
- Status: Currently assessing tokens pairs (will be put up for community feedback). Needed so Parallel users can get INTR to pay for iBTC bridge and XCM fees.
- iBTC on Parallel DEX
- Requirements: XCM channel open
- Status: Currently assessing token pairs and running calculations. Will be put up for community feedback.
Target
- iBTC as a borrowing asset on the Parallel money market
- Requirements: enough iBTC liquidity on Parallel DEX so that safe liquidations are possible;
Astar
XCM channel is WIP, full integration ETA 2-3 weeks (incl. bridge UI). Governance proposal open here:
https://interlay.subsquare.io/democracy/referendum/16
Targets
- iBTC on Arthswap DEX (https://app.arthswap.org/#/swap)
- Requirements: Astar XCM channel open.
- Status: Pairs are being explored and will be put up for community feedback.
Exploration
Playbook for iBTC launch on new (para)chains
The suggested order of execution is as follows:
- Launch a decentralized bridge (e.g. XCM)
- Launch INTR pool, so users of the new chain can pay for iBTC mint/redeem and bridge fees. Preceded by community poll re. pairing asset
- Launch iBTC pool and create deep liquidity. Preceded by community poll re. pairing asset
- Launch money market to enable lending (needs liquidity for liquidations)
- Explore further Dapp integrations, prioritizing unique use cases
Call for Feedback
Ultimately, the decision about integrations lies in the hands of the community. Most DEXes and Dapps will be requesting incentives from the Interlay treasury, which requires consensus among INTR stakers. In consideration of time and effort invested, sharing feedback as early as possible is important to achieve fast execution (i.e., have an overall idea of what we all want before a Dapp makes a proposal for incentives).
How?
- Comment on this post
- Open dedicated discussion posts for specific integrations and share your opinion