Excited to see $sMONEY help lead YBA’s on OP!
Thanks for this whitelisting application @AETBX.
Before we whitelist more providers, @Gonna.eth will you confirm how much budget is left for this MR if any?
WHITELISTING REQUEST FOR superETH
Dinero Protocol would like to request the whitelisting of superETH.
superETH is a native ETH Liquid Staking Token (LST) built specifically for the Optimism Superchain by Dinero Protocol in collaboration with Mode Network. Like other ETH LSTs, superETH increases in value as it generates ETH staking yield through apxETH on Ethereum mainnet, allowing users to seamlessly earn staking rewards.
superETH can be minted on any Superchain with ETH and can be easily bridged to other Superchains, ensuring smooth cross-chain interoperability and utility across the entire Superchain ecosystem.
The vision for superETH is to become the go-to ETH asset for the Superchain—so widely integrated and adopted that it surpasses even WETH in usage. As one of the first “Super Apps” purpose-built for the Superchain, superETH aims to unify the ecosystem, enhancing liquidity, expanding utility, and fostering greater cohesion among protocols.
By integrating superETH across the Superchain, protocols, builders, and users benefit from access to native ETH staking yield, while the Optimism Collective earns a share of superETH’s yield—creating a sustainable revenue stream to support network growth. This can be redistributed to protocols and users supporting superETH.
superETH will adopt the SuperchainERC20 token standard for bridging between Superchains, and will use LayerZero for interactions with Ethereum Mainnet.
The deeper superETH integrates within the Superchain ecosystem, the greater its utility and value for users, protocols, Superchains, and the Optimism Collective. This creates a utility flywheel: as superETH’s utility grows, it becomes more foundational to the Superchain, attracting more users, protocols, and chains to hold, use, and build on top of it. This, in turn, reinforces superETH’s role, making it even more essential and valuable for the entire ecosystem. Whitelisting superETH can ignite the superETH utility flywheel across the Superchain.
ADDITIONAL INFORMATION
- Website: dinero.xyz
- Audits: Audit Reports
- Docs: Dinero Docs
- Twitter: x.com
- Discord: Dinero Protocol
Just adding some context here, Velodrome recently received a 200K OP grant for this MR and have been directing YBAs we believe are eligible to be whitelisted by the grants council. It’s my understanding Velodrome can only use this OP for the current list of whitelisted tokens (quoted below) and request new tokens get reviewed to help grow YBAs on OP Mainnet.
A whitelist of eligible yield-bearing assets with permissionless token transfers. This includes at inception: wstETH, rETH, cbETH, sfrxETH, USDM, wUSDM, USDY, sGYD, GYD and bI0B1.
WHITELISTING REQUEST FOR mooBIFI
Beefy would like to request the whitelisting of the yield-bearing token, mooBIFI.
mooBIFI is the yield-bearing version of BIFI, Beefy’s native governance token. It is available exclusively on Ethereum, Optimism, and, more recently, Base. By holding mooBIFI, you can accrue value from Beefy’s protocol revenue, which is generated across the 32 different chains where Beefy is deployed. This revenue is bridged back to the mainnet, allowing mooBIFI holders to benefit from the earnings of the entire Beefy ecosystem.
The yield for mooBIFI is obtained directly from Beefy’s revenue, generated through its vault strategies. Users stake their BIFI tokens in Beefy to earn more BIFI over time, effectively compounding their returns.
BIFI has a fully distributed supply of 80,000 tokens, with 46,107 tokens (57.6% of the total supply) currently staked on Ethereum to earn revenue from the protocol. When BIFI tokens are deposited into these governance pools, they produce a receipt token which accrues rewards automatically over time. One of these pools automatically reinvests the rewards into more BIFI, meaning the receipt token (called mooBIFI) is a yield-bearing asset.
14,315 mooBIFI are bridged to Optimism, 967 to Base, and 30,825 remain on Ethereum. Yield for mooBIFI is currently averaging around 9%.
BACKGROUND CONTEXT ON BEEFY
Beefy is a multi-chain yield optimizer that enables users to earn compound interest on their crypto holdings. By automating yield farming strategies and combining rewards, Beefy maximizes returns from various liquidity pools and DeFi protocols across multiple blockchains.
BEEFY ON OPTIMISM
Beefy deployed on Optimism very early, acknowledging the huge potential of the chain. mooBIFI is also deployed on the chain and meets all required security standards.
Beefy is planning partnerships with Velodrome and Silo to strengthen its position on Optimism, including collaborations aimed at deepening liquidity and utilizing the yield-bearing governance token as collateral in other DeFi applications.
Whitelisting mooBIFI would provide Optimism users with a new form of yield-bearing token, enhancing the diversity and robustness of the Optimism DeFi offerings.
ADDITIONAL INFORMATION
Website: https://beefy.finance
Audits: Audit Reports | Beefy Finance
Docs: https://docs.beefy.finance/
Twitter: x.com
Discord: Beefy Finance
Analytics Dashboard: https://analytics.beefy.finance
Thanks for this application @frondoto – Let me confirm if there is still room in this MR as the season is about to end before we proceed with the whitelist.
Hey @AnthiasLabs I heard mooBIFI was recently approved as a YBA by the grants council, can you update the original post to reflect that change.
@Gonna.eth can you confirm the above and also review the other requests in this post as well, in particular sMOENY and superETH.
Hey @abmis - thanks for checking in here. The season has concluded here, but mooBIFI and superETH have been added for documentation sake. sMONEY was not voted through.
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WHITELISTING REQUEST FOR uniBTC
Bedrock would like to request the whitelisting of the yield-bearing token, uniBTC.
uniBTC is the yield-bearing token representing BTC staked on Babylon and powered through Bedrock’s Infrastructure. It is available on 12 chains including, Ethereum, Arbitrum, Optimism, and, more recently, Mode. By holding uniBTC, token holders can accrue yield generated on top of Babylon’s platform as well as earn Bedrock Diamonds which are the points system for Bedrock. uniBTC was the first BTC LST launched in partnership with Babylon in March 2024.
Similar to how EigenLayer generates yield for the underlying assets, Babylon generates yield for the BTC staked. This BTC is used as collateral to secure the services that run on top of Babylon.
uniBTC is the 3rd LRT token launched by Bedrock, joined by uniETH and uniIOTX (launched in partnership with the IoTeX Foundation).
BACKGROUND CONTEXT ON Bedrock
Bedrock is the first multi-asset liquid restaking protocol, backed a range of investors, including OKX Ventures, Amber Group, LongHash Ventures, WaterDrip Capital, Arche Fund, Comma3 Ventures, and Babylon cofounder. As a liquid staking pioneer, Bedrock brings high yield and institutional-grade security to the community through uniBTC built on Babylon, uniETH built on Eigenlayer, and uniIOTX build on IoTeX. Bedrock’s current TVL is $526m.
Bedrock ON OPTIMISM
Bedrock launched uniBTC on Optimism earlier this year in parallel to becoming an LTIPP grant recipient. uniBTC TVL on Optimism grew quickly to $8m+ with more than 70,000 token holders and 150,000 transactions. Launch partners included Velodrome, OKX, Beethoven, Silo, and more.
Bedrock also joined Mode’s Season 3 being one of the most voted on project in its category. Bedrock is continuing to work closely with existing partners and creating new partnerships to further enhance uniBTC’s growth within the Optimism Ecosystem. uniBTC is also close to launching on Base and the team has a close relationship with all foundation teams, and many of the core projects within each chain. Bedrock also has a deep partnership with Chainlink to offer price feed oracles, CCIP integration, and Proof-of-Reserve.
Whitelisting uniBTC would encourage stronger growth for Optimism users with this leading form of yield-bearing token, especially given the attention and amount of interest in BTCFi products. Given the existing partnerships with many other DeFi protocols like Babylon, EigenLayer, Arbitrum, Chainlink, Velodrome, Curve, Balancer, Pendle, Term, Timeswap, Equilibria, Penpie, Pancakeswap, Ramses, Camelot, Avalon, Corn, Karak, Mitosis, etc. Bedrock can bring new life and activity.
ADDITIONAL INFORMATION
Website: https://www.bedrock.technology/
Audits: Audit Reports | Bedrock
Docs: https://docs.bedrock.technology/
Twitter: x.com
Discord: Bedrock Discord
Github: https://github.com/Bedrock-Technology
DefiLlama: https://defillama.com/protocol/bedrock
Season 6 Grants Council term is over. Please reach out on January 16th for a Grants Council vote.
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Just following up if you can confirm the superETH whitelisted was Dinero’s. Linking their whitelist request below.
Hey @abmis - SuperOETH by Origin was whitelisted (will link their application below). superETH by Dinero was not voted through by the Grants Council this season, but if this MR is used again next season, would encourage them to apply early.
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