Summary:
Collaborate with Timeswap on Arbitrum to support the creation of fETH/USDC and xETH/USDC pools. Timeswap is a non liquidatable, oracleless money market. This will allow holders of fETH and xETH to take loans against their assets at fixed rates for certain fixed duration periods.
Motivation:
Increase composability of fETH and xETH assets.
Background:
Timeswap is a oracleless, no liquidation money market on Arbitrum (+ other chains). They offer support specifically for long tail assets and I think fETH and xETH would make a great fit there.
Timeswap works by having an AMM - where users will provide liquidity for both assets (xETH/fETH + USDC) and then both lenders and borrowers can partake against this AMM. This model ensure oracles aren’t required and also liquidations aren’t either.
Users can get fixed term loans against their fETH or xETH which I think will be a great addition to what users can currently do. Borrows can also partake on the other side and this also enables looping strategies too.
Timeswap pools have fixed duration so this could be a short term or long term addition depending on its success.
Timeswap also have a large following on social media - this partnership could bring a new audience to Protocol f(x) and Aladdin DAO for future growth purposes.
Proposal:
Adding 2 pools on Timeswap on Arbitrum, fETH/USDC and xETH/USDC for a 4-6 week duration would be the initial plan, and based on its success - this could be continued in future.
I can help with getting the Protocol f(x) team in touch with the Timeswap to see if something could be worked on here. I don’t think it will take much time or resources to integrate whatsoever.
Disclaimer: I am an Ambassador for the Timeswap Protocol & I am a big fan of both protocols 