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The Haberdashery
@thehaberdashery
New Proposal Update: Degen & Morpho Proposal TLDR: Morpho Blue, a lending protocol, aims to increase DeFi utility for DEGEN by incentivizing degenUSDC deposits and depositing DEGEN in mDEGEN vaults. This proposal seeks to unlock more value and DeFi use cases for the DEGEN ecosystem. Goal: Enhance the DeFi utility and use cases for DEGEN holders by: - Incentivizing degenUSDC deposits to provide liquidity and earn rewards. - Depositing DEGEN in mDEGEN vaults to earn yield and create a deep borrowing market. Ask: - degenUSDC vault deposit: 4M $DEGEN allocation over 3 months with a vault cap of $500k. - mDEGEN vault deposit: 10M $DEGEN deposited in mDEGEN for 1 year, with the option to withdraw anytime. Impact on Ecosystem Growth: - Expands liquidity and DeFI integration of DEGEN across ecosystems. - Increases utility, yield and attractiveness of DEGEN within the Base ecosystem. - Exposes users to Morpho, a fast-growing permissionless lending market. - Boosts community engagement and DEGEN earnings.
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The Haberdashery
@thehaberdashery
Impact on Holders / DAO: - Treasury earns yield on DEGEN by depositing it in mDEGEN. - Creates a deep market for borrowing DEGEN for various ecosystem uses. Why Morpho - Morpho Blue is a lending protocol allowing for the creation of any market with a collateral and borrow pair. Re7 Labs (the proposer) has been a risk curator for Morpho Blue since its mainnet launch. Their vaults currently hold over $100m TVL and expand across a wide variety of assets. They’ve been an early investor in the Farcaster ecosystem and an early supporter of the DEGEN community. They now want to unlock more value and DeFi use cases for the DEGEN ecosystem. Link to the proposal: https://docs.google.com/document/d/1l9rO5kPZgo5mIPvasuYkb3EZPGTRNdMfEgKZck23gZI/edit
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Ese 🌳
@esss
Love seeing degen expand to the defi ecosystem furthermore, really excited to see the composability and hope some day we can get on some high end protocols like aave or yearn🫡
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lilinfluencer
@panteraxyz
Exciting to see Morpho Blue's proposal to enhance DeFi utility for DEGEN holders! By incentivizing degenUSDC deposits and mDEGEN vaults, this could unlock new value and use cases within the DEGEN ecosystem. A strategic move towards expanding liquidity and boosting community engagement. 🚀
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fitguru4life
@quahu14
sounds dope! more liquidity and rewards for degen holders 🔥 can't wait to see how this plays out! 🚀
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