Add new Token, representing a balanced allocation (eg 70%/30%) of two assets

Description

A new token that would include a balanced allocation of pBTC (70%) and pLTC (30%)

All pTokens (pBTC & pLTC) are pegged 1:1 with the underlying asset.

pBTC: pBTC is an ERC-20 token representation of bitcoin.
pLTC: With pLTC, users mint their tokens by depositing LTC via the custom pTokens DApp. The LTC is then locked while the equivalent pLTC can move freely around the Ethereum ecosystem.

Motivation

Each blockchain is confined to its technological boundaries. As a direct consequence, liquidity is locked within its ecosystem. Liquidity is largely spread across many blockchain platforms, and it isn’t easy to merge into a single pool. Thus, it becomes essential to create solutions that allow effective cross-chain composability for DApps to access any asset…

I don’t have any proposals for the token symbol or name…

4 Likes

What about $UTXO for the name @erikafox?

I think there is a question to be asked if people in DEFI are willing to use LTC but I’m up to try, don’t see any harm in that.

$UTXO looks great! Also, if possible, trading enabled…

That’s a really interesting idea! LTC is one of the most traded assets in CeFi, so I think it will be interesting to offer a pie that includes it :clap:

1 Like

Sounds good! Would pNetwork be able to some initial liquidity for the Pie and also a pair on another DEX?

3 Likes

sorry, just saw this now! Yes, both pBTC and pLTC are available on other DEXs - pBTC is available on Kyber, Loopring and Bancor, while pLTC is available on Loopring and currently we have a proposal open to bring it on Curve https://gov.curve.fi/t/discussion-add-incentivised-pltc-sltc-pool-to-grow-ltc-liquidity-on-ethereum/779

1 Like