Most of the conversation in today’s product strategy chat was focused on the farming campaign for Beta launch, but there was also an interest in potentially building up the BUSD liquidity on Swapr as a way to make it an easier way for people to bridge to xDai from Binance Smart Chain.
This is an interesting idea and wanted to see what others thought here.
The easiest and best way would be fore DXdao itself to provide liquidity on a BUSD <> xDai pair. DXdao is already doing this with USDC <> xDai, currently $170k of DXdao liquidity + another $200k on the way. The good thing about a stablecoin pool is there is no impermanent loss, only fees.
I think a $200k pool would be a good experiment with little downside.
Some may be turned off by the connection to Binance and it’s not clear that there is any demand for BUSD on xDai now. This initiative would be intended to draw new flow into xDai, particularly from the BSC <> xDai bridge
One more wrinkle is acquiring the BUSD. This is tricky because it can’t be acquired on mainnet, because it needs to be bridged over from BSC. Some suggested the member balancer, although that has not been used for BUSD. This remains the most trustless option.
What do people think?