Please use this thread to list any desires you have for stLINK in defi and your overall experience with the protocol and any suggestions you may have.
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I’d like to see lending protocols accept stLINK as collateral - e.g., Spark, Aave, Morpho.
All in all, we should delineate a clear strategy towards driving stLINK adoption.
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This is an old topic, but as we continue our approach to AAVE wrapped stLINK this becomes worth revisiting because there is more to flesh out.
I think that wstLINK is a natural evolution for stLINK due to the easier tax reporting implications. From there depositing it as collateral becomes a natural use for it.
I believe that stLINK and SDL have a great opportunity with what they are and who they serve in the market.
Who do they serve? LINK and LINK holders. Their primary customers are the most crucial part of DEFI and onboarding-tradfi.
What are they? This is a staking service delegated and endorsed by the team and operated by Node operators.
What does this mean for defi-ecosystem tokenomics?
I believe that bootstrapping accessibility to SDL is a natural fit. The existing assets are blockchain compatible and can allow more liquidity for SDL buyers while also becoming a revenue source and a degree of control over the access to the SDL token. Integrating into the defi market by creating sponsored pools has already been suggested and done. I believe that horizontal expansion into the market of SDL products is a natural fit. Sponsoring the curve pool is a great idea too. The LINK resources that SDL touches are SDL, reSDL, LINK, stLINK, wstLINK. Any adjacent markets that serve these assets should be explored. I believe we would see LINK/stLINK trades (not just on curve) where the premium on stLINK is a composite of 1 Months Yield or Expected Queue Time’s yeild over base LINK price. I believe such a market can be made and that SDL can control the spread and bring revenues back in to the project. I also believe that a secondary market for reSDL denominated in LINK or USD is worth making as well. I have heard that a secondary market for the NFT’s could have unintended consequences for reSDL but I believe that such a market is coming because money can be made off of it and it may as well be SDL. I believe that we could see discounts or premiums applied to these NFT’s over time. Because they are functionally locked from the buy/sell of SDL itself the price impact would not be the same. With this said, I believe SDL has another opportunity. I don’t know if this is possible or reasonable but introducing limited edition lock periods with limited edition reward multipliers could generate some action for a future reSDL market and increase engagement around the market
other considerations: non-link products
This is the most significant expansion in my opinion. Making LINK, stLINK, and SDL accessible capital in these markets is where the magic happens. Not every ecosystem is great for bringing capital in to, but in a multichain future all ecosystems become one. Making link available, in the short term, on these platforms increases revenues and presence of LINK marines. This also increases opportunities. exploring adjacent services (LPing) in ecosystems that SDL handles seems like a sensible area to explore.