[PROPOSAL] LP Finance Protocol Acquisition

[aperire]

Summary

This proposal is for Saber DAO to acquire LP Finance Protocol to seamlessly integrate Saber LP tokens and further develop new synthetics (zUSD, zETH).

The goal of this proposal is to expand Saber’s user base, improve liquidity inflow, and more utilities for end users.

The deal is as follows

• 70,000 USDC and 2.35M SBR (2 years linear vested) transferred to LP Finance Labs
• Eric Lee (Founder) joins as a contributor at Saber DAO as a project lead (“Development Plans After Acquisition”)(Wage can be discussed in future proposal)
• LP Finance frontend and rust engineer joins full-time for integration and Saber's product development (Frontend: $1,000/month, Rust Engineer: $6,400/month). Full-time work for Saber's product development persists until a proposal for hiring Saber's developers is passed.
• Full ownership of the existing zSOL protocol and resources are transferred to Saber DAO
• Rebrand zSOL protocol frontend to Saber

Motivation

• zSOL protocol integrates Saber zSOL-SOL LP tokens as an “LP Incentives” token (more info on https://docs.lp.finance/protocol/zsol-sol-liquidity-providers), which allows users to supply zSOL-SOL liquidity on Saber and earn interest/stability fees paid by zSOL borrowers.
• Saber has sufficient liquidity in mSOL-SOL, stSOL-SOL stable pools, which can be added as collateral on zSOL protocol (these collaterals can be utilized on Quarry to earn extra yields)
• In case we develop a new synthetic asset (zUSD, zETH, or any stable pairs on Saber with sufficient liquidity), it can be developed without extra effort if integrating Saber’s LPs as the existing zSOL protocol does
• Saber can directly benefit from extra liquidity inflow by allowing users to leverage Saber LP positions with LP Finance

Actions

• Transfer 70,000 USDC to 7KDQhb9KX8y9rkrtyAw4arkRVctGhaRhaUMCadfg4bEk
• Setup 2.35M SBR vesting contract for 2 years (linear unlock) to 7KDQhb9KX8y9rkrtyAw4arkRVctGhaRhaUMCadfg4bEk

[aperire]

Update: changed vesting contract recipient address

Setup 2.35M SBR vesting contract for 2 years (linear unlock) to EN2CV9nCnH9nBF9GyGYG9B3haNriNBkrPo8jF4c6mzUi