BSP-10: Award Pharos Protocol a Grant to Develop a Pod Lending Market
Proposer
Mod323 and Funderberker (co-founders of Pharos)
Summary
Pharos is an on-chain prime brokerage protocol that enables users to access, trade, and deploy leveraged positions with any on-chain asset or protocol.
This proposal proposes to reallocate 25,000 Beans from BSP-9 to Pharos for the development and deployment of a lending market for Pods.
Purpose
The Market facilitates the exchange of Pods in the secondary market. A Pod lending market deployed by Pharos would enable using Pods as collateral against loans.
Multiple roles will be needed to launch a MVP:
Smart Contract Development:
The Pharos core smart contracts are in development. To facilitate Pod lending, a Pod oracle and liquidation mechanism needs to be developed.
Front End Development:
A frontend is needed in order to create, view, and interact with Pharos.
Example
Borrower-A, a Beanstalk Farmer, takes out two loans: Position-1 from Lender-A and Position-2 from Lender-B.
Position-1 is an under-collateralized loan where the borrower took out a USDC loan and swapped it for ETH on Uniswap, effectively longing ETH with leverage.
Position-2 is an over-collateralized loan where the borrower borrowed ETH.
Risks
Pharos is a new protocol that is yet to launch. The goal would be to have the code audited before deployment (no guarantee), but this grant will not cover an audit.
Effective
Upon passage of this BSP, 25,000 Beans will be sent from the Coop to Pharos.
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0x3743...e2494B | 2.486M | For |
 0x4c18...2FbbE6 | 1.369M | For |
 0x1aa7...52Dfd2 | 1.077M | For |
 0xDE3E...7ec7F0 | 926,460 | For |
 0x9A00...44D9dA | 803,482 | For |
VOTE POWER
Proposal Status
- Mon April 17 2023, 05:00 pmVoting Period Starts
- Sat April 22 2023, 05:00 pmEnd Voting Period
Current Results
1-For
11.381M
2-Against
2.452M