Proposal Summary

XIP-36 proposes enabling ETH & SOL deposits.

Specification

Overview

Infinex currently supports USDC and USDE. This XIP proposes expanding support to include ETH and SOL.

In order to do so, the Infinex Platform will need to be upgraded to support these assets. This will involve enabling support in the EVM Smart Contracts for ETH deposits, tracking deposits of these assets in the Infinex backend, and displaying them in the UI.

It will also mean adding support for volatile assets in the UI, taking the current market price of the assets in USD into account when displaying total wallet value, as well as the total balance available for staking in campaigns.

The value of ETH and SOL deposited by users, demoninated in USD and determined by a 3rd-party market price feed, will be counted as TVL for the upcoming Craterun campaign. These assets will be the first volatile assets to be added to Infinex, and be eligible for Craterun rewards, however these will not necessarily be all of the additional supported assets for Craterun.

Rationale

Expanding support for more assets besides stablecoins will allow Infinex's TVL to continue to grow after the end of STW, and the community has expressed interest in depositing more volatile assets. ETH and SOL are the clearest first two assets to add, given their market cap value and the fact that they are the native assets of chains Infinex currently supports.

Technical Specification

The supported assets will be

• Ethereum and Wrapped Ethereum on Ethereum Mainnet, Arbitrum, Optimism, Base, Polygon
• Solana and Wrapped Solana on Solana.

Specific contract addresses of these assets will be posted in a future RC.

The Infinex account currently does not block deposits from all Solana coins, which means to support SOL deposits, Infinex will simply just need to upgrade the backend infrastructure to track Solana deposits.

However, accepting deposits for Ethereum require a contract upgrade, as Ethereum is a native coin, not a token.

It is expected that a Terms Of Use upgrade and Contract Version Upgrade will need to be accepted by Users to enable ETH and SOL support in the UI.

Copyright

Copyright and related rights waived via CC0.