Proposal Summary

XIP-60 proposes support for UNI, LINK, AAVE, SNX, MKR, AERO, VELO, CRV, CVX, ONDO, PENDLE, ENA, ZRO, JUP, RAY and JTO

Specification

Overview

Infinex currently has a variety of assets supported, however, has not expanded support for DeFi assets.

To celebrate the addition of these new DeFi assets, Infinex will launch DeFi Summer. Users who deposit and stake any of the below assets or the Wormhole token (assuming XIP-58 is approved) will receive a 500% boost on their deposit value, which will last until the end of Craterun.

• DeFi Summer will run for 3 days, starting 2024-07-22. Offical times will be proposed in a later RC.
• All assets included in this XIP (and W token) will be accepted on day 1 of DeFi Summer, and will be eligible for user boosts.
• Users will not recieve their boosts immediately after depositing and staking their balance, instead boosts will be granted after the end of the 3 days.
• Users boost value will be calculated off the current market value of the assets at the end of DeFi Summer, and will not fluctuate.
• Users who deposit their DeFi tokens after DeFi Summer will not receive any boosts.
• Any withdrawal (even if the withdrawal is not a DeFi asset) will remove your DeFi Summer boosts. This appies to withdrawals made after the 3 day window.

Boost coupons are not free money bonuses, and are not withdrawable, they serve the purpose of the user accuring additional crates.

Rationale

After Infinex's expansion into LSTS, LRTS, and recently Memecoins, Infinex should aim to target another huge sector of the crypto market, which is DeFi. By enabling support for these DeFi assets, and also running a promotional campaign for their deposit, Infinex will be able to attract further TVL.

Technical Specification

Infinex will add support for deposits and withdrawals for tokens on following networks below.

The Infinex account currently does not block deposits from EVM tokens or Solana coins, which means to support these new assets, Infinex will simply just need to upgrade the backend infrastructure to track these new assets.

Copyright

Copyright and related rights waived via CC0.