APIR 3: Harvest's iBT of the Balancer: BTC farm (Balancer x Harvest x APWine)

gm everyone, Balancer Intern here with my first winelisting proposal :v:

Motivation:

New yield opportunities built on top of the Balancer ecosystem. Strengthening of the Balancer<>Harvest duo. New yield opportunities with APWine.

Project presentation:

Protocol: Balancer / Harvest Finance
Harvest’s vault: Balancer: BTC (WBTC, renBTC)
IBT requested: fbal_BTC
IBT contract address: https://polygonscan.com/token/0x002fbb34646c32fce6bb1d973b7585e62eee6aa9
Current TVL on the requested IBT: $1.15M
Current TVL of the protocol: $250M+
Audit links:
Pecksheld: https://github.com/harvest-finance/harvest/blob/master/audits/PeckShield-Harvest.pdf
Certik: https://github.com/harvest-finance/harvest/blob/master/audits/CertiK-Harvest.pdf
Supported chain: Polygon

Summary

This proposal aims to integrate the first Bitcoin iBT to APWine. Balancer and Harvest have been collaborating for a long time now by launching a series of vaults on Harvest which allow yield farmers to boost their yields earned on Balancer.

APWine seems like a natural evolution of yield farming for the Balancer<>Harvest duo.

Rationale

I’d like to propose the addition of Harvest’s iBT token for the Balancer:BTC farm to the upcoming winelisting event. This proposal will engage both Balancer & Harvest communities to vote on it and spread the news about APWine and the possibility to fix yield on Bitcoin for the first time in DeFi.

Benefit of this integration for Balancer & Harvest:

  • Deepening of the WBTC:renBTC pool on Balancer
  • New use case for Harvest’s iBT

Benefit of this integration for APWine DAO:

  • Increase the tokenized TVL and the AMM TVL
  • Diversify the yield possibilities for APWine community
  • Increase the visibility of the project with cross marketing
  • APWine to become the first yield protocol to offer fixed yield on Bitcoin
  • Opens door to more IBTs that spawn out of Harvest x Balancer collab

Balancer Metrics:
Market cap: $149M
TVL: $3.2B
Twitter community: 121k
Discord community: 20k

Harvest Metrics:
Market cap: $69M
TVL: $250M
Twitter community: 62k
Discord community: 1500

Community poll:

  • Add Harvest’s iBT for Balancer:BTC farm to the winelisting vote
  • Don’t add add Harvest’s iBT for Balancer:BTC farm to the winelisting vote
  • Abstain

0 voters

3 Likes

This should be yelled from the rooftops on Twitter, Fixed Yield for Bitcoin that’s not based in debt tranches or prime bank loans on a centralized exchange?!?!?!?!? I heavily support its addition to the third winelisting as this would be heavily utilized by many different defi users. :muscle: :muscle:

2 Likes