LQIP - 4 - Enable $LUSD pairs on Mean Finance for decentralized dollar cost averaging [5000 USD]

LQIP - 4 - Enable $LUSD pairs on Mean Finance for decentralized dollar cost averaging [5000 USD]

1. Goals

Enable $LUSD/$WBTC and $LUSD/$WETH pairs in Ethereum Mainnet on Mean Finance.

2. Benefit & Impact

Enabling $LUSD on Mean Finance would:

  • Enable a new way for users of passively investing while using their favorite decentralized stable-coin to dollar cost average into and out of $WETH and $WBTC
  • Increase liquidity on money markets like Euler and Aave v3. This happens as a byproduct of Mean Finance allowing users to earn yield on their idle funds waiting to be swapped or withdrawn on yield-bearing platforms.
  • Liquitiy’s awareness and $LUSD in Mean Finance’s community
  • Expand reach to the LATAM community

3. Context

Mean Finance is a protocol that aims to abstract the inherited complexity from decentralized investment tools, making it accessible for every day users to use these new financial primitives without sacrificing decentralization or privacy in the process of doing so.

Right now our flagship product is a decentralized DCA that allows users to gain exposure to different projects across the web3 ecosystem in a mindful, responsible and long-term way.

Moreover, on Mean Finance users only pay for deposit, withdraw and interactions with their position but they do not pay for the gas costs of daily trades; this obviously is a massive feature on Ethereum mainnet. Look at the gas cost saved on daily trades on this position!

However, executing daily trades on Ethereum mainnet has some operational cost that a bootstrapped project like us can’t cover. We are currently leveraging the Keep3r Network protocol to cover costs on Ethereum mainnet for current pairs (tldr; you lock full-range liquidity on kp3r/eth pair and they grant you an emission of $kp3r to reward keepers for executing a job). As a side-note here, we’ve already enabled $LUSD on Optimism, since we are able to cover the costs.

The idea behind this proposal is to use all granted funds in order to get the KLPs necessary to cover the costs of enabling $LUSD/$WBTC and $LUSD/$WETH, including pairs with yield-generation enabled. No frunds received from the grant will be directed at / or taken as profit from the Mean Finance team.

4. Scope & Deliverables

  • Receive grant funds
  • Buy 50% $ETH and 50% $KP3R
  • Mint and assign KLPs to DCAKeep3rJob on the Keep3r network
  • Enable $LUSD token on Mean Finance
  • Deploy ERC4626 Euler Adapter for $LUSD (enables yield-generation for $LUSD on Mean Finance)
  • Enable $LUSD/$WBTC, $LUSD/$WETH pairs
  • Execute co-marketing campaign

5. Timeline

Once funds are received the ETA would be under 2 weeks.

6. Dependencies

  • Dexes to source liquidity of $LUSD from
  • LUSD/USD Chainlink feed
  • Keep3r network
  • Euler pool for yield-generation

7. Ask & Payment

We are asking for a total amount of 5000 USD to buy sufficient $KLPs in order to sustain the operational costs indefinitely of the two pairs, taking into consideration the following variables:

  • How Keep3r network algorithm grants credits
  • Different gas costs
  • $KP3R prices

Payment should be sent to ethereum.mean-finance.eth

8. References & Useful Links


This proposal has passed. And with that, we’ve already moved the funds, so wanted to put everyone up to date:

  1. We’ve converted the LUSD to WETH and KP3R and mint the needed KLPs

  2. Added the KLPs to the DCAJob

We will be creating the wrapper for $LUSD on Euler soon, and enabling the $LUSD asset shortly!