Summary
This proposal seeks community support to transfer weETHs into Zircuit staking contract on Ethereum. The initiative aims to expand product offerings on Fluid to enhance the protocol’s competitiveness and market positioning.
Proposal
- Transfer weETHs into Zircuit staking contract on Ethereum to obtain a 1X boost on Zircuit points.
Motivation
The motivation for this proposal is to allow weETHs suppliers to get 1X Zircuit points on top of the 3.5X EtherFi, 3x Veda, and 1X Symbiotic points.
Given the success of the last proposal to transfer weETH to Zircuit staking contract, adding extra benefits for Fluid users will have a positive impact on Fluid markets.
Zircuit staking contract does not have an unstaking period, it can not be frozen and the funds can not be auto-migrated to Zircuit when the mainnet is launched therefore weETHs depositors on Fluid do not face any significant risks.
Result
weETHs liquidity from the Liquidity Layer will be transferred to the Zircuit Staking contract on Ethereum to allow users to earn extra points. An on-chain vote is required from governance to finalize and approve this proposal.