Treasury Proposal: DOT Liquidity Grant for SoneVibe Money Market – Bootstrapping DOT on Astar EVM and Soneium L2 with Chainlink CCIP Bridge and Perpetual Burn

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Treasury Proposal: DOT Liquidity Grant for SoneVibe Money Market – Bootstrapping DOT on Astar EVM and Soneium L2 with Chainlink CCIP Bridge and Perpetual Burn.

Proposer:13XwLyHAQTP1wZoAzewG9emMuA5BZJyfbGF2zF8QZTUkCzDD

Requested Amount: 27,500 DOT (~50,000 USD equivalent at current market prices)
Beneficiary: 13XwLyHAQTP1wZoAzewG9emMuA5BZJyfbGF2zF8QZTUkCzDD

Sone Vibe: VIBE Finance | The Future of Lending

Summary

SoneVibe Finances (SoneVibe) is a decentralized money market protocol (lending/borrowing + swap) live on Astar EVM (Polkadot parachain L1) and Soneium (Sony-backed OP Stack L2). We already support DOT natively on Astar EVM (DOT/ASTR swap pair active, DOT lending with USDT from Asset Hub) and seek modest Treasury support to:

  • Deepen DOT liquidity on Astar EVM pairs.

  • Bridge and list DOT on Soneium via Chainlink CCIP exclusively.

  • Create DOT/USDC (and USDSC) pairs in our swap + lending markets.

  • Implement perpetual 0.1% burn on DOT LP rewards.

This small grant will seed ~50,000 USD in initial TVL, significantly expanding DOT’s cross-chain utility while introducing deflationary pressure and new flow machinery.

Background & Current Status

  • Deployments: Live on Astar EVM and Soneium mainnet.

  • Existing DOT Support:

    • Astar EVM: DOT/ASTR swap pair active; DOT lending market (with USDT from Asset Hub).

    • Soneium: ASTR/USDC swap; lending with ASTR, Startale USDSC, USDC.

  • Tokenomics: Native $VIBE token (1M hard cap, real yield from protocol fees).

  • Vision: Make SoneVibe a core DeFi hub for Polkadot assets in consumer-focused L2s.

Objectives & Polkadot Ecosystem Benefits

  1. Deepen DOT Liquidity on Astar EVM:

    • Add liquidity to existing/new DOT pairs (example DOT/ASTR, DOT/USDT)…

    • Boost on-chain volume on Polkadot L1 parachain.

  2. Expand DOT to Soneium via Chainlink CCIP:

    • Exclusively use Chainlink CCIP for secure, decentralized bridging from Astar EVM to Soneium.

    • List DOT/USDC (and DOT/USDSC) pairs in SoneVibe Swap.

    • Add DOT as collateral/borrowable in lending markets.

  3. Cross-Chain Machinery with DOT as Core Asset:

    • Drive increased XCM transfers: Native DOT from Asset Hub → Astar EVM (via XCM) → bridge to Soneium via Chainlink CCIP.

    • Enable reverse flow: Soneium → Astar EVM → back to Asset Hub and Hydration (for further DeFi composability).

    • This creates a seamless cross-chain loop, increasing DOT transaction volume, XCM usage, and overall network activity across Polkadot ecosystem projects.

  4. Additional Benefits for Polkadot from Listing on Sony Blockchain (Soneium):

    • Exposure to mass adoption via Sony’s consumer ecosystem (gaming, entertainment, social apps).

    • Bring native DOT utility to Ethereum-compatible L2 users, attracting new holders and developers.

    • Position Polkadot assets in high-growth consumer DeFi, aligning with real-world adoption goals.

  5. Perpetual Deflationary Mechanism for DOT:

    • On-chain logic in reward contracts (both chains): Automatically burn 0.1% of all DOT-denominated LP rewards.

    • Sent permanently to burn address (0x000…000 or 0xdead…dead).

    • Scales with adoption, creating ongoing deflationary pressure directly benefiting DOT holders.

Expected Outcomes:

  • Initial TVL boost: ~50k USD in DOT-locked liquidity.

  • Higher XCM volume and cross-chain flows.

  • Deflationary contribution + mass-market exposure via Sony ecosystem.

Funding Breakdown (27,500 DOT)

  • 15,000 DOT: Liquidity provision on Astar EVM (DOT pairs + lending reserves).

  • 12,500 DOT: Chainlink CCIP bridging + liquidity on Soneium (DOT/USDC pairs, lending markets).

  • 100% allocated to on-chain liquidity (fully transparent via explorers).

Milestones & Transparency

  1. Month 1: Enhanced Astar EVM liquidity + Chainlink CCIP integration and initial Soneium DOT listing. Report TVL/XCM metrics.

  2. Month 2: Full Soneium DOT markets live + burn mechanism activated. On-chain proof.

  3. Ongoing: Quarterly reports on TVL, volume, XCM transfers, burns (via explorers/Dune).

  • All transactions public on beneficiary wallet.

Why Treasury Support?
This modest request aligns with Polkadot’s liquidity initiatives while delivering outsized benefits: cross-chain machinery, Sony ecosystem exposure, and perpetual DOT burn. It bootstraps sustainable growth for native DOT in emerging L2s.

Thank you!
Dennis
@Real_Dennis_S_F on X.https://x.com/Real_Dennis_S_F
Telegram: .@Real_Dennis_S_F

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