We propose to incorporate The RSK Market.
This work will completely be done by RSK devs. We will only ask Aave to be close to the RSK team to incorporate their experience. RSK already has done an integration with Chainlink, and we use the TokenBride to link both blockchains using LINK to pay Chainlink´s Node Operators.
We will intensively work first on testnet, and once quality/security is done, will move it to production. This could be done in a short period of time.
Now that Aave aTokens can be exported, as an example of things that could be done, we can use this tool and have customers on each blockchain doing business on both sides, something that never was done before.
*An Aave approach to the Bitcoin world.*
What is RSK?
RSK’s full technology stack is built on top of bitcoin: From RSK smart contracts to the RSK Infrastructure Framework. The stack is designed to create a more fair and inclusive financial system.
Bitcoin, is a store and transfer of value. The blockchain is secure because miners with high infrastructure and energy costs create the new blocks to be added to the blockchain every 10 minutes. The more hashing power they provide, the more secure the network is.
RSK is the first open source smart contract platform that is powered by the bitcoin network. RSK’s goal is to add value and functionality to the bitcoin ecosystem by enabling smart-contracts, near instant payments, and higher-scalability.
How RSK is connected to bitcoin?
The first point of contact is through mining.
The bitcoin miners do what is known as merged mining, securing both networks with the same infrastructure and energy consumption.
They create blocks on the bitcoin network every 10 minutes, including transfer of bitcoin from different addresses and in the process they create new bitcoins.
On RSK, blocks are created every 30 seconds, to secure the execution of smart contracts. This does not mint any new coins in the process, but does earn a reward from the merged mining.
2-way peg with Bitcoin
The second point of contact is the 2-way peg, also known as the bridge.
This component connects both networks to allow the transfer of bitcoins to RSK, thereby allowing developers to interact with smart contracts. They pay gas using the same bitcoin, the smart bitcoin.
We propose a new idea, which is to create a Market that incorporates new customers that are not using Aave. We will bring to the table new customers that will bring new business and liquidity from the bitcoin world that look the DeFi platforms differently.
This new Market will not bring or add new risks to the platform, but anyway we will keep security on top of priority.
We will bring together with our proposal, all new tokens that are already on RSK Marketplace natively that will increase the liquidity and opportunities for both companies.
Our business proposal is simple and synergic, nothing to loose, a lot to gain. We ask you Aave Governance community to give us a Go and allow us to show you what we could do.
Thank you for reading and giving us a feedback.