VDP-159: Bridge VITA to Solana

Proposals
1

TL;DR:

  • Bridge VITA token to Solana via Wormhole
  • Deploy VITA SPL token contract on Solana
  • Convert non-strategic assets to SOL
  • Rebalance LPs from other chains according to market needs
  • Establish VITA-SOL liquidity pool on Raydium
  • Deploy up to $1,000,000 for initial liquidity (SOL+VITA)

Team: Web3 Pod

Summary

This proposal seeks to expand VITA to Solana by establishing token presence and liquidity. Currently, VITA operates on Ethereum mainnet, Base, and Optimism. Adding Solana support will increase token accessibility and ecosystem reach.

Rationale

  1. Network Growth:
  • 30M+ active accounts on Solana
  • $4B+ TVL across Solana DeFi
  • 65B+ total transactions processed
  1. DeSci Movement:
  • Recent DeSci projects crossing $100M+ in volume
  • Growing institutional presence in biotech/longevity
  • Active research communities migrating to Solana
  1. Market Opportunity:
  • Rising TVL in cross-chain bridges
  • Increasing demand for Solana-based science tokens
  • Strategic timing with Solana DeFi/DeSci expansion

Technical Implementation

  1. Deploy VITA Token Contract on Solana:
  • Create SPL token contract
  • Implement Wormhole bridge integration
  • Deploy token bridge smart contracts
  1. Liquidity Set-Up:
  • Convert non-strategic assets in the treasury to SOL
  • Rebalance LPs from other chains according to market needs
  • Set up Raydium VITA-SOL pool
  • Configure initial trading parameters
  • Set up price impact limits
  • Deploy up to $1m worth of VITA+SOL (1:1 ratio)

Budget

  • Up to $500,000 worth of non-strategic assets will be converted to SOL for initial liquidity provisioning
  • Agree
  • Revisions Requested (Detail in Comments)
  • Disagree
0 voters
3 Likes
2

I definitely see a huge benefit migrating to Solana. A lot of attention going on there, especially with how the DeSci space has been evolving on there. VITA should not be left out.

2 Likes
3

I agree with creating a VITA-SOL pool on Raydium. Raydium ranks third in DEX trading volume after Uniswap and PancakeSwap, and its transaction fees are significantly lower than Uniswap’s. This will greatly enhance accessibility to the VITA token."

2 Likes