# Business Development SP - April 2024 Update **URL:** \ **Category:** Service Providers\ **Created:** [May 1, 2024, 7:27pm UTC](https://forum.balancer.fi/t/business-development-sp-april-2024-update/5734 "2024-05-01T19:27:29Z")\ **Posts on this page:** 1\ **Page:** 1
**Author:** ![lipman](https://yyz1.discourse-cdn.com/flex027/user_avatar/forum.balancer.fi/lipman/32/3015_2.png) [@lipman](https://forum.balancer.fi/u/lipman)\ **Post date:** [May 1, 2024, 7:27pm UTC](https://forum.balancer.fi/t/business-development-sp-april-2024-update/5734/1 "2024-05-01T19:27:29Z")
April has continued the pace of progress from Q1 and the BDSP is progressing against all of its key milestones. Below is a recap and updates for the key [Q2 objectives](https://forum.balancer.fi/t/bip-569-business-development-service-provider-funding-proposal-for-q2-2024-and-retroactive-q1-2024-funding/5615). 1. Initiate the launch of new chains: - Finalize the selection of chains for Balancer’s launch. **Done ([Linea](https://forum.balancer.fi/t/bip-588-deploy-balancer-on-linea/5696/3), [Mode](https://forum.balancer.fi/t/bip-589-enable-balancer-deployment-into-mode/5681/3), and Fraxtal)** - Conclude agreements with the chosen chains, including incentive structures, seeding liquidity, co-marketing, etc. **Finishing final details.** - Collaborate with engineering, Maxis, and marketing teams for the deployment on these new chains. **In progress. Current expectation is mid Q2 launch.** - Establish a comprehensive partnership network and ecosystem on the new chains, encompassing liquidity providers, yield-bearing assets, lending protocols, etc. **In progress** - Complete grant applications and administrative tasks necessary to secure incentives and other advantages from the new chains. **In progress** 1. Enhance presence on existing chains: - Develop, coordinate, and execute growth initiatives on Layer 2 solutions for existing chains, focusing on Arbitrum, Optimism, and Base networks. - **Base examples** - **In discussions with Base defi team about strategic ways to grow Balancer** - **Bringing new partners to Base (e.g. Etherfi, sfrxETH, sDAI, etc.)** - **OP examples** - **Applying for OP grant to grow LSTs/LRTs on OP.** - **Bringing new partners to OP (e.g. Kelp, sDAI, etc.)** - **Arbitrum examples** - **Applying for STIP Bridge grant program (potential 600k ARB for incentives)** - **Bringing new partners to Arbitrum (e.g. Ethena, jitoSOL, Gyro rehype pools, etc.)** - Expand the yield-bearing thesis initiative. **In progress. In addition to those mentioned above, new gauges have been approved for pufETH (puffer) and mstETH (Eigenpie). Rate provider reviews are under way for multiple additional LST/LRT pools across chains.** - Launch new pools for LSTs and LRTs on mainnet. **Eigenpie and pufETH. Finalizing agreement with Liquid Collective for Balancer to become first permissionless protocol for lsETH.** - Introduce new pools for yield-bearing stablecoins. **sDAI / aUSDC on OP, sUSDe on ARB and ETH** - Bring LST/LRT partners to new chains where Balancer is deployed In progress. **See OP/ARB/Base discussion above.** 1. Extend the ve8020 governance initiative. **In progress**. - Explore ve8020 collaborations with pre-token projects, such as LRT projects. - Promote ve8020 to projects with existing tokens. 1. Manage the application, monitoring, and execution of the Optimism grant program. **[Application is complete](https://app.charmverse.io/op-grants/page-7483023484917983). Grants should be awarded by May 8th.** 2. Streamline partner onboarding: **Cross-functional project team has been created to complete this work** - Find ways to reduce friction in partner onboarding processes. - Iterate on the notion pack, created by Marketing, to highlight the benefits of Balancer and guide new partners through the onboarding process. - Collaborate with a small project team, including design, marketing, and Maxis, to rethink the partner onboarding process, potentially introducing a self-service UI. - Evaluate CCIP with Chainlink and implement it if necessary to streamline the rate provider onboarding process. 1. Prepare for v3 launch and seek partnerships: **Lipman is leading a cross-functional team for v3 GTM / partnership activity. This activity spans more than just the 3 bullets below (e.g. aggregator support)** - Seek integrations and partnerships in anticipation of the v3 launch. - Collaborate with the Maxis to identify innovative use cases for exploration. - Reach out to projects to present the v3 opportunity and establish partnerships ahead of the launch. 1. Continue ad hoc outreach to projects, exploring new partnerships and opportunities. **- Examples include:** - **Friendly fork on SEI approved ([Jellyverse](https://forum.balancer.fi/t/bip-590-jellyverse-friendly-fork-proposal/5695))** - **Joined twitter spaces for Monad and Mode to discuss Balancer** - **Aggregator/solver support for v3 (began discussions with 1inch, Paraswap, OTEX, Odos, Barter, 0x Labs, Kyber, etc.)** - **Peapods finance in discussion with Gyro** - **New pools being discussed with Aspida, Badger, Claystack, Stakestone, sFRAX (zkevm), Inception, USDM, Maple Finance, Origin, etc.** - **Joined Mode’s $10m incubator program funded by Mode network as a partner to have projects build on Balancer** - **Turtle Club - helping partners such as GHO and Kelp secure liquidity through TC network** - **Co-developed better system and communication with marketing** All of the above is a team effort. Hats off to the various SPs and working groups for their support in helping grow Balancer.