Add LCNY/FRAXBP to the Gauge Controller


This proposal aims to add the LCNY/FRAXBP pool to the Gauge Controller.

Incentivization to this pool will help drive liquidity for users who want to use decentralized and immutable CNY pegged stable in order to diversify their portfolio. Stable diversification will ultimately lead to rather healthier DeFi ecosystem.

By rewarding the LCNY/FRAXBP pool on Curve, we can boost the liquidity and attract more trading activity to the Curve ecosystem.

Gauge Address: 0x11F44b0Dc826945009c059F973528b70C11618D7

References/Useful links:

• Website –

• Documentation –

• Github Page –    

• Twitter –

• Telegram –

Protocol Description:

Alternity is a decentralized protocol built on the Ethereum blockchain, inspired by the design of the Liquity Protocol.

The protocol provide users with a stablecoin that is pegged to the Chinese Yuan, achieved by utilizing Ether as the required collateral. Loans are paid out in LCNY (a CNY pegged stablecoin) and need to maintain a minimum collateral ratio of 110%.

Alternity aims to cater to users who value diversification and seek alternatives to USD-pegged stablecoins.

As a protocol, Alternity is non-custodial, immutable, and governance-free.


Alternity Protocol is addressing the growing demand for a stable, decentralized, and Yuan-pegged financial instrument in the DeFi ecosystem. As the global economy continues to evolve, the need for diverse stablecoin options that cater to various markets becomes more evident.

Recognizing China’s growing influence and the rising importance of the Yuan, Alternity offers an alternative solution with a Yuan-pegged stablecoin, providing diversification, risk management, and a more robust DeFi ecosystem.

Alternity Protocol aims to establish a strong presence in both the Curve and Ethereum ecosystems by introducing a gauge for the new LCNY/FRAXBP pool. This strategic move is intended to position the pool as one of the key liquidity source for LCNY on Ethereum, while simultaneously boosting FRAX liquidity on Curve.


  1. Governance: Alternity has no governance. It is built to maximize trustlessness and decentralization.

  2. Oracles: Chainlink is Alternity’s primary oracle. They are the largest player in the oracle space, have an excellent track record, sufficiently decentralized, and they’re constantly improving their systems.
    Tellor is Alternity’s secondary (fallback) oracle. They’re fully decentralized — price data is requested, with a “tip” attached — and miners compete to push accurate data and win the tip. Inaccurate data is disputed, and the threat of stake-slashing incentivizes honest price reporting. More information.

  3. Audits: Alternity is a Liquity fork that has multiple security audits have been conducted by various auditors. All relevant documents are available here. Recently DeFi safety conducted the review of the Alternity and the protocol have successfully passed the security audit.

  4. Centralization vectors: There are no centralization vectors. Alternity is built to have maximized resilience.

  5. Market History: Alternity has limited history, as it is a new protocol in the process of bootstrapping. The protocol was launched on the 19th August 2023 and attracted more than 100 ETH in trove deposits. The success of LUSD has shown interest in this type of assets.