Add new STG/USDC and STG/FRAXBP gauges to the gauge controller

Gauge Proposals
#1

Summary:

The Stargate Finance team has shared that Stargate faces a significant threat to its POL and token holders because of potential security issues within Alameda Research (Alameda). As a result, Stargate will reissue STG on 15 March 2023 via a contract swap, so the current STG will no longer power Stargate. As described in the token migration post linked above, STG will undergo a token migration on March 15th. Tokens deposited in Curve pools will become worthless post-migration, so LPs in these pools must withdraw their tokens before the migration on March 15th.

The following proposal by WormholeOracle addresses the killing of the existing STG/USDC and STG/FRAXBP gauges.

This proposal seeks to add the gauges for the reissued STG/USDC and STG/FRAXBP curve pools to the gauge controller.

References/Useful links:

Link to:

Protocol Description:

Stargate is a community-driven organization building the first fully composable native asset bridge, and the first dApp built on LayerZero.

Stargate’s vision is to make cross-chain liquidity transfer a seamless, single transaction process.

Describe the proposed asset(s)

STG is the governance token of Stargate Finance that is tradeable on Curve and other trading venues. FBP is a basepool of FRAX and USDC on Curve.

Motivation:

Stargate Finance has gauges on its existing STG/USDC and STG/FRAXBP pools. As Stargate will be migrating token contract, Stargate is proposing for the gauges for the reissued STG/USDC and STG/FRAXBP curve pools to be added to the gauge controller. This will allow for STG liquidity to continue to be bootstrapped on Curve.

Specifications:

  1. Governance:
    Stargate DAO is currently using snapshot for Governance: Snapshot
    Multisigs employed by Stargate DAO can be found here

  2. Oracles:
    No oracles used

  3. Audits:
    Audit Reports can be found here

  4. Centralization vectors:
    No centralization vector

  5. Market History:
    New STG-USDC and STG-FRAXBP pools have recently been launched and have yet to be seeded