Proposal to add the SDT/FRAXBP pool to the Gauge controller to enable users to assign a gauge weight and mint CRV.
References/usefuls links for Stake DAO & Frax Finance:
Frax Finance is the first Fractional algorithmic stablecoin with 2.35B$ TVL to introduce the idea of fractional backing with a novel market-set mechanism to find the ideal collateral ratio.
Stake DAO is a non-custodial platform built on top of decentralized protocols that enables anyone to easily grow their crypto portfolio. The TVL of the protocol is above 50M$, spread out across chains where the Curve ecosystem is already present. Stake DAO launched months ago a feature that help accelerate the lock of CRV and other veTokens called the Liquid lockers. (medium post: Introducing Liquid Lockers & veSDT | by Stake DAO | Feb, 2022 | Medium 4)
The SDT/FraxBP pool (https://curve.fi/#/ethereum/pools/factory-crypto-135/deposit) has been live for several weeks and is now integrated into Paraswap, Rook and Cowswap. It is the only pool with stable coin liquidity for SDT and has $650k of liquidity seeded by Stake DAO. It already shows utilization in line with the TVL (compared to other SDT pools).
Stake DAO has used Curve for its liquidity since the launch of Curve v2, and would like to integrate the SDT in the Frax Base pool “network”.
If governance allows for this proposal to pass, Stake DAO will create the corresponding strategy and incentivise it with SDT, so that users can benefit from both SDT and CRV incentives.
- Yes, add SDT/FRAXBP to the gauge controller
- No, do not add SDT/FRAXBP to the gauge controller