We are proposing to add new metapools for four stable coins. The metapools are as follow:
[GUSD, [3Pool]] => https://www.coingecko.com/en/coins/gemini-dollar
[HUSD, [3Pool]] => https://www.coingecko.com/en/coins/husd
[USDN, [3Pool]] => https://www.coingecko.com/en/coins/neutrino-usd
[USDK, [3Pool]] => https://www.coingecko.com/en/coins/usdk
This aims at completing the current stable offering of the Curve protocol by adding four more US Dollar stable coin.
GUSD was requested here: [Discussion] Adding support for Gemini GUSD
HUSD was requested here: [Discussion] - Add HUSD Pool to improve the stablecoin lego
Metapools allow for one token to seemingly trade with another underlying base pool. This means we could create for example the following pool: [GUSD, [3Pool]].
In this example users could seamlessly trade GUSD between the three coins in the 3Pool (DAI/USDC/USDT). This is helpful in multiple ways:
- Prevents diluting existing pools
- Allows Curve to list less liquid assets
- More volume and more trading fees for the DAO
The Metapool in question would take GUSD and 3Pool LP tokens. This means that liquidity providers of the 3Pool who do not provide liquidity in the GUSD Metapool are shielded from systemic risks from the Metapool.
This would add another three stables from the top 10 USD stable coins as well as USD Neutrino which provides cross-chain interoperability.