(Posting on behalf of a member from Curve’s telegram channel, this is not my own proposal)
This proposal aims to increase on-chain liquidity for CRV and use cases of veCRV by creating a new gauge that rewards Uniswap/Sushiswap/Mooniswap LPs (CRV:ETH).
(1) Create a new gauge for Uniswap LPs to deposit LP token.
(2) Direct 10% of daily inflation to that gauge (76k CRV per day) or based on weekly gauge weight vote
CRV is currently facing strong selling pressure due to lack of on-chain liquidity. Currently, there is around 650k USD worth of liquidity on Uniswap. And these LPs taking a lot of risk, and get zero CRV reward. We should create a gauge for them deposit their LP tokens to earn CRV, this will also encourage daily mined CRV to be added into Uniswap to earn more trading fees (currently around 500% APY). Yes, Uniswap LPs for CRV:ETH are earning high APY.
Rewarding Uniswap LPs will likely increase CRV’s on-chain liquidity, and stabilize CRV’s price, because miners can now earn both fee from Curve and Uniswap.
Instead of selling CRV, we now have an additional place to use those sweet CRV, by providing liquidity on Uniswap.
Reward Uniswap LPs with CRV by creating a new gauge for them deposit LP token.
The implementation of this proposal will require a creation of a new gauge.
Aligns interest across $CRV stakeholders and create incentive to add on-chain liquidity for $CRV to stabilize the price.
Will add a signal vote later