Summary:
Kill CRV gauge emissions to crvUSD/sDAI, USDR/3CRV on Polygon, and aCRV/CRV on Polygon by calling
set_killed.
Abstract:
This is a batched kill vote for gauge cleanup, these should not be controversial as each pool is unviable for reasons described below.
Motivation:
crvUSD/sDAI - The oracle was misconfigured upon pool deployment, requiring a redeployment of this pool.
USDR/3CRV - This pool uses an outdated version of the USDR token. Furthermore, USDR has recently experienced issues with its reserves and the team has said they will deprecate the USDR token.
aCRV/CRV - The aCRV token uses Multichain for bridging. The bridge experienced an exploit earlier this year and the platform is not operational, making this pool nonviable.
Specification:
Actions:
X_CHAIN_PROXY = “0x017dB2B92233018973902858B31269Ed071E1D39”
STABLESWAP_PROXY = “0x768caA20Cf1921772B6F56950e23Bafd94aF5CFF”ACTIONS = [
#kill sDAI/crvUSD
(STABLESWAP_PROXY, “set_killed”, “0x2B5a5e182768a18C70EDd265240578a72Ca475ae”, True),
#kill USDR/3CRV Polygon
(X_CHAIN_PROXY, “set_killed”, “0x875CE7e0565b4C8852CA2a9608F27B7213A90786”, True),
#kill aCRV/CRV Polygon
(X_CHAIN_PROXY, “set_killed”, “0x681EE77c66C43b80298c6Cc5a1611e69293daB81”, True)
]
crvUSD/sDAI
The CurveStableSwap2Prices implementation has support for tokens with rate oracles, allowing for the stableswap pool to concentrate liquidity around the oracle rate. The pool deployment is slightly more involved, requiring the pool deployer to call
set_oraclesand specifying the contract address and method ID to read the token rate oracle. After setting oracles, the configuration is immutable. In this instance, the oracle was misconfigured and requires a pool migration. LPs should remove liquidity from this pool and veCRV voters should not continue allocating gauge weight to this pool.
USDR/3CRV
As per the announcement in July, there was a token migration for USDR. Tangible had previously migrated liquidity from Curve to Pearl, and there has been no USDR redeployment to Curve with the updated token.
Curve pool USDR token address: 0xb5dfabd7ff7f83bab83995e72a52b97abb7bcf63
USDRv3 token address: 0x40379a439D4F6795B6fc9aa5687dB461677A2dBaFurthermore, a recent bank run on USDR reserves has led to liquidity issues for Tangible to honor redemptions, causing USDR to experience a severe depeg and the Tangible team announced they would be pivoting the protocol and deprecating the USDR stablecoin. USDR has been consistently trading below $0.60 since the depeg on Oct. 11.
aCRV/CRV
aCRV is an autocompounding cvxCRV wrapper by Concentrator from AladdinDAO.
Gauge proposal: Proposal to add CRV/aCRV on Polygon to the Gauge Controller
aCRV is still an active product on mainnet, but the Polygon token was bridged by Multichain, the token contract being an AnyswapV6ERC20
aCRV polygon contract: https://polygonscan.com/token/0x89c90e480a39fbe3886bb5bd53ba5b1acc69d4fb#code
Multichain was exploited in July and the protocol is not operational. All Multichain bridged assets are nonviable, and most gauges involving Multichain bridged tokens have already been killed, this one being the only exception as far as I’m aware.