Proposal to add 3EUR Factory Pool to the Gauge Controller to enable users to assign gauge weight and mint CRV.
Angle is a decentralized stablecoin protocol. It was designed to be both capital-efficient and over-collateralized. The protocol has launched agEUR, a Euro stablecoin, a couple of weeks ago. It has become the biggest Euro stablecoin with 112m stablecoins issued and a TVL of $180m. The protocol can technically launch stablecoins pegged to any kind of asset, Euro being the first one.
agEUR is currently backed by USDC and DAI and will soon be backed by FEI and FRAX as collateral types. It is minted at oracle value, and can then easily be arbitraged whenever the price deviates from peg: the token has tightly kept its peg since its launch.
The Angle team has been incentivizing the pool with ANGLE tokens. The pool now has €4.4m in it.
A gauge that earn CRV would boost the liquidity in the pool and hence of Euro stablecoins, enabling them to be more useful and integrated in DeFi. Currently in DeFi, European users are exposed to a change risk when they are trying to get yield, having powerful Euro stablecoins is the first way to change this.
Curve’s value proposition is to pair stablecoins that need peg and liquidity with stablecoins that have both. agEUR with its technically infinite liquidity and peg could also help EURs and EURt grow as stablecoins.
This 3EUR pool could also become a Euro equivalent of the 3pool, as the epicenter for the exchange between Euro stablecoins.
Minting agEUR is available on the Angle App.
3EUR should have a gauge than can earn CRV
3EUR should not have a gauge that can earn CRV
The proposal has not already been created, the gauge has however been deployed (Etherscan.
The goal of this post is more to measure the community’s feeling about adding a gauge for this pool. Proposal should be created soon.