TerraUSD (UST) is an algorithmic, seigniorage-based stablecoin, issued on the Terra blockchain. It has had tremendous growth over the past three months moving from a market cap of 8B to 13.3B. UST. UST can be bridged to Avalanche through the Wormhole bridge. The pool on Avalanche has roughly 2m in liquidity and has 1.4m in daily volume which is quite great utilization in terms of volume/liquidity. UST pools exist on Pangolin and TraderJoe but Curve is a natural fit for concentrating stableswap liquidity. The UST-3CRV pools on mainnet already have gauges and have daily volumes of 30m.
As UST’s interchain expansion continues to Avalanche the importance of having thick liquidity on a premier stableswap DEX is critical. Wormhole UST will continue to be integrated with more and more DeFi applications on Avalanche and thus UST-USDC liquidity is vital during this rapid expansion phase. A gauge will help provide incentives on this useful pool and the Terra community pool will allocate a portion of it’s CRV/CVX for this pool.
Add Avalanche UST-USDC.e gauge to the controller.
Do not add Avalanche UST-USDC.e gauge to the controller.
We will create a poll shortly after measuring community feedback.