Summary
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 $13.9B. UST can be bridged to Fantom through the Wormhole Bridge. Being a relatively new pool, the pool on Fantom has roughly 3m in liquidity. With proposal for liquidity incentives for UST on Fantom passed and going live in the very near future, UST demand will soar, and the pool is expected to have a great utilization rate. The UST-3CRV pool on mainnet already has gauges and has liquidity utilization of ~55%.
Motivation
As UST’s interchain expansion continues to Fantom the importance of having deep liquidity on a premier stableswap DEX is critical. Wormhole UST will continue to be integrated with more and more DeFi applications on Fantom and thus UST-USDC-USDT liquidity is vital during this rapid expansion phase. A gauge will help provide incentives on this useful pool and the Terra community pool will also allocate a portion of its CRV/CVX for this pool.
For
Add Fantom UST-USDT-USDC gauge to the controller
Against
Do not add Fantom UST-USDT-USDC gauge to the controller
Voting
We will create a vote shortly after measuring community feedback.