Proposal to add agEUR - ibEUR 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, two months ago. It has become the biggest Euro stablecoin with 160m stablecoins issued and a TVL of $240m. The protocol can technically launch stablecoins pegged to any kind of asset, Euro being the first one.
The agEUR - ibEUR pool currently has €3m in it, it has been incentivized by the KP3R and the Angle Protocol with rKP3R and ANGLE tokens.
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.
On top of that ibEUR is a stablecoin with a soft peg, while agEUR has a hard peg and can be directly redeemed against USDC, DAI, FEI and FRAX. Putting agEUR in a pool with ibEUR could help stabilize ibEUR even more.
Minting agEUR is available on the Angle App.
Minting ibEUR is available on the Fixed Forex App
agEUR - ibEUR should have a gauge than can earn CRV
agEUR - ibEUR 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.