Summary:
Proposal to add agEUR - ibEUR Factory Pool to the Gauge Controller to enable users to assign gauge weight and mint CRV.
Abstract:
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.
ibEUR is the Euro stablecoin of the Fixed Forex protocol
There are currently 120m ibEUR in circulation.
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.
Motivation:
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.
Specification:
Everything within the Angle Protocol can be tracked in the Analytics. For more details about the protocol, you can also refer to this docs and this developers doc.
Minting agEUR is available on the Angle App.
Minting ibEUR is available on the Fixed Forex App
For:
agEUR - ibEUR should have a gauge than can earn CRV
Against:
agEUR - ibEUR should not have a gauge that can earn CRV
Poll:
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.