Proposal to add crUSDT/crUSDC/crDAI pool on Ethereum to the Gauge Controller

Gauge Proposals
#1

Summary:
Proposal to add crUSDT/crUSDC/crDAI pool on Ethereum to the Gauge Controller

References/Useful links:

Protocol Description:

C.R.E.A.M. Finance is a decentralized lending protocol. It operates as a permissionless, open-source, and blockchain-agnostic platform, catering to users on Ethereum, BNB Chain, Polygon, and Arbitrum. Users can lend CRV and ETH on our markets, utilizing them as collateral to borrow assets such as USDT, USDC, DAI, and other supported tokens.

Motivation:

Additional pools facilitate increased liquidity, improved trading efficiency, and enhanced arbitrage opportunities among the pools. The cr*tokens represent currently dormant assets like DAI, USDC, and USDT, which can be utilized to augment trade depth, volume, and overall liquidity. Moreover, liquidity providers can also accrue extra yield on their supplied funds from the borrowing activities on CREAM’s money market.

Specifications:

  1. Governance: C.R.E.A.M. Finance is governed by iceCREAM holders via Snaphot votes. Participants can lock their CREAM tokens for durations ranging from 1 week to 4 years, consequently receiving iceCREAM, which is non-transferable and non-tradeable. In addition, the admin multisig 0x6D5a7597896A703Fe8c85775B23395a48f971305 holds the power to upgrade contracts.

  2. Oracles: Price feeds are provided by Chainlink

  3. Audits:
    – MixBytes:https://github.com/mixbytes/audits_public/blob/master/C.R.E.A.M.%20Finance/Compound%20Protocol/README.md
    – Trail of bits: https://medium.com/cream-finance/trailofbits-audit-202101-en-291bdb904d32

  4. Centralization vectors:
    – Price oracle: provided by Chainlink
    – Liquidations: decentralized with the same mechanism as Compound V2

  5. Market History: It was recently launched and only seeded with a very low amount of liquidity. If the gauge is approved, the C.R.E.A.M. Finance treasury aims to transfer its existing USDC and USDT assets, presently supplied into the C.R.E.A.M. Finance lending market, to this Curve pool. Subsequently, strategic initiatives will be undertaken to allure liquidity from external providers.

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