Proposal to add GEAR/ETH to Gauge Controller

This proposal is to add GEAR/ETH crypto pool to Gauge Controller. GEAR is a governance token for Gearbox Protocol. This would enable CRV emissions to GEAR LPs, as well as help the Gearbox DAO to structure its own LP rewards better.

References/Useful links:

Documentation: What Is Gearbox? | Gearbox Protocol Developer Docs
Github page: Gearbox protocol · GitHub
Gearbox DAO Discord: Gearbox Protocol ⚙🧰

Protocol Description:
Gearbox is a generalized leverage protocol: it allows anyone to take leverage in a DeFi-native way and then use it across various DeFi protocols. You take leverage with Gearbox and then use it on other protocols you already love. For example, you can leverage trade on Uniswap, leverage farm on Yearn or Curve and Convex, make complex delta-neutral strategies involving options and derivatives, get Leverage-as-a-Service for your structured product doing complex positions, etc.

The protocol has two sides to it: passive liquidity providers who earn higher APY by providing liquidity; - and active traders, farmers, or even other protocols who can borrow those assets to trade or farm with x4+ leverage.

GEAR is a governance token for Gearbox protocol. GEAR liquidity was launched on Dec 12th with a novel mechanism called Cider’ed Liquidity (learn more here). Using Cider’ed Liquidity, the Gearbox DAO attracted $8M worth of liquidity in the GEAR/ETH pool and generated ~$5k admin fees in just 2 days of the FairTrading period. Since the start of FairTrading, the price fluctuated around the $0.03 mark.

Currently, the GEAR/ETH crypto pool is the only pool where GEAR can be traded. Setting up a gauge will help deepen GEAR liquidity and make GEAR rewards to LPs more transparent, since currently the DAO has to reward LPs through a Merkle tree distributor contract.

Governance: Currently, the governance is comprised of a Discord channel for discussions, a snapshot page used for voting, and two multisigs: the Technical Multisig and the Treasury Multisig. The technical multisig has control over protocol settings and risk parameters, while the treasury multisig has direct control over DAO treasury. There are tentative plans to switch multisigs for Governor Alpha (or a similar system) in the future.

Oracles: The protocol relies on Chainlink oracles for borrower health calculations. See here for detailed explanation.

Audits: Both V1 and V2 of the protocol were audited by several security firms, and there is an active Immunefi bug bounty. Details here.

Centralization vectors: Currently, the technical multisig can be considered the closest to an actual point of centralization, since it is able to change risk parameters and allow new contracts to be used in the system. However, the technical multisig is comprised of a diverse group of builders well-known in the space.

Market history: The GEAR/ETH market has been live for 2 days with ~$8M of liquidity, and is currently in the FairTrading stage, i.e., trading directly through a Curve is not possible until Dec 23rd (since the token is not transferable), and GEAR is bought and sold through a special proxy contract with additional rules.

Since pool creation, the market has experienced moderate volatility, but the price has been generally fluctuating in the $0.028-$0.032 range, slightly above the clearing price of the preceeding liquidity bootstrapping phase.



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