Proposal to add ION/superOETHb to the Gauge Controller

Gauge Proposals
#1

Summary:

Proposal to add ION/superOETHb to the Gauge Controller.

Ionic Protocol is an OP Superchain-native modular, composable money market. Ionic is the first and only lending protocol to deploy a fully functional cross-Superchain veToken model which aligns incentives between all market participants to create a rewarding flywheel.

Together with superOETHb Yield Forwarding we want to create a rewarding flywheel for ION/superOETHb LP, and add the LP position as the base layer for our veTokenomics on Base.

References/Useful links:

superOETH:

Ionic Protocol:

On Curve:

Protocol Description:

Ionic Protocol is an OP Superchain-native modular, composable money market.

Ionic is highly focused on security, with real-time transaction verification, constant risk monitoring, and dynamic parameter adjustments. Ionic allows isolated pool creation with multichain liquidity supply vaults to ensure sufficient borrowing liquidity against any type of collateral, isolating risk and increasing capital efficiency.

The $ION token is at the centre of this vision.

Motivation:

Ionic seeks to increase its presence in Curve ecosystem. Ionic is new to the Curve ecosystem but are interested in the flywheel and want to add it as key pillar of our own tokenomics (those wishing to participate in Ionic governance need to LP and stake Curve ION/superOETHb LP).

Adding this pool to the Curve Gauge Controller, liquidity providers will earn CRV rewards, creating an attractive incentive for participation and a base layer yield for Origin and Ionic users.

Specifications:

  1. Governance: Ionic introduced ve3,3 tokenomics for lending & borrowing markets. veION token holders vote on emissions distribution across markets between different chains here here

  2. Oracles: N/A

  3. Audits: You can see audit here.

  4. Centralization vectors: Ionic is a decentralized money market protocol with all the necessary multisigs set ups.

  5. Market History: ION is a multi-chain token, released in May 2024, and been actively traded ever since.

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