Proposal to add TricryptoLLAMA pool to the Gauge Controller

Gauge Proposals
#1

Summary:

Curve DAO, Threshold DAO, and Lido DAO intend to co-incentivize the newly deployed TricryptoLLAMA pool, which consists of crvUSD, tBTC, and wstETH.

• Pool 0x2889302a794da87fbf1d6db415c1492194663d13
• Gauge 0x60d3d7ebbc44dc810a743703184f062d00e6db7e
• UI https://curve.fi/#/ethereum/pools/factory-tricrypto-2/deposit

Important note: tBTC redemptions (i.e. burning back to native BTC) are not yet live, but are expected to be enabled in July.

References/Useful links:

crvUSD dashboard: https://crvusd.curve.fi
tBTC dashboard: https://dashboard.threshold.network/tBTC/mint
stETH dashboard: https://stake.lido.fi/
wstETH dashboard: Wrap | Lido

Websites
• Curve https://curve.fi/
• Threshold https://threshold.network/
• Lido https://lido.fi/

Documentation
• crvUSD Understanding $crvUSD - Curve Finance
• tBTC tBTC Bitcoin Bridge - Threshold Docs
• wstETH What is wrapped stETH (wstETH)? | Lido: Help

Github Page
• crvUSD GitHub - curvefi/curve-stablecoin: Stablecoin powered by LLAMMAs
• tBTC GitHub - keep-network/tbtc-v2: Trustlessly tokenized Bitcoin on Ethereum, version 2
• wstETH GitHub - lidofinance/lido-dao: Lido DAO smart contracts

Communities
• Curve Telegram: Contact @curvefi
• Threshold Threshold Network ✜
• Lido Telegram: Contact @lidofinance

Protocol Description:

crvUSD is Curve’s newly released stablecoin. tBTC is Threshold’s newly released decentralized Bitcoin bridge + asset. wstETH is a wrapped (non-rebasing) version of Lido’s yield-bearing liquid staking token.

Motivation:

TricryptoLLAMA is an alternative tricrypto pool with modern DeFi assets which contrasts to existing pools that consist of centralized assets (e.g. USDT/USDC and WBTC) and non-yield bearing/unstaked ETH.

Specifications:

  1. Governance: All three protocols strive for governance minimization and immutability wherever possible.

  2. Oracles: crvUSD relies on price oracles. tBTC and wstETH do not rely on price oracles.

  3. Audits:
    • crvUSD audits_public/Curve Finance/Curve Stablecoin (crvUSD) at master · mixbytes/audits_public · GitHub
    • tBTC About
    • wstETH GitHub - lidofinance/audits

  4. Centralization vectors: All three protocols are highly decentralized, with non-immutable parameters subject to DAO governance (e.g. adding new collateral to crvUSD, changing mint/burn fees for tBTC).

  5. Market History: crvUSD does not have significant market history although it has performed well in the recent down market. tBTC is close to peg, and when redemptions go live it will likely hold the peg even closer. wstETH (and LSTs in general) have traded close to par ever since ETH2 withdrawals were enabled.

2 Likes
#2

prefer to add gauge once this is live and working

#3

Gauge vote is live here: https://dao.curve.fi/vote/ownership/358

1 Like