Proposal to add TriLST-PT Pool to the Gauge Controller

Gauge Proposals
#1

Summary:

Hey everyone, Yusuke here from Napier Finance. We’ve been talking to c2tp, Michael, and all other Curve ecosystem believers to develop Napier Finance which I hope the community likes.

This is a proposal to add TriLST-PT (Curve Tricrypto Factory) Pool on Ethereum to the Gauge Controller to enable users to assign gauge weight and mint CRV.

Link to the pool: https://etherscan.io/address/0xf7e009b8111c09a906d1d84938745b9edeedfdde
Link to the gauge: https://etherscan.io/address/0xdf19894056c736935c90fe08c54f1742e2593e62

References/Useful links:

Link to:

Protocol Description:

The end game for Curve ecosystem. Napier is a liquidity hub for yield/points trading powered by Curve Finance.

There are 3 main parts to understand NapierProtocol:

  1. Minting System
    A system for dividing yield bearing assets into separate tokens representing claims on principal and claims on yield (called “Principal Token (PT)” and “Yield Token (YT)”).

  2. Napier Pool
    A time-dependent pool that pairs LPTs of the Curve Pool with underlying assets.

  3. External Protocol: Curve Pool
    3 LST PTs are paired

Napier is an incredibly useful tool for a diverse set of actors within the DeFi space.

If you have exposure to any yield in DeFi, using Napier allows you to always choose the best practices, regardless of market conditions, such as:

  • Fixed Rate: Lock in the yield on your position, removing any uncertainty about future returns.

  • Upfront Yield: Napier allows you to obtain your anticipated yield upfront, giving you immediate access to funds that generally take months or years to accrue.

  • Yield (Point) Trading: Yield Tokens (YTs) represent the right to future yield, allowing you to trade and speculate on interest rate (APR) fluctuations, akin to buying a token and gaining exposure to its price changes.

  • Liquidity Provision: Providing liquidity in Napier offers the opportunity to earn from swap fees, keeping you entitled to yield accrual and all sorts of incentives.

Motivation:

Our mission is The end game for Curve ecosystem, making Curve ecosystem all about finance. The establishment of this pool brings a new utility to the ecosystem has been an invaluable challenge that we’ve faced head-on.

Specifications:

  1. Governance: The governance token NPR will soon be launched, and protocol management will transition entirely to an on-chain DAO model.

  2. Oracles: Napier does not use oracles that can somehow affect the price of PTs or YTs.

  3. Audits: Napier Finance is audited by Mixbytes (Soon) and Sherlock 1st and Sherlock 2nd.

  4. Centralization vectors: There’s no single person or dev with admin controls over the protocol.

  5. Market History: Napier Finance and TriLST-PT (Curve Tricrypto Factory) will be launching on Friday 5th July 2024.

Vote is live here: https://dao.curve.fi/vote/ownership/777

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