Proposal to add yUSD/USDC Gauge [ETHEREUM & Arbitrum]

Gauge Proposals
#1

Proposal to add yUSD/USDC Gauge [ETHEREUM & Arbitrum] -

Summary:

This is a proposal on behalf of Yield.Fi to enable a gauge for yUSD / USDC on Ethereum and Arbitrum.

YieldFi is the World’s First Onchain Asset Management Platform focused on creating liquidity, flexibility, and high returns. It allows users to seamlessly stake, hold, and deploy its yield bearing stablecoin - yUSD across bluechip DeFi partner protocols, earning both passive APY and additional rewards.

Key features:

  • Multichain approach - Live on Ethereum, Arbitrum, Optimism, and Base with more upcoming
  • Accepts - USDC / USDT in deposits
  • On-chain trackable Daily compounding rewards.

Relevant Links:

• Documentation: https://docs.yield.fi/

• Audits: Audits | YieldFi

• Website: https://yield.fi/

• Twitter: x.com

• Discord: YieldFi

• Telegram: Telegram: Contact @getyieldfi

Motivation:

Yield.Fi aims to enable a gauge for yUSD/USDC to substantially increase the liquidity of yUSD, while supporting its utility and viability for integration into a range of DeFi protocols.

Specification:

  1. Governance: Yield.Fi will set up a DAO mechanism with its governance token in the near future post the launch of the token. DAO members and token holders will be able to vote for strategic token emissions to DeFi opportunities
  2. Oracles:

a. Ethereum

1. Pyth (pull) - https://www.pyth.network/price-feeds/crypto-yusd-usdt-rr
2. Supra (pull) - https://supra.com/data/details?instrumentName=yusd_usdt

b. Arbitrum -

1. API3 (push) - [https://arbiscan.io/address/0xE88DA976479461080072D6461128fd401B6D4Dcb](https://arbiscan.io/address/0xE88DA976479461080072D6461128fd401B6D4Dcb#readProxyContract)
  1. Audits: Yield.Fi has undergone security audits from top security firms such as Halborn and Spearbit. Audits | YieldFi
  2. Market History: No major volatility in deposits or market fluctuations.

For:

Yield.Fi will be incentivizing yUSD/USDC Curve LP on Ethereum and Arbitrum through a Boosted Yield Crumbs boost and has seeded liquidity through its treasury on both pools. The pools will be scaling in liquidity depth once the gauge is approved and incentives are flowing in.