sCIP #42 - add a [Fei-[3pool]] Metapool

Summary:

This proposal would add a [Fei-[3Pool]] Metapool onto the Curve UI.

Abstract:

Fei is a decentralized, scalable algorithmic stablecoin collateralized by the ‘Protocol Controlled Value (PCV)’. It aims to be the stablecoin for DeFi. By moving away from IOU deposit-type debt commitments, Fei’s dollar peg is maintained by a reweighting mechanism using the PCV for stability. According to Coingecko’s Stablecoin Rankings, Fei currently is #11 with Mcap of over $360M.

Motivation:

After Fei’s rocky start after launch in April 2021, the project is now at peg and most issues resolved. Fei Protocol will now pivot to growth and integrations are key to success, after successful integrations with Pickle and Rari Capital’s Fuse pool.

Curve is the destination for stablecoin exchanges and for ensuring liquidity to other stablecoin assets. Defi Pulse ranks Curve at #2 with over $7B TVL. This will be a fantastic opportunity for Curve and Fei to work in synergy. Fei’s presence on Curve will also bring additional stability due to the deep liquidity markets and will allow greater adoption and use cases for both parties. This integration is anticipated on Fei’s governance forums with broad support for this proposal.

In addition, Fei is currently revamping its TRIBE incentives for Curve and other upcoming integrations and will incentivize the Fei metapool. Fei is also committed to deploying a sizeable chunk of the PCV to bootstrap liquidity.

While the pool does not currently reach the volume specified for listing, Fei believes that the incentives will boost trading and liquidity; other prerequisites have been satisfied. Fei Protocol has been audited by OpenZeppelin and Consensys Diligence.

Specification:

Dapp
Docs
Contract Addresses
Location of Metapool

For:

Add the [Fei-[3Pool]] Metapool

Against:

Do not Add the [Fei-[3Pool]] Metapool

Poll:

https://signal.curve.fi/#/curve.eth/proposal/QmZNStqwG5aPrHwzaVjDvcwLHokAPpRYKSn2BFjyRShAXv
Voting starts July 2, 12:00, ends July 9, 12:00

9 Likes

I am for adding the [Fei-[3Pool]] Metapool.

As you say, Curve is the right place to integrate FEI into as Curve has turned into a staple integration for stablecoins.

Indeed this is where the rather large PCV (currently around $510mln) comes into play, it can easily offer enough liquidity to bootstrap a possible Fei metapool.

Thank you for starting this proposal @arcology. :handshake:

1 Like

Casting another YES vote, I feel like FEI and Curve are basically made for each other. Bootstraping this pool should pose no problem and is sure to benefit both protocols :muscle:

FEI will only become stronger over time and I’d love for Curve to be part of it.

I would love to see the FEI-3Crv pool on the UI! The pool already has over $1m in liquidity without being on Curve’s UI. I’m sure the Tribe will be interested in allocating incentives towards this pool to help include it among the ranks of other popular metapools, as well as deploying protocol owned assets into the pool.

Great initiative, Arcology! I see great potential on this and it would be interesting to to allocate some incentives towards this pool!

As an OG Curve user/supporter and member of the Fei Core team, I vote yes, as I would like to see FEI-3Crv pool on the UI and to open the discussion with our communities about incentives and the deployment of protocol assets to the pool.

Would love to see this happen. Curve is a fantastic place for Fei be. Fei has the ability to offer high amounts of stable liquidity for users to utilize.

As Joey has said, the pool already has a significant amount of liquidity. Adding it to the official UI will give this pool more easy access, and would be of great benefit to both curve and the tribe.

As consistently one of the top liquid eth/stablecoin pair and over all top token pair on uniswap v2 plus with more plans to integrate with uniswap v3 being currently discussed; i do think this integration is yet another natural extension!