I’d like to propose a gauge for the Angle protocol where I am a Core Contributor. The Angle Protocol is a decentralized stablecoin protocol with $130m of TVL and more than 77m stablecoins issued.
Add a gauge for a FRAX/agEUR pool on Uniswap V3
The Angle Protocol has launched a Euro stablecoin, and was designed to be able to issue stablecoins pegged to multiple assets like CHF, GBP, JPY. We currently use DAI and USDC as collateral but plan to use other types of decentralized stablecoins as collateral like FEI and FRAX. You can check the discussions in the Angle governance forum to use FRAX as a collateral:
FRAX as a collateral for the Angle protocol could bring a lot of benefits for FRAX and FXS holders. First they’ll be able to swap FRAX to mint agEUR. Angle has also strategies built on its protocol and by depositing FRAX on Angle you’ll be able to get the Aave yield with a multiplier effect on the yield. Long FRAX/agEUR perpetual options will also be available.
The Angle Protocol has a LM mechanism similar to that of FRAX in the sense that ANGLE rewards are distributed every week to different pools: in the case of the FRAX/agEUR pool, ANGLE rewards could also be distributed.
In the end, benefits of the gauge:
1.) Create Euro exposure for FRAX holders through the FRAX/agEUR pool
2.) Angle can further incentivize the gauge with ANGLE rewards doubling the token rewards for users
3.) Build a partnership with a decentralized stablecoin protocol (that does not plan to go to USD) that builds in itself many interesting use cases for FRAX holders like strategies for FRAX on Aave