[FIP - 120] Deploy stkcvxfrxETH-ETH Curve Gauge

Governance Proposals Gauges
1

Author

Sam Kazemian

Summary

Deploy an FXS gauge for Convex wrapped position of frxETH-ETH Curve pool LP.

Curve pool address: Vyper_contract | Address 0xa1F8A6807c402E4A15ef4EBa36528A3FED24E577 | Etherscan

Background and Motivation

The time has finally come for the release of frxETH and the Curve pool that will become the main source of liquidity for frxETH<>ETH swaps until withdrawals are open.

This proposal is noteworthy because it is the first proposal for a gauge that does not include the FRAX stablecoin. The requirement of FRAX needing to be in the deposit position of a gauge has been in effect since day 1. However, this proposal seeks to create the first exemption by proposing to have a gauge of frxETH-ETH LP as the ultimate deposit asset. I think this is a good use case of FXS emissions in the gauges and worthy of being the only exception in the Frax gauge system. The frxETH liquid staking system will be a cornerstone of the greater Frax economy and an important piece of financial infrastructure deserving of FXS emissions.

Voting

  • For: Deploy a FXS gauge for stkcvxfrxETH-ETH Curve LP
  • Against: Do nothing.
5 Likes
2

This proposal is up for voting here: Snapshot

3

Think this is a worthy exception to the rule.

One thing to note/consider here is that its useful/efficient to pair with eth, specially before withdrawals are implemented.

Post-withdrawals it could be interesting to consider the main pool being shifted to frxEth/FraxBp. But again, for now, Eth pairing I agree is the better choice.

4

Gime me some eth sir 0x7e4730688e16654FA0e0fF2b405dC99C54e4a513

5

I agree that this is a worthwhile gauge. We should stay diligent as a community and prevent special interests / third parties from creating self serving gauges that exclude FRAX, but there are some very valid exceptions that are net positives for Frax.