Background & Motivation
Continuing the push to incentivize FraxBP pools, this proposal will add gauges for Convex wrapped positions of the SDT/FraxBP pool.
NB: If this proposal passes, Stake DAO will be able to create the corresponding Frax strategy, therefore adding SDT incentives on top of the FXS incentives.
Abstract
Add an FXS gauge for the following Convex pool: SDT/FraxBP
The staking token is a wrapped Convex staking position represented by an erc-20 that receives CRV and CVX rewards. This token can then be staked on a Frax Finance gauge to then also receive FXS rewards.
The wrapped staking position itself is an unmanaged trustless position and can be found on the Convex github at platform/ConvexStakingWrapperFrax.sol
Furthermore, if the proposal passes, the bribes deposited by Frax for this pool will be deposited on the Votemarket platform: a fully on-chain platform enabling to bribe directly veCRV, as a test for further usage of this platform.
Voting
For: Add the listed pools to FXS gauge controller as staked Convex positions
Against: Do nothing.