[FIP - 207,?] Authorize matching FRAX from the FXS buyback fund with Frax's ARB airdrop to create ARB-FRAX liquidity and add gauges

Governance Proposals
1

Authors
Samuel McCulloch

Summary

Authorize matching FRAX from the FXS buyback fund with Frax’s ARB airdrop to create ARB-FRAX liquidity using funds set aside from FIP-77.

Create FXS gauge for ARB-FRAX LPs on Arbitrum based Fraxswap and Curve.

Background and Motivation

In June of last year, Frax was appropriated $20m dollars in FIP-77 to use for FXS buybacks. Since being approved, approximately $2m FRAX has been used for this purpose.

On March 23, 2023, Frax received over 500,000 ARB from the Arbitrum Foundation as part of their airdrop. Frax can either use this ARB to take part in governance or it can be used to deepen liquidity on Curve, Fraxswap and Uniswap. Frax should be allowed to use part or all of the FXS buyback fund to create new protocol owned liquidity on Arbitrum using its ARB airdrop.

Additionally, should FIP 201 pass, new gauges should be created for Uniswap, Curve, and Fraxswap.

PROPOSAL

FIP 201

For: Authorize matching FRAX from the FXS buyback fund with Frax’s ARB airdrop to create ARB-FRAX liquidity.

Against: Do nothing

FIP 202

For: Create ARB-FRAX Fraxswap gauge

Against: Do nothing

FIP 203

For: Create ARB-FRAXBP Curve gauge

Against: Do nothing

1 Like
2

I want to make 2 changes to this proposal.

  1. Since the team wants to take part in ARB governance, the Frax team should be granted authorization to deploy the ARB in whatever conditions they deem optimal.
  2. Removal of FIP-202. The Curve gauge should be the only one at launch. Fraxswap can come in the future.
  3. The team should be authorized to optimally deploy all future airdrops.

Thanks
Sam

1 Like
3

First section of this proposal is up for voting here: Snapshot