Add UZD/FraxBP to FXS gauge controller
Curve Pool Address:https://curve.fi/#/ethereum/pools/factory-v2-284
Pool / Token: 0x68934f60758243eafaf4d2cfed27bf8010bede3a
Background:
Zunami Protocol is a DAO that aims to maximize returns on stablecoins and streamline interaction with DeFi by solving the main issues of current yield-farming protocols. The Zunami Protocol integrates directly with Curve/StakeDAO/Convex smart contracts by providing liquidity in pools. Zunami utilizes an Omni pool to rebalance and diversify user funds. The current set of strategies is approved by DAO vote and consists of XAI/FRAXBP, ALUSD/FRAXBP, and MIM/3CRV.
UZD is a stablecoin with a rebase mechanism that is collateralized by LP tokens of Zunami and backed by stablecoins held in Curve pools. UZD is also a pool-aware token that stops rebasing when it is inside a pool, while the rebase continues outside the pool. Furthermore, CRV, CVX, and FXS, which were initially intended for rebase, are now either locked or used for bribing.
Motivation:
Zunami supports the FRAX ecosystem, with over 50% of the protocol’s funds allocated to FRAXBP pools. Recently, FRAX was also added as one of the main stablecoins for deposits and withdrawals, alongside USDT, USDC, and DAI. Additionally, the team plans to launch an ETH omni pool with frxETH as one of the main assets.
Voting:
For: Add the UZD/FraxBP pool to the FXS gauge controller
Against: Do nothing.