[FIP - 223] Add COIL/FraxBP to FXS gauge controller

Curve Pool Address: https://curve.fi/#/ethereum/pools/factory-crypto-236/deposit
Pool / Token : 0xAF4264916B467e2c9C8aCF07Acc22b9EDdDaDF33
Gauge : 0x06B30D5F2341C2FB3F6B48b109685997022Bd272

Spiral DAO is a novel DAO model that aims to accumulate a significant share in CRV, BAL, FXS, and other DeFi blue chips through Yield Bonding. The Yield Bonding mechanism allows users to deposit yield-earning assets and receive COIL instead of their underlying rewards, which are then deposited into yield-earning strategies in our treasury. COIL absorbs the sell pressure that CRV/CVX/FXS would typically face, as 100% of the yields earned are locked in non-predatory strategies managed by the Spiral DAO team.


Spiral DAO supports Frax stability and deployed a majority of LP paired with FraxBP.
Spiral DAO decrease overall sell pressure for FXS / CRV / CVX emissions by utilizing them in non-cannibalistic ways. Spiral DAO plans to support FraxSwap pools for yield bonding in the roadmap and looking to increase its exposure towards FXS.
Spiral DAO plans to participate and buy votes on bribe markets with USDC, thus increasing the overall yield to veFXS voters.

Spiral DAO currently owns about 37.8k locked CRV, or about 300k USD at current prices; see Treasury Multisig and looking to increase it’s exposure.


For: Add the COIL/FraxBP pool to the FXS gauge controller

Against: Do nothing


This proposal is up for voting here: Snapshot