Summary
- Proposal to add the msETH/frxETH to the FXS gauge controller.
Background And Motivation
Metronome’s msETH is a synthetic ETH asset that allows users to take on multiplied exposure to ETH and ETH-like yield without risking USD price volatility of ETH. Among other assets, Metronome supports sfrxETH as collateral, and with over $2mm in sfrxETH TVL on the application (roughly 25% of all TVL), the Frax community has certainly taken an interested in our protocol to amplify their yield and take out capital efficient, fixed rate loans against their various Frax positions.
Metronome controls a significant CVX position and is additionally sending out significant bribes each epoch towards liquidity, including the msETH/frxETH pool. This will increase our ability to offer more opportunity to the Frax ecosystem to take advantage of the yield opportunities presented by Metronome.
msETH/frxETH Curve Pool:
Curve Pool Address: link
Pool / Token : 0x2d600bbbcc3f1b6cb9910a70bab59ec9d5f81b9a
Gauge : 0xb7a3c519889a916c5ecb54101e69ecf11de60d0b
Vote
- For: Add the msETH/frxETH Curve pool to the FXS gauge controller
- Against: Do nothing