Add zETH/frxETH to FXS gauge controller
Curve Pool Address: https://curve.fi/#/ethereum/pools/factory-v2-318/deposit
Pool / Token: 0xfc89b519658967fcbe1f525f1b8f4bf62d9b9018
Documentation: Introduction - Zunami Protocol Docs
Zunami is a decentralized protocol that issues aggregated stablecoins (UZD,zETH), whose collateral is utilized in omnipools and differentiated among various profit-generating strategies. We create Omni pools and issue zStables on top of them.
zETH is ETH-pegged stablecoin with a rebase mechanism, collateralized by LP tokens from Zunami’s ETH Omni pool and backed by ETH held in Curve pools. Our ETH Omni pool provide liquidity to the frxETH pools on Curve, such as alETH/frxETH, stETH/frxETH, sETH/frxETH.
Both zETH and UZD are pool-aware tokens, meaning that when they are held in a Curve pool, the rebase feature is disabled, and all earnings are directed towards incentivizing that pool through bribes. This approach creates a self-sustainable economy, propelling zStables to the top of profitability charts.
Zunami actively supports the FRAX and the evidence of our commitment lies in the value we already bring to the FRAX ecosystem through our UZD stablecoin:
- TVL of our UZD/FRAXBP pool has surpassed $6 million, making us the 4th largest pool among FRAXBP pools.
- We hold the position of being the largest briber on Votium among FRAXBP pools.
- Our USD Omni pool has allocated over $3.2 million to pools paired with FRAXBP.
With the achievements we have accomplished so far, we are confident that we can replicate and amplify the same successes with frxETH.
- For: Add the zETH/frxETH pool to the FXS gauge controller
- Against: Do nothing.