The next gauge we’d like to propose is a FRAX-MIM Uni v3 gauge.
Deploy a FRAX-MIM Uni v3 gauge on a tight half cent range order on each side of $1 similar to the FRAX-USDC and FRAX-DAI gauges. This would make the FRAX-MIM pair the core Uniswap liquidity for all traders to access outside of Curve. Currently MIM liquidity on ETH is predominantly in Curve and this would benefit MIM a lot by creating a big presence for them on Uniswap v3. It also creates value for FRAX by becoming the predominant routing pair for all MIM swaps on Uniswap. We can later expand this to L2s if proven successful.
MIM has been on a roll with expansion and execution. Daniele been a DeFi legend with his team’s shipping of code nonstop. This gauge would create value for both Abracadabra sorcerers and Fraximalists by bringing MIM to Uniswap and FRAX as a trading pair together. Additionally, there is a good chance that the sorcerers could allocate some SPELL rewards to the MIM gauge to allow both communities to earn FXS+SPELL which align incentives and get our communities closer together.
This gauge would help MIM get deep, tight Uniswap liquidity as well as expand FRAX’s presence as a routing stablecoin across a large number of decentralized stablecoin projects. This also furthers our mission of being a positive sum player in the space, extend a hand of friendship+collaboration to Daniele & team, as well as show that both stablecoins will have a tighter peg together than competing against one another.