Summary:
Curve LP token: 0x4d1941a887ec788f059b3bfcc8ee1e97b968825b
Convex pool ID: 255
URL: https://www.convexfinance.com/stake/ethereum/255
Documentation: https://docs.threshold.network
Background:
The TricryptoFRAX pool is a modern take on Curve’s tricrypto pool, and contains FRAX, tBTC, and frxETH. This proposal aims to add a gauge for Convex wrapped positions of the TricryptoFRAX pool.
tBTC is a decentralized wrapped Bitcoin, backed 1:1 by mainnet BTC, and maintained by Threshold DAO. Unlike other wrapped Bitcoins, the BTC that backs tBTC is not held by a central intermediary, but is instead held by a network of nodes using threshold cryptography. tBTC is permissionlessly redeemable for mainnet BTC.
Motivation:
The TricryptoFRAX pool is a permissionless and decentralized way for Frax users to move BTC in and out of DeFi. Threshold DAO aims to build a relationship with the value-aligned Frax community, to offer decentralized BTC DeFi usecases.
Voting:
For: Add the Convex wrapped TricryptoFRAX pool to the FXS gauge controller
Against: Do nothing