Add Curve DOLA/FRAXPYUSD to the FXS gauge controller
Summary:
Add DOLA/FRAXPYUSD to the FXS gauge controller
Curve pool address: Curve.fi
Pool: 0xef484de8C07B6e2d732A92B5F78e81B38f99f95E
Gauge: 0x4B092818708A721cB187dFACF41f440ADb79044D
Website: https://www.inverse.finance/
Twitter: @InverseFinance
Background:
Inverse Finance is an on-chain decentralized autonomous organization that develops and manages a suite of permissionless and decentralized financial products using blockchain smart contract technology. Originally founded by Nour Haridy in late 2020, the protocol is now governed by Inverse Finance DAO, a collective of crypto enthusiasts.
Inverse Finance’s main products are:
- FiRM, a fixed-rate lending market
- DOLA, a stablecoin pegged to the US Dollar
- sDOLA, the yield-bearing version of the DOLA stablecoin
- DBR, a new DeFi primitive that enables holders to service a DOLA loan on FiRM.
DOLA is a debt-backed USD stablecoin which is added into and removed from circulation;
- On the supply side of money markets, such as DAO-owned protocol FiRM, by Inverse Finance’s “Fed” contracts and is then made available to be borrowed through over-collateralized loans.
- Via injection/contractions into pools such as the Curve DOLA/FraxBP (currently $8.6M TVL), DOLA/USDC on Velodrome ($1.9M TVL), DOLA/USDC on Balancer ($2.4m TVL on ETH, $2.2m TVL on Arbitrum) and DOLA/USDbC on Aerodrome ($14m TVL).
Motivation:
To provide additional liquidity paired with the new Frax metapool, Frax/Pyusd, using $INV bribes. Inverse has a long and close relationship with Frax, having supported the DOLA/FraxBP for 1.5 years, DOLA/Frax pools on Arbitrum and Optimism chains, and the soon-to-launch sFRAX collateral market on Inverse Finance’s fixed rate lending market, FiRM. Given this relationship, it is rational to further support join initiatives such as the new DOLA/FRAXPYUSD pool to further deepen on-chain liquidity for the DOLA and Frax stablecoins.
Voting:
- For: Add the DOLA/FRAXPYUSD pool to the FXS gauge controller
- Against: Do nothing