# \[FIP - 359\] Add Re7 FRAX on Ethereum to the FXS Gauge Controller

**URL:** <https://gov.frax.finance/t/fip-359-add-re7-frax-on-ethereum-to-the-fxs-gauge-controller/3063>\
**Category:** Gauges\
**Created:** [May 14, 2024, 3:19pm UTC](https://gov.frax.finance/t/fip-359-add-re7-frax-on-ethereum-to-the-fxs-gauge-controller/3063 "2024-05-14T15:19:12Z")\
**Posts on this page:** 3\
**Page:** 1

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**Author:** ![Re7-Labs](https://avatars.discourse-cdn.com/v4/letter/r/6a8cbe/32.png) [@Re7-Labs](https://gov.frax.finance/u/Re7-Labs)\
**Post date:** [May 14, 2024, 3:19pm UTC](https://gov.frax.finance/t/fip-359-add-re7-frax-on-ethereum-to-the-fxs-gauge-controller/3063/1 "2024-05-14T15:19:12Z")

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## Author

Re7 Labs

## Summary

Proposal to add Re7FRAX MetaMorpho vault to the FXS gauge controller.

## Background And Motivation

Morpho Blue is a decentralized protocol that facilitates overcollateralized lending and borrowing crypto assets (ERC20 Tokens) on the Ethereum Virtual Machine. The protocol, designed as an immutable smart contract, serves as a trustless base layer for lenders, borrowers, and applications, with risk management layers provided by [MetaMorpho](https://docs.morpho.org/concepts/morpho-blue/core-concepts/externalized-risk-management).

Re7 Labs, specializing in DeFi R&D and liquid crypto investment strategies has deployed the initial set of USDe/FRAX and sUSDE/FRAX markets and added them to the new Re7FRAX MetaMorpho vault.

Adding the Re7FRAX vault to the FXS gauge controller on Ethereum will allow depositors to get additional FXS rewards, increasing the supply and leading to higher borrow demand for FRAX within the Morpho Blue system. Additionally Morpho will provide MORPHO token incentives to vault depositors, contingent on a successful gauge vote.

## Pool Details

Re7FRAX

Pool/Token: [0xBE40491F3261Fd42724F1AEb465796eb11c06ddF](https://etherscan.io/address/0xBE40491F3261Fd42724F1AEb465796eb11c06ddF)

## Vote

・For: Add Re7FRAX on Ethereum to the FXS gauge controller  
・Against: Do nothing

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<div class="post-metadata">

**Author:** ![wolfehr](https://avatars.discourse-cdn.com/v4/letter/w/7ea924/32.png) [@wolfehr](https://gov.frax.finance/u/wolfehr)\
**Post date:** [May 15, 2024, 1:14pm UTC](https://gov.frax.finance/t/fip-359-add-re7-frax-on-ethereum-to-the-fxs-gauge-controller/3063/2 "2024-05-15T13:14:26Z")

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I am fully in support of this proposal.

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<div class="post-metadata">

**Author:** ![nader.frax](https://yyz1.discourse-cdn.com/flex031/user_avatar/gov.frax.finance/nader.frax/32/1849_2.png) [@nader.frax](https://gov.frax.finance/u/nader.frax)\
**Post date:** [May 20, 2024, 4:41pm UTC](https://gov.frax.finance/t/fip-359-add-re7-frax-on-ethereum-to-the-fxs-gauge-controller/3063/3 "2024-05-20T16:41:08Z")

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This proposal is up for voting here: [Snapshot](https://snapshot.org/#/frax.eth/proposal/0x93b39a7741add8bbac610489d20cc41f269f52ecf3ca8307e89e4acd09c5fa5c)