Author
C2tP (Convex Finance)
Summary
Add the new FPI/FRAX Curve v2 pool as a wrapped Convex staking position to the Gauge Controller to increase FPI liquidity via CRV, CVX, and FXS rewards.
Background & Motivation
With the release of FPI, we should look at adding incentives so that FPI is suitably liquid. The recent FPI/FRAX Curve pool has recently passed its governance proposal to be added to their Gauge Controller(https://dao.curve.fi/vote/ownership/166) and will begin to receive CRV rewards, and subsequiently CVX rewards.
We can use a wrapped staking position on Convex to create an erc20 token that receives CRV and CVX. This token can then be staked on a Frax Finance gauge to then also receive FXS rewards.
The FPI pool should be a main target for incentives as keeping FPI with ample liquidity should be a protocol goal.
This will accumulate multiple rewards from multiple protocols into one position and vastly grow the pool size.
The wrapped staking position itself will be an unmanaged trustless position. An example of this wrapper can be found being used on Abracadabra and on our github (platform/contracts/contracts/wrappers at main · convex-eth/platform · GitHub).
For:
Create a wrapped Convex position for the FPI/FRAX pool and add it to the Frax Finance Gauge Controller.
Against:
Do nothing.
