FIP 90 - Add FRAX/USDC Curve pool as a Convex position to the Gauge Controller

Author
C2tP (Convex Finance)

Summary
Add the new FRAX/USDC Curve pool as a wrapped Convex staking position to the Gauge Controller to increase liquidity via CRV, CVX, and FXS rewards.

Background & Motivation
With the recent deployment of the FraxBP (Frax/Usdc) pool, we should look at adding FXS incentives on top of the CRV and CVX rewards that the pool will receive.

Much like FIP-57(Frax/Fip gauge) 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 wrapped staking position itself is an unmanaged trustless position and can be found on the Convex github at platform/contracts/contracts/wrappers at main · convex-eth/platform · GitHub

For:
Create a wrapped Convex position for the FRAX/USDC pool and add it to the Frax Finance Gauge Controller.

Against:
Do nothing.

5 Likes

https://snapshot.org/#/frax.eth/proposal/0x695c938083e6ea8a939bca96a7cffae33fa4400c1694c2ef85279cb66c948b57