Due to the recent downfall of the EURO against the USD, the agEUR/Frax LP has become severely imbalanced. As of this writing the pool consists of 99%+ agEUR.
This means that in the current state the pool is a net loss to the protocol as it currently provides near to no liquidity for FRAX whilst still earning emissions from the gauge votes.
I propose that we deprecate/unlock the current gauge LP and redeploy it with updated ranges as a agEUR/FraxBP v2 metapool.
Doing this would reestablish liquidity between agEUR and FRAX and will also result in an increase of the FRAX supply.
Considering the macro economic environment and the consistent pressure and devaluing of the EURO. With no mention of future pressure presented by the Russian fuel and US proxy situation.
I agree it would be sound to act upon this for the continued health of FRAX.
There are additional or alternative actions we could take however I believe this to be on such viable option.
I agree to redeploy current LP with updated ranges as a agEUR/FraxBP v2
This gauge should be redeployed indeed.
Thank you very much for the proposal!
Fully agree on this.
How can we move this to snapshot?
This proposal is up for voting here: Snapshot