[BIP-747] Enable USDX/USDT and sUSDX/USDX gauge [Arbitrum]

PR with Payload

https://github.com/BalancerMaxis/multisig-ops/pull/1603

Summary

This is a proposal to enable Balancer gauges on Arbitrum for USDX/USDT and sUSDX/USDX pools.

References/Useful LInks

Link to:

• Website: https://usdx.money/

• Documentation: https://docs.usdx.money/

• Github Page: USDX Token · GitHub

• Communities: X, Telegram, Discord

Protocol Description

• usdx.money is a stablecoin infrastructure project, with USDX as its first product.

• USDX is a synthetic stablecoin, designed to offer a stable, censorship-resistant, crypto-native money. USDX captures yield from crypto-native sources and distributes it back to its users.

• sUSDX is a staked version of USDX; yield for sUSDX currently stands around 19%.

• USDT is a fiat-backed USD-denominated stablecoin, issued by Tether.

Motivation

• usdx.money has recently launched its points campaign, and expects the TVL to rapidly increase. With increased TVL, usdx.money is committed to building robust liquidity for sUSDX/USDX and USDX/USDT pairs on Arbitrum Chain to facilitate secondary liquidity for USDX and sUSDX. We are seeking to bootstrap majority of our liquidity on Balancer, and this will help onboard more users to both usdx.money and Balancer.

Specification

1. Governance: currently owned by 0x3f9a06aD4c83c289DF83461fE5F24EE4c4491935 (3 out of 4 multisig).

2. Oracles: The protocol does not reply on external oracles.

3. Audits: link. Additional audit reports can be viewed on https://docs.usdx.money/informaiton/audit

4. Centralization vectors: The centralization vectors primarily relate to the owner of the contracts, which is a 3 out of 4 multisig. The team has 15 full-time, doxxed contributors.

5. Market history: USDX has not previously de-pegged, and sUSDX is an ERC4626 token. Balancer pools for USDX/USDT and sUSDX/USDX have just been deployed.

• Addresses for USDX/USUSDT

  • Pool address: https://balancer.fi/pools/arbitrum/v2/0x85564af67760063b994599b640552614238c9ee60000000000000000000005e3

  • Arbitrum Child Gauge: https://arbiscan.io/address/0x7bbD2B8932610dEC2698C63fC28130224A339Df2#readContract

  • Mainnet Root Gauge: https://etherscan.io/address/0x5f244e8ac0FF2d2af14368fd8EFd1E508a50CF68

• Addresses for sUSDX/USDX

  • Pool address: https://balancer.fi/pools/arbitrum/v2/0xb3047330c1cb5eb1a3670fabfb99bdc106d631eb0000000000000000000005e4

  • Arbitrum Child Gauge: https://arbiscan.io/address/0x83bE87529aC31d06fEc49FF5Aedd6290b81D0700

  • Mainnet Root Gauge: https://etherscan.io/address/0x0d1b58fB1fC10F2160178DE1eAE2d520335ee372

6. Value: USDX currently has $210m in TVL, making it the th largest protocol by TVL on BNB Chain. As the protocol rolls out points program on Arbitrum, we intend for Balancer pools to be the primary source of liquidity for USDX and sUSDX on Arbitrum.

Technical Specification

The Balancer Maxi LM Multisig 0xc38c5f97B34E175FFd35407fc91a937300E33860 will interact with the GaugeAdderv4 at 0x5DbAd78818D4c8958EfF2d5b95b28385A22113Cd and call the addGauge function with the following arguments: gauge(address):0x5f244e8ac0FF2d2af14368fd8EFd1E508a50CF68 gaugeType(string): Arbitrum gauge(address):0x0d1b58fB1fC10F2160178DE1eAE2d520335ee372 gaugeType(string): Arbitrum