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Convex FinanceConvex Financeby0x724061efDFef4a421e8be05133ad24922D07b5Bf0x7240…b5Bf

[Frax] [FIP-288] Add Curve mkUSD/FRAXBP to the FXS gauge controller

Voting ended over 2 years agoSucceeded

Quorum: 8.26m CVX

Summary

Proposal to add the Curve mkUSD/FRAXBP to the FXS gauge controller.

Background And Motivation

Prisma is a decentralized borrowing protocol that allows users to mint a stablecoin, mkUSD, that is fully collateralized by liquid staking tokens. In addition to the collateral, the loans are secured by a Stability Pool containing mkUSD and by fellow borrowers collectively acting as guarantors of last resort.

Including Prisma's pool in the FXS gauge controller is a logical step since they utilize sfrxETH as collateral, and we have made an initial investment in their protocol.

mkUSD/FRAXBP Curve Pool:

Curve Pool Address: https://curve.fi/#/ethereum/pools/factory-v2-342/deposit

Pool / Token : 0x0cfe5c777a7438c9dd8add53ed671cec7a5faee5

Gauge : 0xf184d80915ba7d835d941ba70cddf93de36517ee

Vote

  • For: Add a mkUSD/FRAXBP Curve pool to the FXS gauge controller
  • Against: Do nothing

Off-Chain Vote

For
10.42M CVX100%
Against
0 CVX0%
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Timeline

Sep 21, 2023Proposal created
Sep 21, 2023Proposal vote started
Sep 24, 2023Proposal vote ended
Oct 26, 2023Proposal updated