0x7240…b5Bf

[Frax] [FIP - 220] Add rETH/frxETH (StaFi protocol) to FXS gauge controller

Voting ended almost 3 years agoSucceeded

Quorum: 8.00m CVX

Curve Pool Address: https://curve.fi/#/ethereum/pools/factory-v2-292/deposit

Pool / Token : 0xfcc067efb7be2eebd32615f14fc22195abb68e9b

Gauge : 0xb0549599d8446a196541de11008ef5e79fa14f57

Background:

StaFi protocol is the first decentralized protocol unlocking liquidity of Staked assets.StaFi aims to solve the contradiction between Mainnet security and token liquidity in PoS consensus. The token holders are staking through staking contracts built in StaFi protocol, and then get alternative tokens(rToken - such as rETH), rTokens are tradable and it can get staking rewards from the original chain at the same time to achieve the maximum yield

Motivation:

With StaFi rETH already valued at $33m staked , we believe that rETH/frxETH would be a great addition and would contribute greatly to the ideals that frax want to achieve with its WETHR program. This signifies our support to the program that would focus on committing positive liquidity along with other LSD’s.

Voting:

For: Add the rETH/frxETH pool to the FXS gauge controller
Against: Do nothing

Off-Chain Vote

For

670.68K CVX7.9%

Against

7.87M CVX92.1%

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Timeline

Apr 21, 2023Proposal created

Apr 21, 2023Proposal vote started

Apr 24, 2023Proposal vote ended

Oct 26, 2023Proposal updated