Quorum: 7.03m CVX

Authors

C2tP (Convex Finance)

Sam (Frax Finance)

Proposal

Background & Motivation

Now that the FraxBP is live, protocols should feel welcomed to make metapools. Alongside incentives outlined in FIP-95, FraxBP metapools should, on top of their respective CRV gauges, also receive FXS gauges to further incentivize migration to the FraxBP family.

Abstract

As with previous FIPs 90 and 57, we propose that the following Curve pools receive a Convex wrapped position FXS gauge.

• sUSDFRAXBP
• USDDFRAXBP
• GUSDFRAXBP
• TUSDFRAXBP
• alUSDFRAXBP
• LUSDFRAXBP
• BUSDFRAXBP
• apeUSDFRAXBP

The staking token is a wrapped Convex staking position represented by an erc-20 that receives CRV and CVX rewards. 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 https://github.com/convex-eth/platform/tree/main/contracts/contracts/wrappers

Voting

• For: Add the listed pools to FXS gauge controller as staked Convex positions
• Against: Do nothing