FIP-45: LaaS for Angle Protocol

Summary

The following is a proposal to allocate a portion of the protocol controlled FEI into the Angle Protocol. The idea would be to use FEI to mint some agEUR within the Angle Protocol, then use these agEUR and some other FEI to bootstrap an agEUR/FEI pool on Uniswap v2.

Angle governance voted to incentivize with ANGLE tokens LPs of this pool.

The Angle Protocol is another decentralized stablecoin protocol, that has recently launched a Euro stablecoin backed by USDC and DAI, and added FEI and FRAX collateral last week. Angle Protocol has gained more than $100m TVL in its first 3 days.

Specification

• Spend 10M FEI to mint agEUR
• Deposit agEUR on Uniswap-v2, along with 10M matching FEI
• Stake the ~20M$ of agEUR-FEI Uni-v2 LP tokens to earn ANGLE rewards
• Use of Chainlink’s EUR-USD Oracle for agEUR
• Maximum tolerance of 1% fee/slippage to mint/burn on Angle and deposit liquidity on Uniswap

Forum discussion : https://tribe.fei.money/t/potential-proposal-putting-some-fei-in-the-angle-protocol/3612 Code : https://github.com/fei-protocol/fei-protocol-core/pull/320