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FraxFraxby0xc3d6f21c79C2567A1858d8b93a4EDBD9dB399d9dnader

FIP - 67 - Kill mStable FRAX/mUSD pool staking rewards and remove from gauge

Voting ended over 3 years agoSucceeded

Summary:

Remove FRAX/mUSD gauge so the pool stops receiving FXS.

As pointed out by community members, FRAX/mUSD liquidity pool is relatively small in terms of TVL and participation in 24h volume of FRAX transactions. Especially with the recent market concerns with stable coins, users not comfortable holding mUSD (fine with holding frax though)

We would like to propose removing the gauge from FXS as this essentially allows stable pools and other FRAX/FXS/FPI/FPIS-focused pools to gain more rewards. Also, FXS emission would be used more efficiently for the stability of FRAX as well as the extension of the market cap of that.

This is somewhat of an unusual proposal and it will also be used as a way to test community sentiment on having FXS receiving gauges on pools that source their yield from FXS.

Implementation:

We will set the farm reward to 0 for FRAX/mUSD pool and people can withdraw from the farm afterward.

Poll:

  • Kill FRAX/mUSD gauge
  • Do Nothing

Off-Chain Vote

Kill FRAX/mUSD gauge
2.72M FXS7.8%
Do Nothing
32.26M FXS92.2%
Quorum:487%
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Discussion

FraxFIP - 67 - Kill mStable FRAX/mUSD pool staking rewards and remove from gauge

Timeline

May 16, 2022Proposal created
May 16, 2022Proposal vote started
May 21, 2022Proposal vote ended
Nov 21, 2025Proposal updated