[Frax] [FIP-193] Add USV/FraxBP to FXS gauge controller

Summary

Proposal to add USV/FraxBP to FXS gauge controller

Curve Pool Address: https://curve.fi/#/ethereum/pools/factory-crypto-202/deposit

Pool / Token: 0x50e29cd32bedf8adf6c58cf0f8f2c64cb98c62ac

Motivation:

Phuture has deployed a Curve v2 pool for USV/FRAXBP to instantiate USV's first decentralised exchange listing. We intend for this to be the canonical liquidity venue for USV as we grow our exposure to the Curve ecosystem. Success will directly grow volume and TVL to the FraxBP pool.

USV or USDC Savings Vault is a USDC bond ETF built using Notional's fixed rate lending market. It provides the holder with yield on their USDC via the investment into the underlying bonds the vault holds.

USV is currently yielding over 3.5% without leverage, yield paid in kind and all underlying bonds overcollateralised. We are excited to pairs this with the FraxBP programme to help contribute to the FRAX stablecoin usage and grow the fraxbp tvl. We also believe that a low risk yield bearing bond etf offers something different to the vast number of copy cat stable coin assets on Curve. This amplifies the attractiveness of the offering with native yield + additional yield driven by CRV.

We look forward to working collaboratively.

Proposal

• For: Add the USV-FRAXBP Gauge
• Against: Do nothing