SGR 59: csUSDL

Gauge Request Presentation:

• Targeted Pair: 0x895c0e40901317a4938611fb927bdd8415c26651
• IBT contract address: 0xbEeFc011e94f43b8B7b455eBaB290C7Ab4E216f1
• Current TVL in the Pair’s liquidity: $1.5M
• Current TVL as IBT: $21M
• Twitter: @0xCoinshift
• Chain : Ethereum

Simple summary:

Coinshift is building the world’s first onchain treasury economy offering businesses and individuals the safest way to move, manage, and grow value onchain.

Since 2021, Coinshift has managed $1B in Safe accounts and facilitated $1B in payments for over 300+ organizations, including Aave, UMA, Zapper and Starknet. Coinshift is backed by Tiger Global, Sequoia and ConsenSys.

Recently Coinshift launched its first asset management product: csUSDL, a yield bearing stablecoin built in partnership with Paxos, Morpho and Steakhouse Financial.

csUSDL grew to 15M TVL within 20 days of launch with large institutional LPs like Nascent, Amber, GSR and Dialectic.

This proposal aims to add a Gauge for the csUSDL Spectra Pair. The pool has been live since 23 Jan, 2025 and already reached ~$1M TVL. We’d like to add this pool to Spectra’s gauge system to incentivize liquidity of our Pool.

Benefit of this integration for Coinshift

• Additional yield opportunities for the community
• Increase the visibility of the project
• Increase the TVL of the liquidity pool

Benefit of this integration for Spectra

• Increase the tokenized TVL and the AMM TVL
• Diversify the yield possibilities
• Increase Spectra’s visibility

Metrics:

• The current Native APY is 6.52%
• Total TVL of csUSDL on Ethereum is $21M
• Twitter followers: 10.8k