SGR-131: LP-sd-pmcrvUSD-31MAR2026 and LP-sd-pmfrxUSD-10MAY2026 Gauge Requests

pmcrvUSD-31MAR2026 and pmfrxUSD-10MAY2026 Gauge Requests

The pmcrvUSD and pmfrxUSD pools on Spectra represent the first gold-backed RWA stablecoin yield opportunities on the platform. This proposal requests gauges for both pools to bootstrap liquidity and enable fixed-rate yield on pmUSD pairs.

Target 1: sd-pmcrvUSD

• Targeted Pair: LP-sd-pmcrvUSD-vault(pmcrvUSD)-31MAR2026
• Pool Contract Address: eth:0x21a1fc4e1521f36b294dcac10d249ca44fde979a
• IBT Contract Address: 0x7d3cde9ccf0109423e672c17bd36481cf8ce437d
• Chain: Ethereum Mainnet

Target 2: sd-pmfrxUSD

• Targeted Pair: LP-sd-pmfrxUSD-10MAY2026
• Pool Contract Address: eth:0xdaa01474c3a714ed90e3e40a6e553c626f7f0503
• IBT Contract Address: 0xd0fd4b4141de8d021df1c15e6eafde2d276fe116
• Chain: Ethereum Mainnet

Social Links:

• Twitter: https://x.com/Raacfi
• Website: https://pmusd.raac.io/

Simple Summary

This proposal aims to create gauges for two pmUSD liquidity pools on Spectra: sd-pmcrvUSD-vault (pmUSD/crvUSD) and sd-pmfrxUSD-vault (pmUSD/frxUSD).

pmUSD (Precious Metals USD) is a fully-collateralized stablecoin issued by the RAAC protocol, backed by tokenized precious metals, primarily gold, via I-ON Digital's ION.au. RAAC deployed ~$200M of tokenized gold through this partnership. pmUSD uses an f(x)-inspired CDP model where users deposit tokenized metals as collateral to mint a USD-pegged stablecoin.

Both IBTs are Stake DAO auto-compounding vaults wrapping the respective Curve LP positions (pmUSD/crvUSD and pmUSD/frxUSD) into a vault. Gauge emissions on these pools help bootstrap liquidity for what is currently a novel asset class: gold-backed RWA stablecoins.

Vote Specification

Create gauges for LP-sd-pmcrvUSD-31MAR2026 and LP-sd-pmfrxUSD-10MAY2026 on Ethereum?

• For: Create both gauges
• Against: Do not create the gauges
• Abstain: Abstain