Renewal of the AUR program

The AUREUS program has ended. We were incentivizing jEUR-USDC, jCHF-USDC and jGBP-USDC liquidity on KyberSwap, using concentrated liquidity pools.

The reason behind these pools was to launch our first farming program a few months ago, boost our TVL, and receive more UMA rewards. These pools have served their role, but today, they are way less valuable for us. In comparison, the programs on Curve with other parterning stablecoins bring more value to us and to the ecosystem.

Therefore, we are paying JRT from the treasury for maintaining these pools, which create an opportunity cost (they could be invested in more valuable program). Also, with the recent drop in price in JRT, maintaining these programs will cost us more JRT than before.

Their only value currently is to provide a price feed to Coingecko for our jEUR, jGBP, and jCHF, and to generate yield on jGBP and jCHF (this is the biggest argument for maintaining these pools).

There is still a lot of value of having jFIAT-USDC pools, mainly for getting a price feed on Coingecko, but we do not need to have millions of TVL for that; in fact, we have created pools on Uniswap v3 for all the jFIATs, and with a liquidity of $2k, exactly for this purpose.

In terms of arbitrage, it is obvious that a jEUR-USDC brings less volume than a WBTC-jEUR pool; but a jEUR-USDC pool would attract more TVL than a WBTC-jEUR pool, and therefore potentially more arbitrages.

This proposal has 3 options:

1. Stop the jEUR, jCHF, and jGBP-USDC program (and eventually replace them with WBTC-jEUR, etc. this will be part of another vote).

2. Continue the program like before (a new vote will be needed to decide on the budget)

3. Continue the program and add all the other jFIATs; in that case, another vote will be needed to define this new program.