[BIP-11] Enable DFX/ETH 50/50 [ETH], DFX/TEL/USDC 40/40/20 [POL] Gauges

Gauge Proposal Template:

Summary:

DFX Finance’s proposal to add gauges for the DFX/ETH 50/50 [ETH] and DFX/TEL/USDC 40/40/20 [POL] pools

References/Useful links:

Link to:
• Website: Main Website, dApp
• Documentation: Gitbook, Medium
• Github Page: Github
• Communities Telegram, Discord

Protocol Description:

DFX Finance is a decentralized foreign exchange (FX) protocol that facilitates the seamless exchange of fiat-backed stablecoins denominated in a growing number of currencies. Using a hyper-efficient AMM, optimized for low volatility trading, DFX provides FX swaps with rates that will beat any bank, money changer, or FX platform. DFX Pools currently have over $40M in TVL. DFX is the governance token of DFX Finance which allows users to vote on protocol changes and initiatives of the DAO, and also allows users to receive boosted emissions on deposits within the DFX ecosystem.

Price History DFX:

Price History for DFX can be found on Coingecko

Motivation:

The DFX/ETH 50/50, and DFX/TEL/USDC 40/40/20, needs incentivization to migrate meaningful amounts of liquidity over to the Balancer ecosystem, and to bring higher trading volumes to Balancer. As well, DFX Finance is committed to engage in the Hiddenhand Finance ecosystem in a meaningful way to further deepen DFX liquidity onchain.

Specifications:

  1. Governance: DFX tokens serve as the governance token for the DFX Finance protocol. DFX token holders can vote on governance proposals through DFX’s snapshot. DFX forum is also used to discuss potential protocol changes and improvements.DFX Finance also has plans to transition to a veDFX model to further improve on decentralizing governance of the protocol.

  2. Oracles: DFX token does not rely on any external oracles. The DFX stablecoin pools uses Chainlink for its real world forex price feeds to facilitate efficient stablecoin swaps close to the spot price. The feeds can be found here: Decentralized Price Reference Data | Chainlink

  3. Audits: DFX has engaged with multiple auditors including engagements with Trail of Bits, Haechi, and Zellic to audit the DFX smart contracts.

  4. Centralization vectors: Treasury functions are controlled by a 2/4 multisig including treasury yield farming, and paying bribes.

  5. Market History: DFX has been transferable since March 2021. The oldest DFX pool on Balancer is 230 days old, with the highest daily volume of $4M. There is currently $420,000 worth of DFX liquidity on Balancer.

DFX/ETH 50/50
Pool: 0x3f7c10701b14197e2695dec6428a2ca4cf7fc3b8
Gauge: 0x7cdc9dc877b69328ca8b1ff11ebfbe2a444cf350
Streamer: N/A
Root Gauge: N/A

DFX/TEL/USDC 40/40/20
Pool: 0x2dbC9Ab0160087AE59474FB7bed95B9E808fA6bc
Gauge: 0xa919fb0b1073f3279caa54cc05c9660ae869faa8
Streamer: 0xb39711886caa9fe3aa082f2158833f1123b9a029
Root Gauge: 0xead3c3b6c829d54ad0a4c18762c567f728ef0535

22 Likes

Solid writeup. It’s great to see DFX here as well as their plan to shift pool2 LM scheme somewhere more sustainable and more interconnected with the greater DeFi ecosystem.

9 Likes

bringing tel and dfx closer together with incentives and also dfx will be adding a Bribe feature by the looks of it, from the motivation section "DFX Finance is committed to engage in the Hiddenhand Finance "…

https://hiddenhand.finance/

9 Likes

Great post! I would love to see a deeper integration with Balancer. Both protocols have a really solid future and I look forward to hearing more on this! Keep up the amazing work on both sides! :clap:

7 Likes

I’m all for new proposals that continue to bridge great protocols and projects in the DeFi space. DFX have a solid and reputable team with a fantastic ‘product’ and vision.

6 Likes

Everything does look to be set up correctly. I briefly checked around and no one spoke up about being in touch with you so well done if you did all of this on your own. The posts by brand new users in support is a bit sketchy but I see you put this out on your twitter so perhaps that’s why. I don’t see any reason not to support adding these gauges. Will ask the Governance Council to include this in the next round of voting later this week unless we hear some reason why that should not be done.

6 Likes

Right? I wish there was just 1 unified account for all these forums from different protocols so we dun look so sketch. :grin:

4 Likes

Open the floodgates. Let loose the cannons. Fire for effect. Damn the torpedos.

2 Likes

Balancer has the best interface out of any decentralized exchange, imo. Seeing them more integrated with DFX Finance makes me happy. Both are great protocols with tremendous futures.

5 Likes

Love Balancer and love DFX! This would be a match made in heaven for me! :grin::clap:

3 Likes

Keen to see deep liquidity on Balancer

1 Like

Great proposals from a great team. DFX is a gem and can’t wait until we see everything fully integrated.

1 Like

Good idea in my opinion

1 Like

ETH gauge: Snapshot

polygon gauge: Snapshot

1 Like

This is a great proposal and a win-win. Continued incentives will bring more adoption and higher volumes.

1 Like