Summary:
Enable gauge on the wUSDR-USDC Stable pool
References/Useful links:
• Website
Protocol Description:
Real USD (USDR) is a stablecoin backed by tokenized Real Estate that natively yields 8-10%. It was created by Tangible, a RWA tokenization protocol.
Motivation:
Following the successful launch of our Balancer Polygon gauge we’re excited to expand to mainnet and reap the benefits of boost, the Aura ecosystem and core pool auto bribes.
We’ve been accumulating TetuBAL/VeTetu on Polygon and will begin to accumulate AuraBAL, vlAURA and VeBAL on mainnet.
Specifications:
- Governance: Real USD, the treasury composition and changes to the design will be governed by locked TNGBL token holders, this governance is not yet in place but will be soon. 4 of 5 multisig already required for any changes.
- Oracles: We have our own oracles for properties at the moment, but are working with Chainlink to get set up, then true property valuations via 3rd party Hometrack.com can be reflected on chain in Real Time so the treasury values and the collateralization ratio are upto date, this also allows for “minting on gains” to work more effectively in real time.
- Audits: Audits - Tangible
- Centralization vectors: The Real Estate obviously exists in the real world as is managed by an entity, Tangible Custody, this entity collects rent and converts to USDC and sends to the rent smart contracts.
- Market History: In our short time since launch we have not lost peg.
- Value: Post Shanghai there is a high probability that staked ETH percentage increases, leading to lower yield and therefore revenue on LSD TVL for Balancer. wUSDR has a native yield of circa 10% that scales with market cap, this could be a good source of longterm revenue for Balancer as USDR grows.
Pool ID: 0x831261F44931B7DA8BA0DCC547223C60BB75B47F000200000000000000000460
Pool contract: 0x831261F44931B7DA8BA0DCC547223C60BB75B47F
Gauge: 0xe9866B9dc2c1213433f614CbB22EdAA0FAFF9a66
The DAO Multisig 0x10A19e7eE7d7F8a52822f6817de8ea18204F2e4f will interact with the AuthorizerAdaptor at 0x8F42aDBbA1B16EaAE3BB5754915E0D06059aDd75 and call performAction with the GaugeController at 0xC128468b7Ce63eA702C1f104D55A2566b13D3ABD for the target(address) argument and using 0x3a04f900 followed by the gauge address 0xe9866B9dc2c1213433f614CbB22EdAA0FAFF9a66 and the corresponding gauge type for the data(bytes) argument.
data(bytes) :
0x3a04f900000000000000000000000000e9866b9dc2c1213433f614cbb22edaa0faff9a660000000000000000000000000000000000000000000000000000000000000002