Summary:
This pool uses the ComposableStablePoolFactory-v3 and will be composed of FRAX and bb-am-USD, AAVE v3 boost pool. The underlying tokens are USDC, DAI, USDT, and FRAX. These will each be wrapped through Aave’s market to earn LPs additional yield, excluding FRAX. This gauge would enter as a “core pool” under BIP-19, meaning protocol fees earned by this pool would be used to bribe for votes on it. The gauge can be uncapped based on the contents being all large cap stable tokens.
References/Useful links:
FRAX: Link to:
• Website
• Documentation
• Github Page
• Communities - Discord link
USDC: Link to:
• Website
• Documentation
• Github Page
• Communities - Coingecko link
Protocol Description:
Aave is a permissionless lending protocol built to help users lend and borrow digital assets. This provides yield bearing sources for various tokens, this case the stablecoins listed above. USDC is the dollar backed stablecoin issued by Circle. DAI corresponds to the Maker DAO and USDT is the Tether stablecoin.
Motivation:
Balancer’s heavy interest in taking over the yield bearing token space and increased capital efficiency through linear and boosted pool architecture continues to take effect. This provides better trading routes on the protocol and more sustainable pool options for liquidity providers to place their funds. The Aave v3 migration is well underway and the road has been, and still is being paved for many more boosted pool options for Balancer users.
Specifications:
- Governance: USDC are centralized and does not have a governance forum. FRAX governance process can be seen here and their snapshot here.
- Oracles: This pool only relies on the rate providers of the linear pools to inform when yield is earned.
- Audits: FRAX See here
- Centralization vectors: USDC is inherently centralized. FRAX governance process is highlighted above, and their stability mechanism is described here. Also their decentralization ratio is described here.
- Market History: See USDC here . and FRAX here .
- Value: LPs & Balancer will earn the protocol fee on underlying bb-am-USD as well as swap fees. BIP-19 will incentivize TVL to continue to grow here with trading volume and this implementation will continue to draw in new volume, as well as showcase the power of these pool types.
Link to pool: 0x8fbd0F8e490735CFc3AbF4f29cBdDD5c3289b9A7
Link to gauge: 0xecF0a26a290cbf3DDBAB7eC5Fb44Ef5A294cAc18
Specification
The Balancer Maxi LM Multisig eth:0xc38c5f97B34E175FFd35407fc91a937300E33860 will interact with the GaugeAdderv3 0x5efBb12F01f27F0E020565866effC1dA491E91A4 and call the addPolygonGauge function with the following argument:
0xecF0a26a290cbf3DDBAB7eC5Fb44Ef5A294cAc18 which corresponds to the Polygon root gauge for this pool.