PR with Payload
Summary:
Xave Finance (pronounced “Save Finance”) has built an FX optimized AMM on top of the Balancer v2 Vault, the “FXPools”. Xave is quickly progressing in its mission to bring liquid FX to the Balancer ecosystem.
As of Nov ’23, Xave has facilitated ~$50M in stablecoin FX, has held an average of ~$3M fiat stablecoin TVL and is hitting ~$1.8M / wk in FX vol representing roughly 30% MoM growth.
Xave is proposing to re-add the following gauges into the veBAL system, given these stablecoin pairs were successfully approved for gauges prior. Xave had to migrate LPs into new FXPools, thus the need for a new set of gauges to re-enable veBAL emissions for these stablecoin currency pairs. See our Medium article describing the bug, response and fix for more information.
Prior votes that approved gauges for these pairs:
GBPT:USDC vote
EURS:USDC vote
XSGD:USDC vote
References/Useful links:
| Pool | Pool Address | Root Gauge | Child Gauge |
|---|---|---|---|
| Ethereum USDC/EURS | 0x5f8b11995d7f95faa59ca6fd5ffa1c0dbbe0ec7b | 0x008EB79DBE2Efcf8A9586F8F697464BE65D39eFf | |
| Ethereum GBPT/USDC | 0x73f8e7a9a19e284a9ac85704af58454cfe75f059 | 0x4a3d252d121c627F2450f06412Ca5c5A62e662f2 | |
| Polygon XSGD/USDC | 0xe6d8fcd23ed4e417d7e9d1195edf2ca634684e0e | 0x2B7Bd050d7E0341fB49fF96f32eA59Bd8087d487 | 0x3DD7F73d807b7AA4A1112b30319201e9798D27C4 |
About Xave:
Stats: https://dune.com/xavefinance/amm
Website: http://xave.co
App: https://app.xave.co/
Docs: https://docs.xave.co
Twitter: https://twitter.com/XaveFinance
Original Announcement: HaloDAO Aims to Bring DeFi to the Masses with Custom AMM Built on Balancer V2 | by HaloDAO | Balancer Protocol | Medium
FXPool Audits - Xave Finance
Protocol Description:
Xave has been gaining adoption on its’ first custom pool type - the FXPool - that brings liquid FX markets to the Balancer ecosystem.
Motivation:
“Bringing FX markets to the Balancer ecosystem”
https://vnx.io/ (issuing CHF, EUR, Gold stablecoins), https://straitsx.com/ (issuing SGD, IDR stablecoins), https://poundtoken.io/ (issuing GBP stablecoin) and https://stasis.net/ (issuing EUR stablecoin) - among many other partnered issuers that have not yet applied for gauges - are leveraging Xave to bring real world use cases and economic activity to the Balancer ecosystem.
Specification:
The Balancer Maxi LM Multisig eth:0xc38c5f97B34E175FFd35407fc91a937300E33860 will interact with the GaugeAdderv4 at 0x5DbAd78818D4c8958EfF2d5b95b28385A22113Cd and call the addGauge function with the following arguments:
gauge(address):0x008EB79DBE2Efcf8A9586F8F697464BE65D39eFf
gaugeType(string): Ethereum
gauge(address):0x4a3d252d121c627F2450f06412Ca5c5A62e662f2
gaugeType(string): Ethereum
gauge(address):0x2B7Bd050d7E0341fB49fF96f32eA59Bd8087d487
gaugeType(string): Polygon