PR with Payload
Summary
This is a proposal to enable one uncapped Balancer gauge for USR-GYD E-CLP.
References/Useful links
Links
Protocols Description
GYD is a USD denominated meta-stablecoin, issued by Gyroscope. USR is the novel delta-neutral stablecoin fully backed by ETH and pegged to the US Dollar, issued by Resolv.
Motivation
Gyroscope & Resolv are further expanding their liquidity networks around respective stablecoins (GYD & USR). Collaboration on a joint pool strengthens the relationships between Gyroscope and Resolv.
Specification
Governance: The Gyroscope Protocol will be governed by a DAO and relevant stakeholder with the full launch on Ethereum. For now, the FTL Labs multi-sig can pause the pool, change the swap fee and set the protocol fee. As a custom pool by Gyroscope, the E-CLP will be controlled by Gyroscope governance upon its launch.
Oracles:
- ‘rateProvider0’: 0x00
- ‘rateProvider1’: 0x00
- Audits:
- Audit reports by Nethermind, Trail of Bits, and Runtime Verification can be accessed here (the E-CLP is called the “CEMM” in these reports). In addition, the E-CLP code has been live in production since November 2022.
- Core Resolv SCs were audited by MixBytes, Pessimistic and Pashov. Reports can be accessed here Security | Resolv Docs
- Centralization vectors: No centralization vectors. The FTL Labs team’s multi-sig can - currently - pause the pool, change the swap fee and set the protocol fee.
- Resolv Market History: Was accelerated by Delphi Labs in 2023, went live public in September 2024. TVL at start was $15 mln, as of end of November 2024 it increased to $35 mln and $58 mln as of Dec 9 2024. The largest secondary market: USR-USDC Curve pool had $7 mln liquidity as of Dec 9 2024.
- Value: This pool is intended to better match the historic prices and low volatility of the included tokens.
Contracts
E-CLP: 0x8461537a9BfC5A1dF57cF825F8A58049eF61557B
Gauge on Ethereum: 0xF8150d9599a9c994A9528d7a28AF1262BE4e3ebd