PR with Payload
Summary:
This is a proposal to enable Balancer gauge on Ethereum Mainnet for sUSDX/USDX/aUSDT pool.
References/Useful links:
Link to:
- Website: https://usdx.money/
- Documentation: https://docs.usdx.money/
- Github Page: USDX Token · GitHub
- Communities: X, Telegram, Discord
Protocol Description:
- Stables Labs is a stablecoin infrastructure project, with USDX as its first product.
- USDX is a synthetic stablecoin, designed to offer a stable, censorship-resistant, crypto-native money. USDX captures yield from crypto-native sources and distributes it back to its users.
- sUSDX is a staked version of USDX; yield for sUSDX currently stands around 3.5%.
- USDT is a fiat-backed USD-denominated stablecoin, issued by Tether.
Motivation:
- Stables Labs has concluded Season 1 of its points campaign, and saw rapid increase in its TVL. Our previous collaboration with Balancer has proven extremely effective, as our sUSDX/USDX became Balancer v2 Arbitrum’s biggest pool (TVL ~$10M). We would like to use sUSDX/USDX/aUSDT Balancer v3 pool on Mainnet to boostrap long-awaited mainnet liquidity, and allow users to enjoy greater yield, and deep pool of liquidity to swap through.
Specifications:
- Governance: currently owned by 0x3f9a06aD4c83c289DF83461fE5F24EE4c4491935 (3 out of 4 multisig).
- Oracles: The protocol does not reply on external oracles.
- Audits: link. Additional audit reports can be viewed on Audit | usdx.money
- Centralization vectors: The centralization vectors primarily relate to the owner of the contracts, which is a 3 out of 4 multisig. The team has 15 full-time, doxxed contributors.
- Market history: USDX has not previously de-pegged, and sUSDX is an ERC4626 token. Balancer pools for USDX/USDT and sUSDX/USDX have previously been deployed.
- Value: USDX currently has $620M in TVL, making it the 4th largest protocol by TVL on BNB Chain, and 6th largest protocol by TVL on Arbitrum. We will also be launching our RWA product soon, which would bring healthy amount of attention and activities around Stables Labs and USDX.
sUSDX -USDX-aUSDT Pool Balancer DeFi Liquidity Pools
Gauge Vyper_contract | Address 0x2A42644C1D3e1b4FE6d01Fdbc995Fc402694a49f | Etherscan
Technical Specifications:
Transaction: 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): 0x2A42644C1D3e1b4FE6d01Fdbc995Fc402694a49f
gaugeType(string): Ethereum