# \[BIP-876\] Enable Gauge for USDp/USDC Stable Pool with a 2% cap (Base) **URL:** \ **Category:** BAL Gauges\ **Created:** [September 26, 2025, 11:25pm UTC](https://forum.balancer.fi/t/bip-876-enable-gauge-for-usdp-usdc-stable-pool-with-a-2-cap-base/6842 "2025-09-26T23:25:44Z")\ **Posts on this page:** 3\ **Page:** 1
**Author:** ![JeanBrasse](https://yyz1.discourse-cdn.com/flex027/user_avatar/forum.balancer.fi/jeanbrasse/32/2069_2.png) [@JeanBrasse](https://forum.balancer.fi/u/JeanBrasse)\ **Post date:** [September 26, 2025, 11:25pm UTC](https://forum.balancer.fi/t/bip-876-enable-gauge-for-usdp-usdc-stable-pool-with-a-2-cap-base/6842/1 "2025-09-26T23:25:44Z")
## PR with Payload > > > \-\[Proposal\](https://forum.balancer.fi/t/bip-876-enable-gauge-for-usdp-usdc-stabl…e-pool-with-a-2-cap-base/6842) # **Summary:** Enable a Balancer gauge for the USDp/USDC (USDp-USDC) StableSurge [pool](https://balancer.fi/pools/base/v3/0x3bCf4e84c32D90bb309eAB58D97b70372c84BC2C) with a 2% cap on Base. USDp is fully backed by a basket of correlated assets and issued by the Parallel Protocol. USDC is fully backed by cash & cash-equivalent assets and issued by Circle. The pool is a StableSurge pool. StableSurge pools are a type of stable pool designed for assets that usually trade at nearly the same value or have a predictable exchange rate. What makes StableSurge pools different is that they use a special feature, called a hook, to automatically adjust the swap fee based on how balanced the pool is during a trade. # **References/Useful links:** ## **Parallel Protocol:** - Website: [https://parallel.best/](https://parallel.best/) - Documentation: [https://docs.parallel.best/](https://docs.parallel.best/) - Code: [https://github.com/parallel-protocol](https://github.com/parallel-protocol) - Social: [https://twitter.com/ParallelMoney](https://twitter.com/ParallelMoney) - Audits: [https://docs.parallel.best/resources/security-audits](https://docs.parallel.best/resources/security-audits) ## **Circle:** - Website: [https://www.circle.com/](https://www.circle.com/) - Documentation: [https://developers.circle.com/](https://developers.circle.com/) - Social: [https://x.com/circle](https://x.com/circle) # **Protocol Description:** ## **Parallel Protocol** Parallel is a scalable, modular, over-collateralized & decentralized stablecoin protocol issuing USDp, a crypto-redeemable stablecoin backed by yield generating correlated assets, with cross-chain support via LayerZero. The protocol consists of a decentralized price-stability module where you mint/burn USDp at oracle price (not 1:1) against correlated assets without any cooldown. Generated yield by backing of the stablecoin is distributed to stablecoin stakers. Currently a USD stablecoin, called USDp is deployed across 16 chains: - USDp: Parallel USD Stablecoin - sUSDp: Staked USDp (4626), receive yield from the stablecoin backing # **Motivation:** The role of the USDp/USDC StableSurge pool is to increase the on-chain liquidity of USDp, and connect the Parallel and Circle ecosystems. The capital efficiency of StableSurge pools will help to quickly bootstrap a liquidity network for USDp against USDC. By using StableSurge a comparably small amount of initial capital can provide a disproportionately deep market for USDp against USDC. **A few notes:** - Mimo Labs, a contributor of the Parallel Protocol built [positions](https://debank.com/profile/0x4a266739E40664e80470CC335120a2A1fA0B3F3f) in AURA (1M vlAURA), used to vote for Parallel pools. - The Parallel Protocol [treasury](https://pro.octav.fi/parallelprotocol/treasury) currently holds ±90k vlAURA, used to vote for Parallel pools. - The Parallel Protocol Insurance Fund holds ±1.3M AURA, used to vote for Parallel pools. - Parallel has been using Balancer since June 2021 for Parallel assets. # **Specifications:** 1. Governance: - **Parallel Protocol:** none on-chain governance (vote via [snapshot](https://snapshot.org/#/mimo.eth)) and decisions are executed through a ⅝ multi-sig ([elected](https://docs.mimo.capital/parallel-protocol/governance/dao-multisig) by sPRL holders). - **Circle:** USDC is a centralized entirely controlled by Circle. 1. Oracles: - **Parallel** rely on Chainlink & Redstone price feeds for mint & burn. - **Circle** doesn’t rely on oracles for mint & burn. 1. Audits: - **Parallel** : [https://docs.parallel.best/resources/security-audits](https://docs.parallel.best/resources/security-audits) 1. Assets & Centralizing vector: - **Parallel:** The DAO Multisig can upgrade all USDp related contracts. Part of the backing of USDp may be centralized assets, which is not the case right now. - **Circle:** 1. Market history: - **USDp** has been live since August 2025 on Base; USDp is pegged to USD. - **USDC** has been live since August 2023 on Base; USDC is pegged to USD. 1. Value: - The USDp/USDC stable pool will act as the main route for arbitrages and the use cases mentioned above (on-chain liquidity, etc.). # **Contracts** - Balancer Pool (Base): [0x3bCf4e84c32D90bb309eAB58D97b70372c84BC2C](https://basescan.org/address/0x3bCf4e84c32D90bb309eAB58D97b70372c84BC2C#code) - USDp Token (Base): [0x76a9a0062ec6712b99b4f63bd2b4270185759dd5](https://basescan.org/token/0x76a9a0062ec6712b99b4f63bd2b4270185759dd5) - USDC Token (Base): [0x833589fcd6edb6e08f4c7c32d4f71b54bda02913](https://basescan.org/address/0x833589fcd6edb6e08f4c7c32d4f71b54bda02913#code) - Gauge (child): [0xe82f04593e34f3d51ca50ab84e164c778314a3c5](https://basescan.org/address/0xe82f04593e34f3d51ca50ab84e164c778314a3c5#code) - Gauge (root): [0xc9fffc7d9810d2a3deee7de70e2fb41781a5d779](https://etherscan.io/address/0xc9fffc7d9810d2a3deee7de70e2fb41781a5d779#code) ### Technical Specifications The Balancer Maxi Omni-Sig `0x9ff471F9f98F42E5151C7855fD1b5aa906b1AF7e` will interact with the `GaugeAdderv4` at `0x5DbAd78818D4c8958EfF2d5b95b28385A22113Cd` and call the `addGauge` function with the following arguments: gauge(address):`0xc9fffc7d9810d2a3deee7de70e2fb41781a5d779` gaugeType(string): `Base` ---
**Author:** ![Raq](https://yyz1.discourse-cdn.com/flex027/user_avatar/forum.balancer.fi/raq/32/3661_2.png) [@Raq](https://forum.balancer.fi/u/Raq)\ **Post date:** [October 1, 2025, 7:40pm UTC](https://forum.balancer.fi/t/bip-876-enable-gauge-for-usdp-usdc-stable-pool-with-a-2-cap-base/6842/2 "2025-10-01T19:40:50Z")
Edit by Maxis: - assign BIP ID - add payload ---
**Author:** ![Xeonus](https://yyz1.discourse-cdn.com/flex027/user_avatar/forum.balancer.fi/xeonus/32/3621_2.png) [@Xeonus](https://forum.balancer.fi/u/Xeonus)\ **Post date:** [October 2, 2025, 1:33pm UTC](https://forum.balancer.fi/t/bip-876-enable-gauge-for-usdp-usdc-stable-pool-with-a-2-cap-base/6842/3 "2025-10-02T13:33:58Z")
[https://snapshot.box/#/s:balancer.eth/proposal/0xf3215010ab1f7fa49573e05fd4d10f780cb96994b63d32b370f48b2423cfee7d](https://snapshot.box/#/s:balancer.eth/proposal/0xf3215010ab1f7fa49573e05fd4d10f780cb96994b63d32b370f48b2423cfee7d)