PR with Payload
Summary:
Enable Balancer gauges with 2% caps for xusd/mevUSDC and xbtc/mevBTC Stable Pools on Avalanche, the xusd/vgUSDC Stable Pool on Arbitrum, and the xusd/vgUSDC Stable Pool (Mainnet)
xusd is fully backed by a basket of assets used in on-chain and centralized exchange strategies, and is issued by Stream Finance.
mevUSDC is a Silo Vault curated by MEV Capital.
mevBTC is a Silo Vault curated by MEV Capital.
vgUSDC is a Silo Vault curated by Varlamore.
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:
Link to:
• Website: https://app.streamprotocol.money/
• X: https://x.com/StreamDefiGithub: Stream Protocol · GitHub
Protocol Description:
Stream Finance is the issuer of xusd and xbtc, which are backed by assets used in yield generation through on-chain and centralized exchange strategies. Cross-chain support is handled via LayerZero OFTs.
Users can mint/redeem xusd and xbtc at exchange rate (1 xusd != 1 usdc) with a cooldown of up to 24h, depending on time of mint/redeem. Accrued yield increases the value of 1 xusd/xbtc overtime.
Motivation:
The role of the listed StableSurge pool is to increase the secondary market on-chain liquidity of xusd and xbtc, while connecting the Stream, Silo & MEV/Varlamore Capital ecosystems.
The capital efficiency of StableSurge pools is helping to bootstrap a liquidity network for xusd and xbtc.
By using StableSurge a comparably small amount of initial capital can provide a disproportionately deep market for xusd and xbtc.
Gauges:
xusd/vgUSDC Mainnet: 0xc13a3315806f097cee00e39c4285f5Bf250DD8a4
xusd/vgUSDC Arbitrum:
–> Child: Address: 0x89293481...7c3bd5ed7 | Arbitrum One
–> Root: Address: 0x8c872278...12e2dd854 | Etherscan
xusd/mevUSDC Avax:
–> Child: Address: 0x3ca28555...d6388d58a | SnowScan
–> Root: Address: 0x4f23ccc4...3f1d1c1aa | Etherscan
xbtc/mevBTC:
–> Child: Address: 0xec4f410c...76a911fc7 | SnowScan
–> Root: Address: 0xc429d060...83cbbbb37 | Etherscan
Technical Specification
The Balancer Maxi Omni-Sig 0x9ff471F9f98F42E5151C7855fD1b5aa906b1AF7e will interact with the GaugeAdderv4 at 0x5DbAd78818D4c8958EfF2d5b95b28385A22113Cd and call the addGauge function with the following arguments:
gauge(address):0xc13a3315806f097cee00e39c4285f5bf250dd8a4
gaugeType(string): Ethereum
gauge(address):0x8c8722786aa9651b65425680642564a12e2dd854
gaugeType(string): Arbitrum
gauge(address):0x4f23CCC4349E9500d27C7096bD61d203F1D1C1Aa
gaugeType(string): Avalanche
gauge(address):0xc429d0602365f09a9257be3be14c94b83cbbbb37
gaugeType(string): Avalanche