Proposal: Adding an FXN Gauge to USDaf/fxUSD/BOLD/USDC Pair
Introduction
Asymmetry Finance proposes adding an FXN gauge to the USDaf/fxUSD/BOLD/USDC pair to direct incentives. This will boost liquidity, increase trading volume, and enhance rewards for LPs and voters in the FXN ecosystem, while promoting USDaf, and deepening fxUSD liquidity across key stables, including BOLD and USDC
References
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Website: https://asymmetry.finance
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Curve Pool: DeFi Stable Avengers Curve.Finance
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X: @asymmetryfin
Protocol Description
Asymmetry Finance, an officially Licensed Liquity v2 fork, offers USDaf, a synthetic dollar borrowed against BTC or yield-bearing stablecoins (e.g., wBTC, tBTC, sfrxUSD, scrvUSD, ysyBOLD, sUSDS). USDaf is a friendly fork of Liquity v2 and the only immutable Ethereum mainnet deployment other than Liquity themselves.
Specifications
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Governance: ASF token holders and Asymmetry DAO govern via veASF
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Oracles: Chainlink oracles are used for collaterals in USDaf, with crvUSD EMA fallback oracles in the event that Chainlink prices go stale for wBTC and tBTC
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Audits: USDaf and the Liquity v2 codebase has been audited 13 times, including a $100k Cantina open audit competition
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Centralization Risks: Fully decentralized, permissionless borrowing, and transparent minting, with no off-chain dependencies.
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Market History: USDaf launched successfully and has over $14m in TVL
Proposal Details
Adding an FXN gauge to USDaf/fxUSD/BOLD/USDC will:
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Increase Liquidity: Incentives deepen liquidity for easier trading. This brings more USDC liquidity for fxUSD.
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Boost Volume: More traders increase USDaf/fxUSD/BOLD/USDC activity.
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Enhance Rewards: Better returns for LPs and veFXN voters.
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Drive Adoption: Exposes USDaf to Protocol f(x) users, as well as exposing fxUSD users to USDaf, mutually growing the reach of both protocols. Also helps to introduce Liquity BOLD users to Fx, a fellow pristine DeFi stablecoin.
Conclusion
The USDaf/fxUSD/BOLD/USDC FXN gauge will enhance liquidity, volume, and rewards, benefiting both Asymmetry and Protocol f(x) ecosystems. We request veFXN voters to support this proposal.