[FIP 268] Add GRAI/FraxBP to FXS gauge controller
Author: MajeStyle, growth @ Gravita Protocol
Background:
Gravita is a borrowing platform based on Liquity that is focused on bringing interest-free borrowing to liquid staking token holders. Borrowing occurs by minting GRAI, the debt token of Gravita, which is burned when debts are repaid. Over-leveraged borrowers are liquidated via a stability pool, where GRAI holders can deposit.
References/Useful links:
- Gravita Website -> https://www.gravitaprotocol.com/
- Gravita Documentation -> https://docs.gravitaprotocol.com/gravita-docs/
Motivation:
Deep liquidity for GRAI helps both to stabilize the price and facilitate borrowers. GRAI price will be further stabilized in the future with a redemption mechanism similar to Liquity. However, the system functions much better if the redemption mechanism is rarely used. Sourcing liquidity between GRAI and stablecoins like FraxBP is the primary bottleneck to the growth of Gravita and will be where the majority of resources go for the foreseeable future. That will start with protocol revenues, then governance tokens when the token launches.
Curve Pool Address: 0x3175f54a354c83e8ade950c14fa3e32fc794c0dc Token: 0x15f74458aE0bFdAA1a96CA1aa779D715Cc1Eefe4 Curve Gauge: 0x8d5af1f5dd3dc4b73e3a9af682adc3641fade9a5
Voting:
For: Add the GRAI/FraxBP pool to the FXS gauge controller
Against: Do nothing
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0x7240...07b5Bf | 27.31M | 100% for For, 0% for Against |
 0xC418...DC5f75 | 3,936 | 50% for For, 50% for Against |
 0x37B1...c85724 | 2,997 | 100% for For |
 0xFC4E...E897CF | 2,716 | 100% for For |
 0x83C6...7036E9 | 1,495 | 100% for Against |
VOTE POWER
Proposal Status
- Mon July 24 2023, 05:41 pmVoting Period Starts
- Sat July 29 2023, 05:41 pmEnd Voting Period
Current Results
1-For
27.319M
2-Against
3,484.162