[FIP - 359] Add Re7 FRAX on Ethereum to the FXS Gauge Controller
Author
Re7 Labs
Summary
Proposal to add Re7FRAX MetaMorpho vault to the FXS gauge controller.
Background And Motivation
Morpho Blue is a decentralized protocol that facilitates overcollateralized lending and borrowing crypto assets (ERC20 Tokens) on the Ethereum Virtual Machine. The protocol, designed as an immutable smart contract, serves as a trustless base layer for lenders, borrowers, and applications, with risk management layers provided by MetaMorpho.
Re7 Labs, specializing in DeFi R&D and liquid crypto investment strategies has deployed the initial set of USDe/FRAX and sUSDE/FRAX markets and added them to the new Re7FRAX MetaMorpho vault.
Adding the Re7FRAX vault to the FXS gauge controller on Ethereum will allow depositors to get additional FXS rewards, increasing the supply and leading to higher borrow demand for FRAX within the Morpho Blue system. Additionally Morpho will provide MORPHO token incentives to vault depositors, contingent on a successful gauge vote.
Pool Details
Re7FRAX
Pool/Token: 0xBE40491F3261Fd42724F1AEb465796eb11c06ddF
Vote
・For: Add Re7FRAX on Ethereum to the FXS gauge controller ・Against: Do nothing
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0x7240...07b5Bf | 29.101M | 84.1% for For, 15.9% for Against |
 0xb481...DFe79A | 3,137 | 100% for For |
 0x37B1...c85724 | 2,098 | 100% for For |
 0x7AAE...2C5AA6 | 1,562 | 100% for For |
 0x1144...9C4B18 | 1,407 | 100% for For |
VOTE POWER
Proposal Status
- Mon May 20 2024, 04:40 pmVoting Period Starts
- Sat May 25 2024, 04:40 pmEnd Voting Period
Current Results
1-For
24.497M
2-Against
4.613M