AI summary
This proposal suggests creating a new lending pool for FRAX, a stablecoin, within the Gearbox protocol. This new pool would allow users to borrow and lend FRAX, similar to existing pools for USDC and DAI. The motivation is the high popularity of FRAX-related assets on Gearbox and a recent offer from the FRAX community to provide 2 million FRAX to seed this new pool. The proposal also outlines specific Loan-to-Value (LTV) ratios for various collateral assets when borrowing from the FRAX pool.
If passed, Gearbox users will have more options for leveraging their assets using FRAX, potentially increasing liquidity and reducing liquidation risks for those using FRAX as collateral. The protocol would benefit from increased activity and potentially a 2 million FRAX (approximately $2 million USD) injection from the FRAX community, boosting its total value locked. Users who hold FRAX or wish to borrow it will benefit.
Voting results
🐳 Whale votes
0 votes > 5% VPFull proposal
Motivation
Gearbox has gotten noticeable traction after the launch of Leverage Ninja mode. FRAX related assets have become the most popular since then with around $20M worth of FRAX related convex/curve pools* which makes it reasonable to consider adding a separate Gearbox FRAX pool in order to increase available liquidity and decrease liquidation risks at the same time.
Proposal
Taking into account the popularity of FRAX related assets as well as recent proposal from the FRAX community to seed FRAX pool with 2M FRAX**, I propose to create a new pool: FRAX [0x853d955aCEf822Db058eb850591…