[GIP-150] Add native USDC market to Optimism
AI summary
This proposal seeks to integrate native USDC on the Optimism network into Gearbox. Currently, Gearbox uses 'bridged USDC' (USDC.e), which is USDC originally from Ethereum. By switching to native USDC, Gearbox aims to align with Circle's strategy to replace bridged tokens with directly issued ones on various chains. This move is intended to make Gearbox eligible for incentives from Optimism in the form of OP tokens.
If passed, Gearbox will gain access to native USDC liquidity on Optimism and could receive OP token incentives, potentially increasing the protocol's treasury. Users will benefit from a more direct and potentially more stable form of USDC. The specific amount of OP tokens to be received is not mentioned, so the financial impact on the treasury cannot be fully determined.
Voting results
🐳 Whale votes
0 votes > 5% VPFull proposal
Authors
@desnakeee
Summary
Deploy native USDC market on Optimism
Motivation
Native USDC was originally issued on Ethereum and then bridged to other chains. Later Circle started a process to replace "bridged USDC" or USDC.e liquidity with native USDC that is issued directly on target chains. Migrating Gearbox activity from USDC.e to USDC market will allow receiving incentives from Optimism for the new market in form of OP tokens.
Technical specification
USDC pool parameters
| token | minRate | maxRate | quotaIncreaseFee | limit | | ------ | ------- | ------- | ----------------…