Spectra Gauge Request:
- Underlying asset - SPECTRA
- Targeted Pair: base:0x8311acb37d13d7b0b56728d11e42fc4b9b4f503c
- IBT contract address: base:0xa39D400b57eD1772e9b3ec982AC433389ed2F16A
- Current TVL on in the Pair’s liquidity: $36k
- Current TVL as IBT: 2.4m SPECTRA
- Links: base.impermax.finance
- Chain : Base
- Expiry : 1st January, 2026
Simple summary:
This proposal aims to add a Gauge for imxSPECTRA pool on Base. The pool is for the Lenders of SPECTRA token. The older pools have been live for about 2 months. We’d like to add this pool to Spectra’s gauge system to incentivise liquidity of our PT, as it would enable a higher Liquidity for SPECTRA, which benefits us as a loyal SPECTRA holder.
Deeper Mechanisms
To understand imxSPECTRA better, allow us to introduce Equalizer & Impermax to you first
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the SPECTRA/USDC pool on Equalizer on Base is a classic Liquidity Pool, where you can Farm SCALE rewards with your SPECTRA/USDC LP tokens. It has indeed been paying 20% - 50% APR ever since SPECTRA token’s launch. LPs are paid SCALE while the veSCALE voters earn 100% of the Trade Fees that this pool generates. see https://base.equalizer.exchange/liquidity/0x3994018571CB07e48cCc98D27857062bc8969DBE/add
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the SPECTRA/USDC pool on Impermax is a “Leverage” Yield Farm on top of the Equalizer LP farm. You can borrow upto 2x the worth of your LP tokens, borrowed as SPECTRA + USDC, which you can use to Farm at a higher (upto 3x) APR. Impermax autocompounds (i.e. dumps the SCALE to buy SPECTRA + USDC) the underlying Equalizer Farm. At 1x leverage it behaves like a simple autocompounder like beefy.
See Impermax V2 (Base). -
You can also Lend SPECTRA on Impermax to the Leverage Farmers, enabling them to borrow “component” tokens for their 3x apr strats. Borrowers pay an interest (similar to Aave/Compound) to the Lenders. This APR has been between 5% - 25% over the last 3-4 months consistently.
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Finally, the imxSPECTRA is an ERC4626 “wrapper” on top of this Impermax Lending pool of SPECTRA. this wrapping makes it compatible with Spectra’s Yield Marketplace, enable people to speculate on the APR change of this SPECTRA Lending Pool on Impermax
You can freely mint or redeem it through a Universal ERC4626 UI.
Benefits of this integration
Protocols that this pool will be useful:
- For Spectra
- Increase the visibility of SPECTRA
- Increase the TVL of the SPECTRA/USDC liquidity pool on Equalizer
- Enable SPECTRA holders to Earn SPECTRA, without any emissions!
- Put more Buy Pressure on SPECTRA via auto-compounding
- For Impermax V2
- More TVL, more users, more exposure, more fees.
- For Equalizer
- More Revenue to veSCALE holders driven by SPECTRA price volatility & demand dynamics, via Trade Fees generated on SPECTRA/USDC
- For Market Makers
- Earn more Yield from Same Capital through cheaper borrow costs for Leverage Farming
What it helps with:
- Additional yield opportunities for the community or the protocol treasury
- Increase the visibility of SPECTRA
- Increase the TVL of the SPECTRA/USDC liquidity pool on Equalizer
- Volatility Trading of SPECTRA, since Equalizer APRs depend on volatility-volume, which in turn define how far borrowers are willing to pay for extra yield through Impermax V2’s Leverage Farming, which dictates what the Lending Yields for SPECTRA are.
Benefit of this integration for Spectra
- Increase the tokenized TVL and the AMM TVL
- Diversify the yield possibilities
- Increase Spectra’s visibility
- bribes for SPECTRA token holders
There are of course a lot more implicit benefits since the underlying asset of this pool is SPECTRA itself. It directly promotes SPECTRA, its usage, and now with Fixed Income, drives demand for it, especially since Spectra Protocol is not the one paying for these rewards.
Metrics:
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Impermax V2
Impermax v2 has had mid 8-figure TVL running since Half a Decade.
(Not to be confused with Impermax V3.) -
Equalizer
Among the oldest ve(3,3) dexes, running since October 2022. Has 2000+ weekly active unique users and strong social presence. -
IBT - imxSPECTRA
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TVL
(Stats as viewed on eliteness.network/erc4626?v=0xa39D400b57eD1772e9b3ec982AC433389ed2F16A) -
Historical Rates
(APRs as viewed on app.spectra.finance/pools/base:0x8311acb37d13d7b0b56728d11e42fc4b9b4f503c)
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Means:
Equalizer, Impermax & Eliteness have showed interest in Promoting and will likely be Bribing for this pool.
Community poll:
- Yes, lets go! This helps SPECTRA!!
- no…
Questions welcome below!
