[SGR] auraECLP-paUSD-GYD (Maturity April 2025) Gauge Listing Request

Gauge Requests (SGR)
1

Gauge Request Presentation:

Simple summary:

This proposal suggests adding a gauge for the auraECLP-paUSD-GYD pair. sw-auraECLP-paUSD-GYD-vault is the interest-bearing token for auraECLP-paUSD-GYD, the Balancer LP token (staked on Aura Finance) used in the paUSD & GYD liquidity pool. Users can deposit paUSD & GYD on Balancer or Gyroscope to ECLP-paUSD-GYD, then stake it in the Spectra IBT, which accrues interest by reinvesting BAL and AURA rewards into additional ECLP-paUSD-GYD LP tokens.

The pool also receives SPIN points from the Gyroscope points program. SPIN points are distributed to YT holders.

Parallel is a decentralized protocol that issues stablecoins, PAR (EUR stablecoin) and paUSD (USD stablecoin), on the Ethereum, Polygon and Fantom blockchains. The PAR & paUSD stablecoin are decentralized, non-custodials, and collateral-backed FIAT stablecoins.

The Parallel DAO treasury currently owns 25k veAPW (in sdAPW) and plan to use them to vote for the gauge.

Gyroscope is a decentralized stablecoin featuring a novel all-weather stablecoin design combined with more efficient stablecoin liquidity pools. Gyroscope’s stablecoin Gyro Dollars (GYD) is designed to be fully backed by a basket of assets with fundamental innovations in risk control built in at the protocol level. GYD’s innovations aim to segment and contain risks from across the asset space and include: Automated risk diversification rules, optimized minting and redemption bonding curves that guide the protocol on how to use reserve assets to maintain stability, a new resilient oracle and circuit breaker system that handles stress.

Note: Mimo Labs, a contributor to the Parallel protocol owns 160k veAPW (in sdAPW), as well as 250k liquid APW. We plan to use them to vote for the pool if the gauge is approved.

Benefit of this integration for Parallel & Gyroscope:

  • Additional Yield: More sustainable yield opportunities for paUSD & GYD token holders.
  • Increased TVL: Boost in TVL for the liquidity pool.
  • Project Visibility: Enhanced visibility within the DeFi space.

Benefit of this integration for Spectra:

  • Higher TVL: Increase in tokenized and AMM TVL.
  • Yield Diversification: Broader yield options for users.
  • Platform Visibility: Greater exposure for Spectra.
  • Bribe Opportunities: Potential for bribes to benefit APW token holders.

Metrics:

  • Parallel:
    • TVL: $12.8M
    • Twitter: 1k
    • Discord: 800
    • Telegram: 3.6k
  • Gyroscope:
    • TVL: $33.9M
    • Twitter: 17.7k
    • Discord: 14.1k
    • Telegram: N/A

Community poll:

  • Yes, create a gauge
  • No, do not create a gauge
0 voters