title: [SGR] Create wstk scUSD & wstk scETH Gauge
author: @Rings & @TokenLogic
created: 2025-01-17
Target Pair: PT-sw-wstkscUSD / sw-wstk scUSD & PT-sw-wstkscETH / sw-wstkscETH TBA
IBT Contract Address: TBA
Twitter Link: x.com
Network: Sonic
Simple Summary
Rings is a meta-stablecoin built on Sonic by Mithras Labs (Paladin contributors) and Tholgar, with the help of Layer 0 (bridge) and Veda (vaults). Launched on the 20th of December, it is one of the fastest growing protocols on Sonic.
To mint scUSD and scETH, users must provide curated assets that are then deposited in low-risk yield bearing strategies. Users can then stake or lock the meta-asset in order to earn additional yield, Rings Points and Sonic Points.
This proposal aims to add a Gauge for the wstkscUSD & wstkscETH Spectra Pairs
The pool for the wstkscUSD & wstkscETH pairs are live since Jan 17th.
We’d like to add this pool to Spectra’s gauge system to incentivise liquidity of our PT, as it would enable the yield of wstkscUSD & wstkscETH to be traded and speculated on.
Benefits of this integration for Rings
- Additional yield opportunities for the users;
- Increase the visibility of the project;
- Create a way for users to speculate on Rings Points, Sonic Points and the yield of the Veda Strategies;
- Use of the 40K veAPW from Paladin to bootstrap emissions.
Benefit of this integration for Spectra
- Bootstrap and significantly increase the tokenized TVL and the AMM TVL;
- Diversify the yield possibilities;
- Increase Spectra’s visibility;
- Give access to Sonic Points Rings points with high multipliers;
- Deploy the first Yield Markets on Sonic.
Metrics:
Rings TVL: $13.6m
stkscUSD TVL: $1.9m
stkscETH TVL: $0.6M
Means:
None
Community poll:
- Yes, add wstk scUSD & wstk scETH pools to Spectra’s gauge system
- No, do not add wstk scUSD & wstk scETH to Spectra’s gauge system
Disclosure
TokenLogic and Rings do not receive any payment for this proposal.
Copyright
Copyright and related rights waived via CC0.