This is a proposal for a partnership between Reflexer and Angle on CurveV2.
Disclaimer: I am from Angle Core Team and I am proposing this to see whether our respective communities support the idea
Context
Angle is a decentralized stablecoin protocol. We have launched our first stablecoin, agEUR, three months ago and have become one of the biggest Euro stablecoin in the market.
As any stablecoin protocol, Curve is super important for Angle. So far we have successfully built and grown 2 pools: one agEUR/EURt/EURs pool, and one agEUR/ibEUR pool. We’ve got gauges for these two pools which now accumulate CRV and CVX rewards.
Building liquidity for other stablecoins has also been quite important for us: that’s why we accept FEI and FRAX as a collateral, and that’s why we have pools with them on other DEXes.
Proposal
Now that Curve V2 Factory pools are live, what we propose here is to make a common pool with RAI on Curve that both protocols incentive in a similar proportion with their native tokens: ANGLE for Angle Protocol and FLX for Reflexer.
The idea would be to start incentivizing LPs of the pool to grow it to a significant amount before getting a gauge vote there. ANGLE and FLX emissions could then serve to bribe vlCVX voters.
Another option would be to directly apply to the gauge vote and then start bribing jointly on Convex to incentivize liquidity here.
Besides potential yield opportunities for RAI and agEUR holders, this factory pool would unleash several opportunities, among which:
- it would open arbitrage opportunities as RAI and agEUR are tokens which are both linked to other tokens
- agEUR and RAI are two assets integrated in many different places in DeFi. Opening a bridge like that through a Curve pool would allow people to seamlessly flow from one asset to another and enjoy the different things RAI and agEUR have to offer. For instance, it could also allow RAI holders to easily take advantage of agEUR’s bridging capabilities to other chains
Overall, curious to hear community’s feedback on this pool! The key point here is that to get the gauge on Curve, it’s crucial to be confident that the gauge will get volume which I am given the different nature of the two assets and the integrations they both have!
