Gauge Proposal Template: Proposal to add pmUSD/crvUSD pool to Gauge Controller
References/Useful links:
Pool deployed here.
Gauge deployed here.• Website | https://raac.io/
• Documentation | https://docs.raac.io/
• Github Page | RAAC Protocol · GitHub
• Communities | RAAC
Protocol Description:
RAAC (Real Asset Acquisition Corp) is a decentralized Real World Asset DeFi ecosystem bringing physical assets such as gold and real estate into the decentralized finance liquidity matrix. Its RWf(x) product issues stablecoins - the first being pmUSD - a stablecoin pegged to USD and over collateralized by tokenized gold.
Motivation:
Adding the pmUSD/crvUSD gauge drives deeper integration of real-world asset-backed stablecoins into Curve’s liquidity dominance. pmUSD has over 100M of PoL to deploy within the Curve ecosystem, and specifically one of the core pair is crvUSD. This will bolster its dominance and velocity within DeFi - supporting Curve’s primary mandate of deep stablecoin liquidity. Incentivising this pool aligns with that broader madnate + ecosystem diversification and TVL expansion - further RAAC has a veToken model that will be also applied to the LPs. This synergy ties together RWA liquidity growth, leveraging Curve’s stablecoin infrastructure for the emerging collateral class on the protocol.
Specifications:
Please answer in a short and clear manner.
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Governance: Provide current information on the protocol’s governance structure. Provide links to any admin and/or multisig addresses, and describe the powers afforded to these addresses. If there are plans to change the governance system in the future, please explain.
The protocol is managed by the RAAC Team with security admin control over contracts during deployment phases (Beta). Upon TGE the protocol’s governance will be managed partly by the DAO. No public multisig addresses available at the moment.
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Oracles: Does the protocol rely on external oracles? If so, provide details about the oracles and their implementation in the protocol.
The underlying gold price that the system intakes uses Chainlink oracles for price feeds and proof of reserves in tokenization and peg maintenance: https://data.chain.link/feeds/ethereum/mainnet/xau-usd
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Audits: Provide links to audit reports and any relevant details about security practices.
Core Protocol Audits | Audits - Technical Docs
On-chain Gold Audit (via Chainlink Proof of Reserve): https://ion-digital.instruxi.dev/
pmUSD Dashboard (Alpha): https://pmusd.raac.io/ -
Centralization vectors: Is there any component of the protocol that has centralization vectors? E.g. if only 1 dev manages the project, that is a centralized vector. If price oracles need to be updated by a bot, that is a centralized vector. If liquidations are done by the protocol, that is also a centralization vector.
The protocol itself is decentralized, and is a refactored fork of f(x) Protocol V1 - and requires minimal human interaction to operate. The underlying collateral is in IRL gold collateral which is managed and tokenized by the entities ION and Instruxi.
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Market History: Has the asset observed severe volatility? In the case of stablecoins, has it depegged? In the case of an unpegged asset, have there been extreme price change events in the past? Provide specific information about the Curve pool: how long has it been active, TVL, historical volume?
No as an RWA-backed stablecoin, pmUSD aims to provide stability and lower volatility relative to crypto-native assets through collateralization by tokenized gold and precious metals. Given its recent release, pmUSD trades near its USD peg with price data showing 0.99–1.01 USD range, a market cap around $9M, and modest liquidity on Uniswap V3, via early market activity. With said approval, around 100M in initial PoL will be deployed to Curve specifically to bolster a healthy liquidity market for all stakeholders.
Learn more at: https://raac.io/