Summary:
This is a proposal to add the BTCWITCH / ABTC Cryptoswap LP on Fraxtal to the Curve Gauge Controller.
Gauge Contract: 0xA492f1333e3461199EF0Aae4399539AE64557cC3
References/Useful links:
ABTC / WBTC Stableswap Pool Page: Curve.finance
Astral Yield Bearing BTC Documentation: https://astral.onl/docs-abtc
Protocol Description:
ABTC tokens are a new type type of yield bearing derivative tokens, backed by WBTC. ABTC tokens feature the unique capacity for programmatic yield distribution, which enables multiple avenue for ABTC yield to be distributed, depending on where ABTC tokens are deposited or held.
In the case of the ABTC/WBTC Cryptoswap Pool, if this Proposal is approved, the yield generated from pool held ABTC tokens will be used to place bribes for the ABTC/WBTC Stableswap pool.
ABTC tokens generate yield primarily through Yield Basis Pools, and secondarily through a combination of Curve Illamalend Markets and Resupply.
Motivation:
Deploying a Curve Gauge for this pool will enable the ABTC Protocol to distribute ABTC Protocol Rewards to ABTC holders in a more capital efficient manner compared to Merkl Campaign distributions.
Specifications:
1. Governance: The ABTC Protocol is controlled by a weighted voting DAO composed of BTCWITCH token holders. Contract deployed via the ATP Governance Factory on Fraxtal: 0xB47c4D33DFFEc7675Ba5Ef5cBF95F87cf1E6F26E.
2. Oracles: No Oracles are used.
3. Audits: All contracts used were created from Factory Generator Contracts which grants ABTC tokens the same level of security as the factory contracts that made them.
4. Centralization vectors: All components are decentralized using multisig-treasuries.
5. Market History: ABTC has experienced a small amount of volatility compared to WBTC, well within the pre-set system parameters.