Proposal to add BTCWITCH ABTC Cryptoswap Pool to Gauge Controller

Gauge Proposals
1

Summary:

This is a proposal to add the BTCWITCH / ABTC Cryptoswap LP on Fraxtal to the Curve Gauge Controller.

Gauge Address: 0xc92F87eC717d92ed41f51E2CF9A2153B8f9a052b

References/Useful links:

BTCWITCH ABTC Cryptoswap Pool applying for Gauge Whitelisting: Curve.finance

BTCWITCH Agent Landing Page on the Agent Tokenization Platform by IQ: IQ AI | Alive Agent | $BTCWITCH

Astral Yield Bearing BTC Documentation: https://astral.onl/docs-abtc

Protocol Description:

BTCWITCH tokens are a new type of on-chain AI Agent backed token, launched on IQAI on Fraxtal Network.

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 BTCWITCH ABTC Cryptoswap Pool, the yield generated from pool held ABTC tokens is deposited into this same pool and the corresponding LP deposit tokens are burned, which creates more permanent liquidity for BTCWITCH tokens over time.

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 BTCWITCH Agent to distribute Agent Portfolio returns to BTCWITCH holders in a more capital efficient manner compared to Merkl Campaign distributions, while simultaneously adding long term value fo BTCWITCH tokens through compounding yield being converted into permanent liquidity.

Specifications:

  1. Governance: BTCWITCH tokens are managed 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 BTCWITCH and ABTC tokens the same level of security as the factory contracts that made them.

  4. Centralization vectors: All components are decentralized using multisig and weighted token treasuries.

  5. Market History: Since BTCWITCH is a small-cap AI-DeFi token, it has experienced significant volatility since deployment. ABTC has experienced a small amount of volatility compared to WBTC, well within the pre-set system parameters.