Proposal to add savUSD/USDC pool to Gauge Controller

Gauge Proposals
1

Summary:

Proposal to add savUSD/USDC pool to Gauge Controller

References/Useful links:

Pool deployed | Curve.finance

Gauge deployed | Etherscan

• Website: https://www.avantprotocol.com/

• Documentation: https://docs.avantprotocol.com

• Github Page: Avant Protocol · GitHub

• Communities: Discord

• Twitter: https://x.com/avantprotocol

Protocol Description:

Avant has quickly established itself as a leader in decentralized finance (DeFi). Its flagship product, the avUSD suite, has achieved a peak total value locked (TVL) of over $135 million and a total protocol TVL exceeding $170 million, making it one of the fastest-growing yield products in the industry. savUSD generates returns for holders through a dynamic, market-neutral multi-strategy framework. This approach diversifies capital across various on-chain yield sources, allowing it to adapt to changing market conditions and ensure both stability and growth.

Motivation:

Avant Protocol is committed to building deep, sustainable integration within the Curve ecosystem on Ethereum mainnet by proposing the addition of a gauge for the savUSD/USDC pool. This marks a key initial step in establishing deep liquidity for savUSD, a yield-bearing stable-value token backed by advanced, market-neutral DeFi strategies.

To accelerate growth, Avant will actively participate in bribing to drive mid-seven-figure liquidity in the near term. In addition, Avant has already begun rewarding LP depositors with Avant Points, giving Curve users a material stake in Avant’s future. Achieving this depth fulfills the final requirement for launching savUSD markets on Pendle, enabling powerful yield-trading strategies such as PT-savUSD fixed yields, YT-savUSD upside exposure, and leveraged PT and naked savUSD looping.

These integrations will attract significant trading volume, deepen overall liquidity, and generate sustained swap fees that directly benefit veCRV holders through Curve’s proven revenue-sharing model. Avant views Curve as a core partner for long-term alignment and is dedicated to delivering ongoing value to the community through incentives, liquidity support, and ecosystem contributions.

Specifications:

  1. Governance:

Avant currently operates under an admin-MPC–based governance model. Critical protocol parameters and privileged actions are controlled via MPC workspaces with quorum-based approvals. Governance is not yet token-based and does not rely on on-chain DAO voting.

Avant uses multiple MPC-controlled addresses with defined scopes:

  • Admin MPC (parameter authority, cross-chain control)

    • Address: 0xd4d23209aaE8630bf386b7393763a5b7865e57cb

    • Threshold: 3-of-4 signers (core Avant team members)

    • Powers:

      • Protocol parameter changes

      • Cross-chain contract control (Avalanche + Ethereum)

      • Governance-level configuration updates

  • Operational MPCs (automation & rewards)

    • Avalanche MPC: 0xD5456b9A997768601bEdF15f91C0500943C698D

    • Ethereum MPC: 0xAF6Fd55a83B0F85b41330E2B25512C2b669786D2

    • Powers:

      • Automated minting and redeeming

      • Distribution of protocol rewards

      • Execution of predefined operational workflows

Additionally, two senior engineers currently hold emergency pause authority to halt the protocol if required. There is an intent to evolve beyond the current admin-MPC governance structure in the distant future.

  1. Oracles:

At the core protocol level, Avant is designed such that issuance and redemption do not inherently require price oracles.

However, for the savUSD Curve pool integration, external oracles are used to transmit rates across chains.

  • savUSD Net Asset Value (NAV) is struck once weekly.

  • Yield is manually deposited into a contract and distributed into an ERC-4626 vault on Avalanche over a 7-day period.

  • A Chainlink oracle reads the ERC-4626 exchange rate on Avalanche.

  • This rate is relayed to Ethereum mainnet.

  • The Ethereum savUSD ERC-20 uses this relayed rate, which is then reflected in the Curve pool pricing.

As a result, the Curve pool’s savUSD rate is indirectly dependent on the availability and accuracy of the Chainlink oracle.

  1. Audits:

Yes. Avant smart contracts have undergone multiple independent audits by:

  • Cyfrin

  • Dedaub

  • Omniscia

Across these audits, no Major, High, or Critical findings were reported. Audit reports are publicly available at: https://docs.avantprotocol.com/security/audits

Avant also employs a multi-layered security framework, including:

  • Key management: MPC with granular policy controls and full audit trails, and uses an external provider for secure backup private-key storage.

  • Operational security (OPSEC): hardened devices, access controls, and role-based permissions. In-house Head of Security

  • Application security (APPSEC): ongoing reviews and advisory support from Trail of Bits and other specialist firms.

  • Monitoring & incident response: 24/7 on-chain monitoring via Hypernative and other external providers.

  1. Centralization vectors:

While Avant employs strong operational security, several centralized or semi-centralized components exist:

  1. Admin MPC control

    • A limited signer set controls protocol-level parameters.

  2. Emergency pause authority

    • Currently held by two senior engineers.

  3. Manual yield operations

    • savUSD yield is manually deposited, and NAV is manually struck weekly.

  4. Oracle dependency for Curve

    • savUSD Curve pricing depends on Chainlink oracle reads and cross-chain relays

These vectors are mitigated through quorum controls, monitoring, audits, and emergency procedures, but they remain relevant risk considerations.

  1. Market History:

Both avUSD and savUSD have about one year of live operation on Avalanche with no observed depegs. Both assets have demonstrated stable performance throughout their operational history. The curve pool in question was deployed very recently, and there is no meaningful historical trading or volatility data to report at this time.