Enable Cake/PNP (0.25% fee tier) V3 gauge on Arbitrum One chain

Gauges
1

Overview

  • PNP trading is currently not available on Arbitrum while Penpie provides bribes in PNP for the gauge Pendle-mPendle

Background

  • With the introduction of veCake and the emergence of a bribe market, projects may provide bribes without the corresponding liquidity on PCS. This is the case of PNP
  • Users have the possibility of providing liquidity Cake-PNP on Arbitrum and if it reaches a minimum amount (for example $10,000) then a gauge could be created. It would enhance trading on Arbitrum and create a new Cake pair

Details

  1. Boost Multiplier and Emission Cap % : Default
  2. Audits:
    audit/Penpie/WatchPug_V1.pdf at main · magpiexyz/audit · GitHub
    audit/Penpie/WatchPug_V2.pdf at main · magpiexyz/audit · GitHub
  3. Token Utility: Penpie locks Pendle tokens to obtain governance rights
  4. Volatility:
  5. Oracles:
  6. Control:
  7. Merit: Bring traders from bribes paid on Arbitrum by Cakepie and Penpie
  8. Vault Strategy (for Position Managers only):
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2

Thank you for the proposal @Sebabesse!

Firstly, to create a gauge, we will need the liquidity pool to be initialized so that an LP address can be created. We will then assess its market metrics, among other things, in deciding whether or not to approve the gauge.

At first glance, it seems most of the liquidity for PNP is currently on another DEX, and its current volume, while good, might not be the most attractive for PancakeSwap as a DEX right now.

If there are other compelling reasons to push for the gauge, please do include them in a separate comment.

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