Enable USD+/AERO (0.05% fee tier) V3 gauge on Base Chain

Gauges
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Overview

The protocol requests a gauge whitelist for pool, the USD+/AERO 0.05% tier on Base, which will help kickstart this integration of PancakeSwap liquidity in the overall liquidity of the project.

Background

Overnight is a cutting-edge decentralized finance (DeFi) platform that offers users innovative solutions to maximize their earning potential. By combining the stability of traditional financial instruments with the advantages of blockchain technology, Overnight revolutionizes the way individuals interact with the financial ecosystem.

At the core of Overnight is the concept of stablecoin-based DeFi. The platform introduces stablecoins like USD+, DAI+,ETH+, and USDT+ that are designed to maintain a stable value relative to their underlying assets. These stablecoins serve as foundational building blocks for users to access various opportunities within the DeFi landscape.

http://overnight.fi/ is a protocol focusing on asset management, with a specialization in neutral-risk strategies. At the heart of its product line is USD+, which is a yield-driven stablecoin, fully backed by collateral. This collateral for USD+ is rooted in DeFi strategies that generate returns. These strategies encompass lending to platforms like Aave, and include both stablecoin-to-stablecoin and neutral-risk strategies.

Overnight would like to start its PancakeSwap integration by asking for a gauge whitelist for the USD+/AERO pool (0.05%) on Base.

Should the gauge be added, veCAKE holders will benefit from it, and the protocol will use veCAKE vote incentives to deepen the pool’s liquidity.

Details

  1. Boost Multiplier and Emission Cap %: 1.00x boost multiplier and 1% emission cap
  2. Token Utility: USD+ is the main protocol rebase token
  3. Volatility: No volatility
  4. Oracles: Plus tokens don’t use oracles,but we are using oracles in strategies that we are investing in. We are using Chainlink on Arbitrum and Pyth on ZkSync. We are using oracles for calculating P&L and also to assess the cost of collateral
  5. Control: Only members of the OvnAgent group can execute proposals.
    On Base chain:
    AgentTimelock - 0x8ab9012D1BfF1b62c2ad82AE0106593371e6b247
    OvnAgent - 0xAba227eAd919E060B95B02bab2270646840bF9bC.
    Owners of OvnAgent:
  • 0x66B439c0a695cc3Ed3d9f50aA4E6D2D917659FfD
  • 0x3f914C1D6afEeD65570A54177EFcC0bd0a65b81f
  • 0xC33d762fC981c0c1012Ed1668f1A993fC62f9C66
  • 0xe497285e466227F4E8648209E34B465dAA1F90a0
  • 0x0bE3f37201699F00C21dCba18861ed4F60288E1D
  1. Merit: Should the gauge be added, veCAKE holders will benefit from it, and the protocol will use veCAKE vote incentives to deepen the pool’s liquidity.

Links

  1. Token addresses:
  • USD+ 0xB79DD08EA68A908A97220C76d19A6aA9cBDE4376
  1. Liquidity pool address: 0x62996340a9bFEeE2A72bfAE8F21b8c0A5E692261
  2. Website: https://overnight.fi/
  3. Socials:
  1. Documentation:
    https://docs.overnight.fi/
  2. Github:
    overnight.fi · GitHub
  3. Any other relevant links:
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Thank you for your application! The Kitchen has enabled the USD+/AERO (0.05% fee tier) V3 gauge on Base with 1x boost multiplier and 0.5% emissions cap.