Abstract
This is a proposal to add a Euler agEUR Senior tranche gauge to Idle.
Background
Angle is a decentralized stablecoin protocol, it is issuing agEUR which has become one of the biggest Euro stablecoin in the market.
The Angle Protocol has been deploying agEUR to Euler to seed the market there.
Recently, a governance vote passed on Angle to deploy for at least 1 month $250k worth of eagEUR on Idle in the Senior tranche of the pool. Related forum discussion can be found here.
Both protocols were audited and rely on an open source codebase. As for Angle, audits can be found here, and code is available here.
Motivation
A gauge on this pool with help incentivize senior lenders to come on top of Angle, thus creating opportunities for other junior lenders to join the pool, and hence using the Idle product for what itβs been truly built for.
Euler is also one of the best places where to get yield on Euros, and an IDLE gauge could definitely make Idle the main place to get protected Euro yield.
It would also open the door to further integrations involving notably Balancer pools with other senior tranche tokens.
Specifications
The Euler agEUR senior pool has already been deployed by the Idle team. It is available here.
Next Steps
Weβll open a temperature check on this proposal early next week to make sure we can move forward on this.