This proposal aims to whitelist the new Curve-based helper contract and update the FiRM UI to point users towards the new TriDBR LP and away from the DOLA-DBR LP on Curve. In doing so, users will be able to seamlessly buy and sell DBR with better rates and lower slippage directly from the FiRM UI. The proposal will also remove whitelist status in the BorrowController for two old helper contracts, pointing to the DOLA-DBR LP on Curve and the DOLA-DBR LP on Balancer.
Proposal #089 introduced a helper contract for FiRM users to buy and sell DBR when opening, managing, and closing their positions without needing to use external websites. This proposal relied on Balancer as the platform to buy and sell DBR. A follow up proposal, Proposal #105, redirected this functionality to DOLA-DBR Curve LP by whitelisting a new helper contract. While this LP made use of CurveV2’s pricing algorithm, this current proposal seeks to redirect the FiRM UI once again to point to a new TriDBR LP. This LP stands to provide an improved trading experience for FiRM users, due to superior routing, a more reliable price oracle, and optimized gas parameters all brought about by Curve’s Tricrypto-NG.
Curve v2, launched in August 2021, introduced several key improvements over the original version of the protocol; one of them being the introduction of a new pricing algorithm that provides tighter spreads and lower slippage for traders. This new algorithm was designed to be more capital-efficient than the original, which means that users can trade larger volumes with lower price impact. In addition to the new pricing algorithm, Curve v2 introduced a new “liquidity gauge” feature, which allows liquidity providers to earn additional tokens as a reward for providing liquidity to the protocol and consequently improves the trading experience for all users. Lastly, Curve v2 also includes several other technical improvements that make the protocol more efficient and cost-effective, including reduced gas costs due to improvements to the protocol’s smart contract infrastructure. In June, 2023, Curve introduced the Tricrypto: the Next Generation or NG. TriCrypto-NG presents a variety of improvements on the prior Tricrypto, including features like ERC20 compatibility, a permit method for gasless approvals, and better price oracles. Most importantly, TriCrypto-NG brings about significant improvements to gas efficiency. The TWG seized on this latest development by creating the TriDBR (DOLA-DBR-INV) LP.
The TWG is pursuing the Curve DAO to whitelist a gauge for the TriDBR LP. This process involves drafting a proposal, socializing it on Curve Finance’s forum and ultimately a voting process via Curve Governance. If a Curve gauge is whitelisted for the TriDBR pool, Inverse would make use of accumulated veCRV voting power to incentivize LPs to provide liquidity to the pool. This will result in a deeper LP, which will ultimately make for better trading rates and accommodate for larger swaps from FiRM users.
By updating the FiRM helper contract to use the new TriDBR LP on Curve, FiRM users will be able to buy and sell DBR more efficiently and with better rates. This change will improve the overall user experience and will help bring about the next wave of users to FiRM.
- Whitelist the new Curve-based TriDBR LP helper contract in the FiRM borrow controller
- Remove FiRMCurveHelper Contract from Whitelist
- Remove FiRMBalancerHelper Contract from Whitelist