We propose the Gelato Network to be whitelisted as pool creators in order to create a new FUSE pool with G-UNI LP tokens as collateral assets. The specific collateral assets for the pool include G-UNI DAI/USDC, G-UNI USDC/USDT, G-UNI DAI/USDT, USDC, USDT, DAI
The Gelato Network is an automation framework that powers a decentralized network of bots that executes smart contract functions on behalf of protocols and users. A number of use cases are already powered by Gelato including limit orders on AMMs, refinancing debt vaults, and the use case that is the topic here, Uniswap v3 LP positions via the G-UNI token.
Because of the way Uniswap v3 is structured, liquidity provider tokens are NFTs instead of ERC-20 toekns that was the standard in Uniswap v2 which left unchanged makes it more difficult for them to become composable in other protocols. What G-UNI accomplishes is that it wraps Uniswap v3 LP positions into an ERC-20 token so it is easier for both users to both participate in liquidity provision and utilize the position into other protocols. G-UNI pools have the added benefit of having fee reinvestment and range management, allowing users to ultimately participate in providing liquidity with ease. Range parameters of upper and lower ticks will be managed by the Gelato multi-sig to begin with. In the future, it could transferred to either community members, a smart contract that automatically rebalances, or burned completely, allowing it to be completely trustless.
Smart Contract Addresses:
G-UNI DAI/USDC: https://etherscan.io/address/0xabddafb225e10b90d798bb8a886238fb835e2053
G-UNI USDT/USDC: https://etherscan.io/address/0x02f88164060912ee44ba9480d05d462d20cff3bc
G-UNI DAI/USDT: https://etherscan.io/address/0xd58c89181360dd9166881fce2bc7c9baae2d5f31
Close Factor: 60%
Liquidation Incentive 15%
Platform Fee: 10%
Collateral | Collateral Factor | Reserve Factor
G-UNI DAI/USDC Collateral Factor / Reserve Factor: 60% / 10%
G-UNI USDT/USDC Collateral Factor / Reserve Factor: 60% / 10%
G-UNI DAI/USDT Collateral Factor / Reserve Factor: 60% / 10%
USDC Collateral Factor / Reserve Factor: 60% / 10%
DAI Collateral Factor / Reserve Factor: 60% / 10%
USDT Collateral Factor / Reserve Factor: 60% / 10%
Uniswap v3 is one of the most innovative and unique offerings in DeFi, allowing LP providers to achieve maximum capital efficiency with a fraction of the capital. G-UNI not only simplifies the process of adding liquidity, but makes it composable into the rest of the DeFi ecosystem. Having G-UNI Fuse pools will increase the utility of G-UNI tokens and because they are stablecoin pairs, they will offer a more conservative option for those who want to lend their assets.
The risks associated with using G-UNI pools are of centralized stablecoins and we are not liable if the central party fails to reach its obligations. In addition, if there is a bug in the contracts which could result in a drain of funds, but after several audits and sufficient amount of time being battle tested, we are confident in the integrity of them.