Proposal to add CRV token to GLP

Proposals
1

I propose to add the CRV token to GLP on Arbitrum and Avalanche.

I noticed that the BTC and ETH utilization is mostly low, so I would propose to reduce the BTC and ETH weight by 1% each and add 2% CRV instead. Curve is one of the most prominent defi apps, so I assume there will be some interest in leverage trading the CRV token.

This could make the GMX trading platform more attractive and increase the trading volume. Additionally, it would only slightly increase the GLP volatility if CRV is added with a weight of 2%.

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2

In order to estimate the utilixation of CRV, we should take a look at utilization of LINK and UNI compared to BTC and ETH
In general, adding new assets is good for the platform, but first we need to apply a cap on shorting LINK, UNI, AVAX, CRV

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3

thank you for the proposal, makes sense to add it, we haven’t added new tokens because we are still implementing the changes in GLP Performance Improvements, once that is completed we will start adding new tokens, should be a few weeks to complete

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4

I’d say a holistic review of what other assets are of potential interest would be a good discussion as well. Demand is for sure the primary factor, but liquidity on Arbitrum / Avalanche is probably relevant to, to ensure the pool can stay in balance easily.

Looking at Dydx for example, the second highest tx volume on perpetual futures is in CRV, ahead of both UNI and LINK by almost ~50%. Probably some merits in looking at others here as well like Matic - which is close to 3x more volume than any of these - or Aave, which is on par with Link/UNI.

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5

good point, definitely should evaluate those to decide on which ones to add first

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