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Aura FinanceAura Financeby0x021C5536bd60bCe9f15FB0E32746e332E3fbFAF4Aura Finance BIPs

[BIP-529] Enable sFRAX-sfrxETH gauge [Optimism]

Voting ended about 2 years agoSucceeded

PR with Payload

https://github.com/BalancerMaxis/multisig-ops/pull/737

Summary:

We request adding sFRAX/sfrxETH weighted pool on optimism to BAL gauge as an uncapped core pool

References/Useful links:

Link to • Website • Documentation • Github Page

Protocol Description:

sFRAX is a staked interest bearing version of FRAX stable coin and sfrxETH is a staked interest bearing version of FRAX's staked ETH (frxETH).

Motivation:

As a joint effort with FRAX and Beethoven X, we aim to increase liquidity of FRAX, sFRAX, frxETH, sfrxETH, to make Balancer a liquidity hub for frax assets on optimism. The BAL gauge and core pool status will facilitate the process.

Specifications:

  1. Governance: FRAX governance process can be seen here and their snapshot here.
  2. Oracles: Rate provider contract for sfrxETH and for sFRAX.
  3. Audits: See here
  4. Centralization vectors: see here.
  5. Market History: See here
  6. Value: Balancer will earn the protocol fee on interest bearing sFRAX and sfrxETH in the pool and so will LPs. The BIP-19 flywheel will incentivize TVL to grow here with trading volume and our staked ethereum pillars will continue to have Balancer as their ideal liquidity destination.

Link to pool: https://op.beets.fi/pool/0x2feb76966459d7841fa8a7ed0aa4bf574d6111bf00020000000000000000011d Link to child gauge: https://optimistic.etherscan.io/address/0x758D3297d9D9325EFb6DD424a7B2EdCaB47e309E Link to root gauge: https://etherscan.io/address/0x8c596E8D1b3Be04a6cAa1B1152b51c495f799a16#code

Specification:

The Balancer Maxi LM Multisig eth:0xc38c5f97B34E175FFd35407fc91a937300E33860 will interact with the GaugeAdderv4 at 0x5DbAd78818D4c8958EfF2d5b95b28385A22113Cd and call the addGauge function with the following arguments: gauge(address):0x8c596E8D1b3Be04a6cAa1B1152b51c495f799a16 gaugeType(string): Optimism

Additionally, this pool is requesting core pool status as per BIP-457

Off-Chain Vote

Yes, let's do it
8.94M vlAURA100%
No, this is not the way
0 vlAURA0%
Abstain
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Discussion

Aura Finance[BIP-529] Enable sFRAX-sfrxETH gauge [Optimism]

Timeline

Jan 11, 2024Proposal created
Jan 11, 2024Proposal vote started
Jan 15, 2024Proposal vote ended
Jan 17, 2025Proposal updated