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Aura FinanceAura Financeby0x098Cf33E0BB24f53A99e31d7837244839008Eb99auraadventurer.eth

[BIP-157] Migrate cbETH/wstETH Gauge [Ethereum]

Voting ended about 3 years agoSucceeded

Summary:

This pool uses the metastable pool factory and contains two liquid staking derivatives of ethereum, cbETH and wstETH. The reason for this pool deployment is to replace the composable stable pool implementation of this pairing with a pool which Balancer can continue to collect the fees on properly. Due to the activation of recovery mode, the current pool is being streamed BAL incentives without the DAO being properly compensated for the fees the pool generates. This proposal will effectively activate this new pool's gauge and kill the current pool's gauge to foster migration of liquidity to the preferred pool.

References/Useful links:

(cbETH) Link to: • Website • Documentation • Github Page • Communities (wstETH) Link to: • Website • Documentation • Github Page • Communities

Protocol Description:

cbETH is Coinbase's liquid staking derivative for ethereum, while wstETH is Lido's wrapped staking derivative as featured in many other Balancer pools.

Motivation:

Described in the summary, the protocol can collect fees on the metastable pool and not the composable stable pool. Moving the incentives will motivate the liquidity providers to migrate their liquidity to the better pool option for Balancer.

Specifications:

Governance: cbETH whitepaper linked as governance is not applicapable, wstETH. Oracles: See each rate provider contract linked here respectively cbETH , wstETH , Audits: See cbETH , wstETH. Centralization vectors: cbETH is from Coinbase and therefore inherently has centralization risks, read the custodial risk section of the whitepaper here. For Lido and wstETH please read here . Market History: See cbETH , wstETH Value: Balancer will earn the protocol fee on all assets 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: 0x9c6d47Ff73e0F5E51BE5FD53236e3F595C5793F2 Link to gauge: 0x01A9502C11f411b494c62746D37e89d6f7078657

Killing current gauge

Pool address: 0x4EdcB2B46377530Bc18BB4D2c7Fe46a992c73e10 Gauge address: 0xe624E9E85A5728072313c4F4720cDF8fD4FFdAFC

If approved, the DAO Multisig 0x10A19e7eE7d7F8a52822f6817de8ea18204F2e4f will interact with the AuthorizerAdaptor at 0x8F42aDBbA1B16EaAE3BB5754915E0D06059aDd75 and call performAction using 0xab8f0945 for the data(bytes) the target target(address) set to the gauge address 0xe624E9E85A5728072313c4F4720cDF8fD4FFdAFC.

Off-Chain Vote

Yes, let's do it
4.36M vlAURA100%
No, this is not the way
0 vlAURA0%
Abstain
0 vlAURA0%
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Discussion

Aura Finance[BIP-157] Migrate cbETH/wstETH Gauge [Ethereum]

Timeline

Jan 12, 2023Proposal created
Jan 12, 2023Proposal vote started
Jan 16, 2023Proposal vote ended
May 29, 2025Proposal updated