[BIP-411] Enable GHO/USDT/USDC Gauge [Ethereum]

Payload with PR:

https://github.com/BalancerMaxis/multisig-ops/pull/484

Summary:

This pool uses the ComposableStablePoolFactory-v5 which addresses the reentrancy vulnerability disclosed during February 2023. This pool is to be uncapped.

This proposal is for the creation of a new 3pool, GHO / USDT / USDC, on Ethereum.

References/Useful links:

GHO

• Website
• Documentation
• Github Page
• Communities

Protocol Description:

Aave Protocol The Aave Protocol is a decentralized liquidity protocol that is deployed across many EVM compatible networks including but not limited to Optimism, Arbitrum, Avalanche and Polygon. Currently, the Aave Protocol has a TVL of approximately $6.9 Billion.

• GHO is a decentralized multi-collateral stable coin that is fully backed, transparent and native to the Aave Protocol.
• USDT is a centralised stable coin issued by Tether.
• USDC is a centralised stable coin issued by Circle.

Motivation:

This proposal aims to add a veBAL gauge for GHO-USDC-USDT.

This pool has the potential to be added to Aave DAO's SM at a later date if the Aave DAO elects to do so.

Some veBAL holders prefer to support this new 3pool instead of GHO/BPT (USDC/DAI/USDT)

Specifications:

1. Governance:

• AAVE and stkAAVE serve as the governance tokens for the Aave DAO. Holders can vote on proposals at both a Snapshot level and through the Aave DAO on-chain governance portal.

2. Oracles:

• rateProvider0 (for GHO): 0x0 (none)
• rateProvider1 (for USDT): 0x0 (none)
• rateProvider1 (for USDC): 0x0 (none)

3. Audits:

Aave v3

• ABDK
• OpenZeppelin
• Trail of Bits
• Peckshield
• SigmaPrime

GHO

• Sigma Prime
• Sigma Prime
• ABDK
• OpenZeppelin-v2
• OpenZeppelin-v1

4. Centralization vectors:

• Aave Governance is decentralized, and all changes must go through a transparent and well-tested governance process.
• Tether and Circle are both centralised entities with control over which addresses can transfer there stable coin.

5. Market History:

• GHO is used in several liquidity pools
• USDC and USDT are widely used across many liquidity pools.

6. Value:

• This pool is expected to drive meaningful TVL to Balancer and Aura Finance. The assets within the pool are not yield bearing. However, the DAOs will generate revenue from receiving a portion of the swap fees.

Pool Details

Link to Pool: GHO-USDT-USDC Pool - 0x8353157092ED8Be69a9DF8F95af097bbF33Cb2aF Link to Gauges: B-GHO-USDT-USDC - 0xf720e9137baa9C7612e6CA59149a5057ab320cFa

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): 0xf720e9137baa9C7612e6CA59149a5057ab320cFa gaugeType(string): Ethereum

Disclosure:

This proposal is the work of Tokenlogic who is a delegate within the Aave Ecosystem. Details on TokenLogics delegation platform can be found here.