[BIP-327] Enable rETH / bb-a-wETH Gauge [Ethereum]

PR with Payload

Summary:

This pool uses the ComposableStablePoolFactory-v3 1 which addresses the reentrancy vulnerability disclosed during February 2023. This gauge is uncapped, and would enter as a “core pool” under BIP-19. This means 65% of 50% of yield generated by this pool is to be used for bribing for votes on it via Hidden Hand. The remaining 35% goes to Balancer DAO as revenue.

This proposal is for a new pool rETH / bb-a-wETH to be created on Ethereum.

References/Useful links:

• Website
• Documentation
• Github Page
• Communities

Protocol Description:

This pool utilises rETH and linear pool bb-a-wETH which deposits wETH into Aave v3 wETH reserve.

Motivation:

The rETH pool on Ethereum is one of our most profitable pools in terms of fees earned per dollar of emissions. This pool offers depositors expsoure to an additional yield source, Aave Protocol, relative to the existing rETH/wETH pool.

Incorporating the bb-a-wETH will lead to additional revenue to Balancer DAO and also additional incentives flowing through to Hidden Hand which veBAL holders can benefit from.

Specifications:

1. Governance: Please see this guide which outlines Rocket Pool’s DAO structure.
2. Oracles: Ethereum rETH Oracle, see here
3. Audits: For Rocket Pool and Aave v3, see below

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

4. Centralization vectors: Rocket Pool is a protocol for decentralized and trustless ETH2 staking.
5. Market History: See rETH and wETH.
6. Value: Balancer will earn the protocol fee on rETH yield and deposit yield generated by Aave v3 on Ethereum via bb-a-wETH.

Link to Pool: rETH / bb-a-WETH Pool - 0x481C5fc05D63a58AA2f0F2aA417C021B5d419cB2 Link to Gauges: rETH / bb-a-WETH Gauge - 0x9fB7D6dCAC7b6aa20108BaD226c35B85A9e31B63

Transaction:

The Balancer Maxi LM Multisig eth:0xc38c5f97B34E175FFd35407fc91a937300E33860 will interact with the GaugeAdderv4 at 0x5DbAd78818D4c8958EfF2d5b95b28385A22113Cd and call the addGauge function with the following arguments: Uncapped Gauge: gauge(address): 0x9fB7D6dCAC7b6aa20108BaD226c35B85A9e31B63 gaugeType(string): Ethereum

Disclosure:

This proposal is the sole work of @Llama contributor, @Matthew_Graham, via the legal entity TokenLogic. Llama is a Service Provider to Aave DAO.