[BIP-743] Enable USR/GYD gauge [Ethereum]

PR with Payload

https://github.com/BalancerMaxis/multisig-ops/pull/1577

Summary

This is a proposal to enable one uncapped Balancer gauge for USR-GYD E-CLP.

References/Useful links

Links

• Documentation of E-CLPs
• Gyroscope (GYD)
• Resolv (USR)
• Github (Gyroscope)
• Github (Resolv)
• Discord (Gyroscope)
• Discord (Resolv)
• X (Gyroscope)
• X (Resolv)

Protocols Description

GYD is a USD denominated meta-stablecoin, issued by Gyroscope. USR is the novel delta-neutral stablecoin fully backed by ETH and pegged to the US Dollar, issued by Resolv.

Motivation

Gyroscope & Resolv are further expanding their liquidity networks around respective stablecoins (GYD & USR). Collaboration on a joint pool strengthens the relationships between Gyroscope and Resolv.

Specification

Governance: The Gyroscope Protocol will be governed by a DAO and relevant stakeholder with the full launch on Ethereum. For now, the FTL Labs multi-sig can pause the pool, change the swap fee and set the protocol fee. As a custom pool by Gyroscope, the E-CLP will be controlled by Gyroscope governance upon its launch. Oracles:

• ‘rateProvider0’: 0x00
• ‘rateProvider1’: 0x00

1. Audits:
   1. Audit reports by Nethermind, Trail of Bits, and Runtime Verification can be accessed here (the E-CLP is called the “CEMM” in these reports). In addition, the E-CLP code has been live in production since November 2022.
   2. Core Resolv SCs were audited by MixBytes, Pessimistic and Pashov. Reports can be accessed here https://docs.resolv.xyz/litepaper/resources/security
2. Centralization vectors: No centralization vectors. The FTL Labs team’s multi-sig can - currently - pause the pool, change the swap fee and set the protocol fee.
3. Resolv Market History: Was accelerated by Delphi Labs in 2023, went live public in September 2024. TVL at start was $15 mln, as of end of November 2024 it increased to $35 mln and $58 mln as of Dec 9 2024. The largest secondary market: USR-USDC Curve pool had $7 mln liquidity as of Dec 9 2024.
4. Value: This pool is intended to better match the historic prices and low volatility of the included tokens.

Contracts

E-CLP: 0x8461537a9BfC5A1dF57cF825F8A58049eF61557B Gauge on Ethereum: 0xF8150d9599a9c994A9528d7a28AF1262BE4e3ebd