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Aura FinanceAura Financeby0x021C5536bd60bCe9f15FB0E32746e332E3fbFAF4Aura Finance BIPs

[BIP-420] Refund Voting Incentives for Pools Shut Down Due to Bug Report

Voting ended over 2 years agoSucceeded

PR with Payload

https://github.com/BalancerMaxis/multisig-ops/pull/496

Authors: Json

Background

The bug disclosure made by Balancer last week resulted in many pools being “killed” (i.e. no longer eligible to receive BAL rewards), this event coincided with the end of an Aura voting round. This proposal seeks to make whole projects who placed voting incentives or votes on affected pools, to a sum of $19.6k in USDC.

This event resulted in roughly $84k worth of voting incentives/votes being placed on affected pools, which would no longer be able to be honored by Aura/Balancer. Fortunately, Balancer contributors were able to swiftly create replacement pools/gauges with non-boosted pools to provide projects an alternative place for their votes to be cast.

Specifications

Of the ~$84k affected votes, the final proposed refund amount stands at $19.6k, based on the value of provided incentives at the time and thanks to many projects opting to reallocate. This proposal is to refund the following amounts in USDC to the affected projects:

Project Gauge Value Refund address Transaction
Stader ComposableStable ETHx/bb-a-WETH $8700 0x68258012DA3B933a81617FD08c9382a60B87cA98 https://etherscan.io/tx/0x2aaa5e2aea3c632e0049bf00509876f02586b44d849814a2fe982126014fbf78
Overnight** a-ComposableStable bb-USD+/DOLA $2500 0xc38c5f97B34E175FFd35407fc91a937300E33860 https://etherscan.io/tx/0x6440ac617b652fd69f1f404d8022df3c965540e56dc641792e35e360c6a43dc5
Gearbox ComposableStable bb-g-USDC/bb-g-DAI $4600 0x7b065Fcb0760dF0CEA8CFd144e08554F3CeA73D1 https://etherscan.io/tx/0x949dfe5ead53a9213a2b68c35c7fe8a6da43a9cafd69b8a8c8f04ee6fd98c792
Tranchess ComposableStable qETH/bb-a-WETH $3800 0x1bf019A44a708FBEBA7ADc79bdaD3D0769fF3a7b https://etherscan.io/tx/0x0b4dbd820a0314efca4a481e0b7c8bfce5a92497dee226fba7936defc1370c92

Therefore, the Balancer DAO multisig 0x10A19e7eE7d7F8a52822f6817de8ea18204F2e4f would refund the specified amounts to the corresponding refund addresses. The DAO Multisig will interact with USDC 0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48 by writing transfer passing each address above, and their corresponding amount.

** Currently, there is discussion in regard to a separate issue that has affected Overnight pool users. This proposal is open to being amended to be cognizant of the governance results from that proposal.

Voting

This vote will be a single-choice vote. You may vote “For” or “Against” this proposal, or choose to abstain from the vote. By voting “For” this proposal, you are voting in favor of the above refunds being made.

Off-Chain Vote

Yes, let's do it
9.3M vlAURA99.3%
No, this is not the way
20.95K vlAURA0.2%
Abstain
40K vlAURA0.4%
Download mobile app to vote

Discussion

Aura Finance[BIP-420] Refund Voting Incentives for Pools Shut Down Due to Bug Report

Timeline

Sep 06, 2023Proposal created
Sep 07, 2023Proposal vote started
Sep 11, 2023Proposal vote ended
Jan 17, 2025Proposal updated