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Aura FinanceAura Financeby0x021C5536bd60bCe9f15FB0E32746e332E3fbFAF4Aura Finance BIPs

[BIP-258] Enable STG/bbaUSD Gauge [Arbitrum]

Voting ended almost 3 years agoSucceeded

PR with payloads

https://github.com/BalancerMaxis/multisig-ops/pull/146

Summary:

This pool contains a boosted / linear stable pool token bb-a-USD - Balancer's AAVE boosted stable pool token & STG. STG is a governance token which must be staked to apply to Stargate’s governance in a vote escrowed fashion. Stargate focuses on cross-chain / omnibridge solutions. They have become a large source of revenue for Balancer an ETH and OP, so expansion makes sense for both parties. The protocol will be earning yield on the boosted portion of this pool, making the token pairing more efficient for both parties. This gauge would enter as a “core pool” under BIP-19, meaning protocol fees earned by this pool would be used to bribe for votes on it.

References/Useful links:

USDC: Link to: • Website • Documentation • Github Page • Communities - Coingecko link Stargate (STG) Link to: • Website • Documentation • Github Page • Communities - Telegram link

Protocol Description:

bb-a-USD is a Balancer's primary stable coin liquidity on mainnet, leveraging AAVE's boosted strategy. STG is the Stargate governance token.

Motivation:

Balancer is pushing for multichain dominance across the Defi landscape and Stargate facilitates this type of initiative. This pool is will support STG holders in providing a healthy destination for their governance tokens and bb-a-USD to benefit LPs, traders, and Balancer overall. This tightens the partnership with Stargate while providing optimized liquidity circumstances for all parties.

Specifications:

  1. Governance: Find more information about governance on Stargates’s forum. USDC is centralized and does not have a governance forum.
  2. Oracles: This pool only relies on the rate providers of the linear pools to inform when yield is earned.
  3. Audits: See here
  4. Centralization vectors: USDC is inherently centralized, STG can be justified here.
  5. Market History: See here.
  6. Value: Balancer will earn the protocol fee on underlying bb-a-USD yield. The BIP-19 flywheel will incentivize TVL to continue to grow here with trading volume and Stargate will continue to build a aligned market capture strategy through Balancer on multiple chains.

Link to pool: 0xD3D5d45f4Edf82ba0dFaf061d230766032a10e07 Link to gauge: 0x8204b749B808818DEb7957DbD030ceEA44D1FE18

The DAO Multisig 0x10A19e7eE7d7F8a52822f6817de8ea18204F2e4f will interact with the AuthorizerAdaptor at 0x8F42aDBbA1B16EaAE3BB5754915E0D06059aDd75 and call performAction with the GaugeController at 0xC128468b7Ce63eA702C1f104D55A2566b13D3ABD for the target(address) argument and using 0x3a04f900 followed by the gauge address 0x8204b749B808818DEb7957DbD030ceEA44D1FE18 and the corresponding gauge type for the data(bytes) argument.

data(bytes) :

0x3a04f9000000000000000000000000008204b749b808818deb7957dbd030ceea44d1fe180000000000000000000000000000000000000000000000000000000000000004

Off-Chain Vote

Yes, let's do it
5.2M vlAURA100%
No, this is not the way
0 vlAURA0%
Abstain
0 vlAURA0%
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Discussion

Aura Finance[BIP-258] Enable STG/bbaUSD Gauge [Arbitrum]

Timeline

Apr 18, 2023Proposal created
Apr 20, 2023Proposal vote started
Apr 24, 2023Proposal vote ended
Jan 17, 2025Proposal updated