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Aura FinanceAura Financeby0x021C5536bd60bCe9f15FB0E32746e332E3fbFAF4Aura Finance BIPs

[BIP-620] Enable gauge for wstETH/WETH E-CLP [Gnosis]

Voting ended almost 2 years agoSucceeded

PR with Payload

https://github.com/BalancerMaxis/multisig-ops/pull/1027

Summary

This is a proposal to enable one uncapped Balancer gauge for a wstETH/ WETH E-CLP on Gnosis Chain.

E-CLP's asymmetric concentrated liquidity profile offers capital efficiency improvements. As per previous arrangements between Balancer and Gnosis this pool shall not bear any protocol fees for the time being.

References/Useful links

  • Documentation of E-CLPs
  • Website
  • Github
  • Discord
  • X

Protocol description

  • "wstETH is a wrapped version of stETH. [..] wstETH keeps your balance of stETH fixed and uses an underlying share system to reflect your staking rewards." - Lido
  • WETH is an ERC-20 compliant wrapper of ETH.

Motivation

Gyroscope is expanding to Gnosis Chain.

Specifications

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': WETH rate provider on Gnosis Chain: 0x00
  • 'rateProvider1': wstETH rate provider on Gnosis Chain: 0x09f9611FE9d24c6A518f656E925e3628A2ECDE3b

Audits

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 on Polygon since November 2022.

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.

Market History

The Gyroscope Protocol is live on Ethereum since EOY23, with E-CLPs on several other chains. Details available here .

Value

As per “Motivation”.

Contracts

  • E-CLP: 0x8DD4df4Ce580b9644437f3375e54f1ab09808228
  • Childchain gauge on Gnosis Chain: 0xa1fF1e44E4f8346398767f94ae7DbeAB71522164
  • Gnosis Chain root gauge on Ethereum: 0x6d060a785530cB13795b3c5a43320c462811d43b

Specification

Transaction: 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): 0x6d060a785530cB13795b3c5a43320c462811d43b gaugeType(string): Gnosis

Off-Chain Vote

Yes, let's do it
15.13M vlAURA100%
No, this is not the way
0 vlAURA0%
Abstain
0 vlAURA0%
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Discussion

Aura Finance[BIP-620] Enable gauge for wstETH/WETH E-CLP [Gnosis]

Timeline

Jun 13, 2024Proposal created
Jun 13, 2024Proposal vote started
Jun 17, 2024Proposal vote ended
Jan 17, 2025Proposal updated