[BIP-426] Enable ALTR-WETH Gauge [Ethereum] with 2% emission cap

Voting ended over 2 years agoSucceeded

PR with Payload

https://github.com/BalancerMaxis/multisig-ops/pull/504

Summary: Enable a Balancer gauge for ALTR-WETH pool on Ethereum. ALTR is the token issued by the Alternity Protocol. It captures the fee revenue that is generated by the system. Link to pool: 0x47e1cf97a0586367349a14306a65f54ba0b8f1b6 Link to gauge: 0xeE707Ae5500DD9072aC0daB1170DD16d9AddD68F

References/Useful links:

Link to: • Website • Documentation • Github Page
• Twitter

Protocol Description:

Alternity is a decentralized protocol built on the Ethereum blockchain, inspired by the design of the Liquity Protocol.

The protocol provide users with a stablecoin that is pegged to the Chinese Yuan, achieved by utilizing Ether as the required collateral. Loans are paid out in LCNY (a CNY pegged stablecoin) and need to maintain a minimum collateral ratio of 110%.

Alternity aims to cater to users who value diversification and seek alternatives to USD-pegged stablecoins.

As a protocol, Alternity is non-custodial, immutable, and governance-free.

Motivation:

Alternity Protocol is addressing the growing demand for a stable, decentralized, and Yuan-pegged financial instrument in the DeFi ecosystem. As the global economy continues to evolve, the need for diverse stablecoin options that cater to various markets becomes more evident.

Recognizing China's growing influence and the rising importance of the Yuan, Alternity offers an alternative solution with a Yuan-pegged stablecoin, providing diversification, risk management, and a more robust DeFi ecosystem.

Incentivization to this pool will help drive liquidity for users who want to use decentralized and immutable CNY pegged stable in order to diversify their portfolio. Stable diversification will ultimately lead to rather healthier DeFi ecosystem.

Specifications:

Governance: Governance free.
Oracles: There are no oracles for ALTR token.
Audits: Alternity is a Liquity fork that was audited by:

Centralization vectors: There are no centralization vectors. Alternity and Liquity are built to have maximized resilience.
Market History: Alternity has limited history, as it is a new protocol in the process of bootstrapping. The protocol was launched on the 19th August 2023 and attracted more than 125 ETH in trove deposits. The success of LUSD has shown interest in this type of assets.
Value: This pool will be the main point of liquidity for ALTR. We will participate in bribe markets and as new project we expect to see a decent amount of swap volume.

Specification:

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): 0xeE707Ae5500DD9072aC0daB1170DD16d9AddD68F gaugeType(string): Ethereum