[BIP-691] Enable gauge for GYD/wstETH E-CLP [Arbitrum]

PR With Payload: https://github.com/BalancerMaxis/multisig-ops/pull/1312

Summary

This is a proposal to enable one uncapped Balancer gauges on Arbitrum for a GYD/wstETH E-CLP. We propose to only enable protocol fees of 50% once BAL rewards start. Initially, the entire protocol fee revenue will accrue to Balancer.

References/Useful links

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

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Protocol description

• GYD is a USD denominated stablecoin, issued by Gyroscope.
• wstETH is a static wrapper of stETH. stETH is a yield bearing token that represents staked ether in Lido.

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Motivation

Gyroscope is launching further strategic pools.

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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 for wstETH’: 0xf7c5c26B574063e7b098ed74fAd6779e65E3F836 and relevant review.
• ‘rateProvider0’ for GYD: 0x3a216B01db971Bf28D171C9dA44Cc8C89867697F

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 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 .
• This is the first GYD/ wstETH pool.

Value

As per “Motivation”.

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Contracts

• E-CLP: 0x596a76a1AE4F7a6055F0C7D4e40737bFc19cFa2c
• Child gauge on Arbitrum: 0x44Ab430eFDFf0b6f467f2148a90DC9A8F0ab8D67
• Arbitrum root gauge on Ethereum: 0xC11442Cdbe8901b36aeB7bE7F3f95B6a8ade394e

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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): 0xC11442Cdbe8901b36aeB7bE7F3f95B6a8ade394e
• gaugeType(string): Arbitrum