zen-maxi.eth

[BIP-700] Enable a wstETH/GYD gauge [Ethereum]

Voting ended over 1 year agoSucceeded

PR With Payload https://github.com/BalancerMaxis/multisig-ops/pull/1359

Summary

This is a proposal to enable one uncapped Balancer gauge on Ethereum for a wstETH/GYD E-CLP.

References/Useful links

Links

Documentation of E-CLPs

Website

Github

Discord

X

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.

Motivation

Gyroscope is launching further strategic pools.

Specification

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’: wstETH rate provider on Ethereum: 0x72D07D7DcA67b8A406aD1Ec34ce969c90bFEE768 and relevant review .

‘rateProvider1’: GYD rate provider on Ethereum: 0xD43F5a722e8e7355D790adda4642f392Dfb820a1.

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: This is the first wstETH/GYD E-CLP on Ethereum.

Value: This pool is intended to be the primary source of liquidity for the token(s).

Contracts

E-CLP: 0xC8cF54b0b70899Ea846B70361e62F3F5B22b1f4B

Gauge: 0xCda69C40176B98bB1773109d1fEa91e12F478451

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): 0xCda69C40176B98bB1773109d1fEa91e12F478451 gaugeType(string): Ethereum