[BIP-815] Enable Gauge for inwstETHs/wstETH [Ethereum]

PR with payload: https://github.com/BalancerMaxis/multisig-ops/pull/1934

Summary:

This is a proposal on behalf of InceptionLRT to enable a gauge for inwstETHs/wstETH on Ethereum. inwstETHs represents wstETH restaked on Symbiotic, through whitelisted Mellow and Symbiotic curated vaults. InceptionLRT will delegate wstETH to curators based on governance voting decision.

References/Useful links:

Link to: • Website • Documentation • Github Page • Communities • X (Twitter)

Protocol Description:

InceptionLRT is the infrastructure layer decentralizing restaking by positioning curators as the cornerstone of the ecosystem. By addressing the complexity and fragmentation of restaking in a transparent and DAO-governed way, InceptionLRT has pioneered and advanced the concept of Multi-Curator LRTs!

Motivation:

InceptionLRT aims to enable a gauge for inwstETHs/wstETH to substantially increase the liquidity of inwstETHs, while supporting its utility and viability for integration into a range of DeFi protocols, namely Morpho, Aave Lido market, Fluid, Compound and Gearbox.

Specifications:

1. Governance: ING holders participate in decision-making, influencing the protocol’s direction and policies, including the Node Operators, AVSs and restaking strategies. Incentive Allocation: Through gauge weight voting, veING holders direct incentives and rewards towards preferred liquidity, impacting the protocol’s dynamics. Rewards and Participation: Providing ING to liquidity pools like the 80-20 Balancer Liquidity Pools and locking the LP token earns veING, granting access to various protocol.

2. Oracles: Rate Provider for inwstETHs.

3. Audits: InceptionLRT undergoes security audits and checks to ensure the safety of user funds. Latest: Audit Reports | InceptionLRT Docs.

4. Centralization vectors: inwstETHs architecture involves delegations to Mellow and Symbiotic contracts.

5. Market History: No major volatility - CoinGecko.

6. Value: The pool is intended to be the primary source of liquidity for inwstETHs on Ethereum and allow for a healthy stimulation of volume. Gauge: Vyper_contract | Address 0x6D0216CF4B6741B23B4beeda42b7100EB8A7CA0C | Etherscan

Technical 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):0x3b163Ca3875e91c580bDeC0CE9c97d4eF6501f20 gaugeType(string): Ethereum

Edit Maxis:

• tech spec
• gauge id
• PR with payload