[BIP-729] Enable WBTC/pumpBTC Gauge [Ethereum]

PR with Payload

https://github.com/BalancerMaxis/multisig-ops/pull/1480

SUMMARY

This is a proposal to enable a veBAL gauge for the WBTC/pumpBTC pool on Ethereum.

References/Useful links

Link to:

• Website

• Documentation

• Github Page

• X

Protocol Description

PumpBTC serves as a Liquid Staking Solution for Babylon. Its mission is to bring DeFi into the Bitcoin ecosystem, driven by an ecosystem-centric approach and supported by seasoned DeFi experts and industry-leading partners.

By abstracting complexities, PumpBTC facilitates effortless collaboration between users and Babylon. Users can stake into Babylon with a single action through PumpBTC, immediately receiving liquidity tokens without waiting periods.

Inspired by the "pump" meme culture in the Bitcoin community, PumpBTC aims to help BTC holders maximize yields through Babylon's liquid staking - essentially rebuilding WBTC/BTCB with native yield.

The historical price of pumpBTC can be found here:

https://www.coingecko.com/en/coins/pumpbtc

https://coinmarketcap.com/currencies/pumpbtc/

Motivation

PumpBTC is launching further strategic pools.

Specifications

Governance

The governance token has not been released yet.

Oracles

RedStone: 0x85C4F855Bc0609D2584405819EdAEa3aDAbfE97D

Audits

• BlockSec Security Audit Report for PumpBTC
• Quantstamp Security Audit Report for PumpBTC

Centralization vectors

No centralization vectors.

Value

The balancer pool is one of the few LRT pools on Ethereum and is aimed at providing liquidity to the growing community. Additionally, pumpBTC will always be pegged 1:1 with WBTC, and users can instantly withdraw at any time.

Market History

Market history and protocol information can be found here on the PumpBTC Dune dashboard - https://dune.com/pumpbtcintern/pumpbtc-summary

Value

The WBTC-pumpBTC pool on Balancer is intended to serve as one of the primary liquidity sources for the token on Ethereum. The pairing of WBTC with pumpBTC will maintain the originally intended smooth trading experience, while yielding more rewards for the liquidity providers.

Contracts

pumpBTC on Ethereum: 0xf469fbd2abcd6b9de8e169d128226c0fc90a012e

WBTC/pumpBTC Base pool on Balancer: https://balancer.fi/pools/ethereum/v2/0x2238ab6c8c58473a5e81b86ec352322fb3f5edd80000000000000000000006de

Specification

• Mainnet Gauge: https://etherscan.io/address/0xDFaD195F91e1591ae8Eb4c1c7183185CeF58864D

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): 0xDFaD195F91e1591ae8Eb4c1c7183185CeF58864D

gaugeType(string): Ethereum