zen-maxi.eth

[BIP-716] Enable USDC/GYD Gauge [Ethereum]

Voting ended over 1 year agoSucceeded

PR With Payload https://github.com/BalancerMaxis/multisig-ops/pull/1421

Summary

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

References/Useful links

Links

Documentation of E-CLPs

Website

Github

Discord

X

Protocol Description

GYD is a USD denominated meta-stablecoin, issued by Gyroscope.

USDC is a USD denominated stablecoin, issued by Circle.

Motivation

This USDC/GYD pool has a tighter price range (1 +/- 4 bps) than the previously deployed USDC/GYD pool which has currently 1.3m USD in TVL. This pool is intended to better match the historic prices and low volatility of the included tokens.

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’: 0x00

‘rateProvider1’: 0x00

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 USDC/GYD pool has a tighter range than the previously deployed USDC/GYD pool who has currently 1.3m USD in TVL.

Value: This pool is intended to better match the historic prices and low volatility of the included tokens.

Contracts

E-CLP: 0x2875f3effe9ec897d7e4c32680d77ca3e628f33a

Gauge: 0x9c1a157cf8b242f67b3c950eda9a30b320bde9cd

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): 0x9c1a157cf8b242f67b3c950eda9a30b320bde9cd gaugeType(string): Ethereum