[BIP-752] Enable E-CLP gauge for weETH/wstETH [Base]

Summary

This is a proposal to enable one uncapped Balancer gauge on Base for a weETH/wstETH E-CLP. The pool will have a swap fee of 5bps, of which 5% are forwarded to Balancer as protocol fees.

References/Useful links

Links

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

Protocol Description

• weETH is an ETH LST, issued by EtherFi.
• wstETH is an ETH LST, issued by Lido.

Motivation

This weETH/wstETH pool on Base is intended to complement a similar pool on Arbitrum.

Specification

1. 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.

2. Oracles:

• ‘rateProvider0’ for weETH: 0x5a7A419C59eAAdec8Dc00bc93ac95612e6e154Cf

• ‘rateProvider1’ for wstETH: 0x3b3dd5f913443bb5E70389F29c83F7DCA460CAe1

• both rate providers are Chainlink feeds and whitelisted.

3. 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.
4. 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.
5. 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.
6. Value: This pool is intended to better match the historic prices and low volatility of the included tokens.

Contracts

• E-CLP: 0x49470d9e531c52E4370F4cdC7afE5acCbbD9222D
• Root Gauge on Ethereum: 0x17c67CA47d472d16FBc09f0A0408edeE22180cEe
• Child Gauge on Base: 0x7d08152dE696a5D44Ef032f9626e158048a408B1

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): 0x17c67CA47d472d16FBc09f0A0408edeE22180cEe gaugeType(string): Base