[BIP-44] Switch Revenue Sharing Gauges to New 80/20 Pools

Summary:

This proposal aims to transition the revenue-sharing gauges to new 80/20 pools: BAO/baoETH-ETH and BAO/baoUSD-LUSD.

Background & Goals:

The current revenue sharing gauges are 50/50 pools, meaning that 50% of the value deposited is BAO tokens, and the remainder is either the USD base pool or the ETH base pool. This is ideal for reducing price fluctuations, but liquidity providers suffer more from impermanent loss.

With the recent move to stop inflation, there is less of a requirement for 50/50 pools. 80/20 pools will allow buybacks to have more impact, reduce impermanent loss for liquidity providers, and increase demand for the BAO token.

Proposal Solution:

• Create new 80/20 pools
• Create new gauges for the 80/20 pools
• Kill gauges for the 50/50 BAO liquidity pools

Risks

Switching revenue-sharing gauges will require liquidity providers to withdraw from our gauges, withdraw from the balancer pool, deposit into the new balancer pool, and then deposit into the new revenue-sharing gauges if they wish to continue receiving rewards.

We recognize this is a significant inconvenience and creates the risk that liquidity providers will take the opportunity to seek other yield sources instead of re-depositing.

To mitigate this risk, we have spoken individually to liquidity providers, who represent around 80%+ of the total BAO token liquidity, and they support the move.