[HIP-37] Add Beets Gauge and Remove Unused Gauges

Proposal ID: S1.11

Introduction

This proposal aims to enhance the utility and efficiency of the gauge system by introducing a Beets / wS gauge on Arbitrum while removing underperforming Mainnet meme gauges. To maintain system focus and prevent unnecessary gauge dilution, the following Mainnet meme gauges will be removed:

• APU/WETH

• KEKEC/WETH

• SPC/WETH

• BITCOIN/WETH

• PEPE/WETH

• SHIB/WETH

• ZOOMER/WETH

• JOE/WETH

• MOG/WETH

These will be replaced with:

• Beets / wS - 1% (min width: 1800)

Strategic Alignment

1. Strengthening Strategic Partnerships: Adding a Beets / wS gauge aligns with fostering collaboration with Beethoven X.

2. Streamlining System Focus: The removed meme gauges on Mainnet have shown minimal adoption, liquidity, or strategic value. Pruning these optimizes gauge efficacy, reduces fragmentation, and reallocates incentives to high-potential pools.

Gauge Performance Analysis

• Meme Gauges: The proposed Mainnet meme gauges (APU, KEKEC, SPC, etc.) have consistently underperformed, with negligible TVL, low trading volume, and minimal community engagement. Their removal frees resources without impacting ecosystem health.

• Beets / wS: Beethoven X’s established presence on Arbitrum and existing user base position this gauge for rapid adoption. Beets’ collaboration will amplify visibility, driving liquidity and participation.

Market Impact Analysis

• Positive Growth: Introducing Beets / wS taps into Beethoven X’s community, attracting new users and capital to the ecosystem. This fosters cross-protocol synergy and fee generation.

• Ecosystem Cleanup: Removing inactive meme pools sharpens focus on high-value gauges, improving user experience and protocol efficiency.

• Risk Mitigation: The proposal avoids over-saturation, ensuring incentives remain concentrated where they deliver maximum impact.

Next Steps

1. Approve Gauge addition.

2. Launch promotional campaigns with Beets to bootstrap liquidity and engagement.

Calldata

Gauge Addition Calldata: 0x5d6b2a9d00000000000000000000000046bb2930ffdc1abe780078ff7957dd813f58bc42000000000000000000000000000000000000000000000000000000000000004000000000000000000000000000000000000000000000000000000000000000200000000000000000000000000000000000000000000000000000000000000708

Gauge Removal Calldata:

0x3a04514500000000000000000000000011baa8622d4ba56cc0716efbf2421cf488bbc9b2

0x3a0451450000000000000000000000003451c0d4507655b1636712d54e46f814812d20c2

0x3a045145000000000000000000000000351a32b84e5869d98e2a429d03923508564dc0e0

0x3a045145000000000000000000000000853789b370c32c7200592b108566c4f705cbdf10

0x3a0451450000000000000000000000008b9147b6657072b6230a3b3d6f03ea2d89e92cfd

0x3a0451450000000000000000000000009bf9b52138846150a9786851e18441cdd98a1ce8

0x3a045145000000000000000000000000b60759615e102986118a2aa7d2645e13e2eb9627

0x3a045145000000000000000000000000e54ff34852bab1f9b09969ff1f8b62317f35f4bf

0x3a045145000000000000000000000000e99838f83bc054811d4aedb1d699aada70b77d3a