[SIP-31] - Remove Balancer Emissions

Overview:

Back in March, the Synapse DAO voted to transition from direct SYN emissions on SushiSwap to utilize Balancer gauges (through Aura) to enhance the capital efficiency of on-chain liquidity for the SYN/ETH pair. Currently, the balancer SYN/ETH pool costs the DAO 5,000 SYN/day for on average ~$100,000 of pool volume per day.

Conversely, the SushiSwap pool (entirely funded by swap fees) averages $350k in volume per day. Similarly, the Uniswap V3 pool produces similar volume results to the Aura pool, with no incentives on the pool, suggesting high volume trading locations generate more swap fees, and require less emissions to encourage LPing.

Recent analysis conducted on on the SYN/ETH Balancer gauge thus concludes that it unnecessarily inflates the SYN token supply and fractures liquidity across venues that naturally have more trading volume.

Implementation:

In line with other efforts to improve SYN token economics, we suggest eliminating all liquidity incentives currently going towards Balancer (through Aura). This will reduce our annual inflation by 25%.

For Reference:

Most of the data used is from the last 90 days of on-chain SYN trading on: Uniswap, SushiSwap, and Balancer.

Current Emissions can be found here: [https://synapseemissionsdashboard-3d76b3202ae7.herokuapp.com/]

SIP-30 reduces emissions by 50k SYN/Month: [https://snapshot.org/#/synapseprotocol.eth/proposal/0x963e2a3567dcef3e7842cd33d3ee213052e535bb2fb1fdc3d6a0e5cdc094d5e4]

Data: [https://app.apy.vision/pools/balancerv2_eth-SYN-WETH-0xa3c500969accb3d8df08cba313c120818fe0ed9d] [https://app.aura.finance/#/1/pool/62] [https://www.geckoterminal.com/eth/pools/0x2dd35b4da6534230ff53048f7477f17f7f4e7a70] [https://www.gauntlet.xyz/resources/uniswap-incentive-design-analys