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TimelessTimelessby0x9E8784794cd73B52886cBB1A3538A4594A6c9e8d0x9E87…9e8d

[TRC - 059] - Adding a more concentrated wETH/swETH gauge

Voting ended over 2 years agoSucceeded

Summary:

Swell is looking to create a more narrow gauge for our wETH/swETH pool. We will be using this to push more swap volume and hence raise the swap apr of our pool. Making this as a win for Bunni and Swell. The new range we will be targeting is 0.9656 <> 0.9851(wETH -> swETH) or 1.01512536798 <>1.03562551781(swETH->wETH) Swell's wider wETH/swETH pool has seen massive TVL growth, sitting at 3.7 million at the time of writing this. We would like to expand our TVL and its efficiency even more with the introduction of this new gauge. A portion of Swell's bribe allocation would go this gauge to bootstrap votes and TVL, bringing revenue to veLIT voters

Considerations: Swell has chosen an uncapped gauge here as well as we might see a situation in where all our TVL moves over from the wider pool to this more concentrated pool Our current pool is heavily swETH sided. This new pool would enable users to deposit in a roughly 50/50 ratio, more inline with the usual LP experience

Off-Chain Vote

for
1.61M veLIT100%
against
0 veLIT0%
Quorum:130%
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Discussion

Timeless[TRC - 059] - Adding a more concentrated wETH/swETH gauge

Timeline

Jun 21, 2023Proposal created
Jun 21, 2023Proposal vote started
Jun 24, 2023Proposal vote ended
Oct 26, 2023Proposal updated