Aura Delegate Thread

Name: Aura Delegate aka delegate.aurafinance.eth aka AC (Aura Council)

Snapshot profile: Snapshot

2 Likes

[BIP-59] Enable MAI/USDC Gauge on Ethereum

Vote: Yes

Rationale: QiDao is a team that keeps delivering to the Balancer ecosystem. Given the size and multi chain nature of MAI, AC would prefer this to be 2%, but voting yes.

[BIP-60] Enable XSGD:USDC “FXPool” Gauge [Polygon]

Vote: No

Rationale: AC believe this should be capped at 2%.

[BIP-61] Operating Procedures for DAO’s Selling Their Locked BAL Position OTC

Vote: Yes

Rationale: AC agree that selling/transferring locked positions affects core premise of VE systems

[BIP-62] Stable v2, composableStable, Weighted v2 Permission Granting

Vote: Yes

Rationale: Seems like a valid permission granting

[BIP-63] Enable IB/WETH 80/20 Gauge w/2% emissions cap [Optimism]

Vote: No

Rationale: Doesn’t seem like a valid use of resources given the nature of the pool and token.
An 8020 pool with a token with such low mcap and daily trading volume just doesn’t seem like a pool composition that should get balancer rewards in our opinion. 5050 pool with yield bearing wstETH or something would make more sense.

[BIP-64] Revised Gauge Migration to Composable Stable Pools

Vote: Yes

Rationale: Seems like a necessary migration path.

[BIP-65] Enable INV/DOLA 50/50 Gauge on Ethereum w/2% emissions cap

Vote: Yes

Rationale: Project shipping features, and has chosen to list at a 2% cap to follow in the nature of Gauge Framework. Support.

[BIP-66] Migrate Lightly Used Gauges to Capped

Vote: Yes

Rationale: Expanding the application of the Gauge Framework.

[BIP-67] Enable rETH/RPL Gauge [Ethereum]

Vote: Yes

Rationale: First application of new protocol fee etc, support!

[BIP-68] Enable wstETH/LDO Gauge [Ethereum]

Vote: Yes

Rationale: Same as BIP-67

3 Likes

[BIP-69] Whitelist Beethoven X Gnosis Safe for Balancer’s VotingEscrow

Vote: Yes

Rationale: This proposal is good for the long term health of the Balancer ecosystem and it is a positive to see the Beethoven-X community increase their involvement.

[BIP-70] Authorize the Batch Relayer v4

Vote: Yes

Rationale: Expanding the batch relayer functionality is a positive step

3 Likes

[BIP-71] Enable wstETH/weth Gauge [Arbitrum]

Vote: Yes

Rationale: This is a yield bearing pool and is good for the ecosystem.

[BIP-72] Enable wstETH/USDC Gauge [Arbitrum]

Vote: Yes

Rationale: As per BIP 71.

[BIP-73] Whitelist the gauge for the USDD/FRAX/USDC Pool to receive BAL emissions

Vote: No

Rationale: We do not think that the inclusion of the TRON backed stable coin would be good for the ecosystem at this time.

[BIP-74] Fund the Balancer Maxis for Q4 2022

Vote: Yes

Rationale: The Balancer maxis are the driving force behind Balancer and so their funding is an important part of the long term health of the protocol.

[BIP-75] Orb Marketing Budget Proposal for Q4

Vote: Yes

Rationale: This is a reasonable funding request and we have voted yes, but we would like to note that we are generally in favor of reducing the funding line to the Orb collective.

[BIP-76] Balancer Grants Budget Proposal Q4 2022

vote: Yes

Rationale: This uses existing funding to continue the work currently underway. No concerns at all in that valuable work continuing.

[BIP-77] Friendly Balancer Protocol Fees for Integrators

Vote: Yes

Rationale: This is a worthwhile proposal and should provide Balancer and potential partners the flexibility needed to develop long term partnerships. A positive step with communication now being the next key step here to ensure potential partners are aware of how they can best start building and integrating with Balancer.

5 Likes

[BIP-78] Delegate Aave Holding to Llama

Vote: Yes

Rationale: Llama has been a stalwart for governance in the Aave community and they are very familiar with the ecosystem. The delegation of voting power to Llama is a positive and practical approach.

[BIP-79] Enable COMP/wstETH Gauge [Ethereum]

Vote: Yes

Rationale: This pool provides an opportunity for large holders of the COMP token to spread their votes out to other pools, and this pool would significantly increase any yield earned over time. This appears to be a better solution as it provides better yield for Balancer.

[BIP-80] Enable bb-rf-asUSD/bb-rf-aUSD Gauge [Optimism]

Vote: Yes

Rationale: These pools have a lot of potential moving forward providing they get picked up easily by DEX aggregators and cowswap.

[BIP-81] Enable wstETH/bb-rf-aUSD/bb-rf-aWBTC 50/25/25 Gauge [Optimism]

Vote: Yes

Rationale: As per BIP 80. Again a great option with yield bearing pools and additional fee revenues for Balancer.

[BIP-82] Enable bb-rf-aWETH/wstETH Gauge [Optimism]

Vote: Yes

Rationale: as above

2 Likes

[BIP-83] Enable DOLA/bb-a-USD Gauge [Ethereum]

Vote: Yes

Rationale: This 50/50 DOLA/bb-a-USD pool will be good for the ongoing growth of the Balancer ecosystem. Inverse Finance’s debt-backed USD stablecoin, DOLA, is not “algorithmic” and the INV governance token is not used to mint or redeem DOLA. Inverse finance have also indicated a strong desire to become more involved in the ecosystem through incentives as they seek to further deepen their liquidity.

2 Likes

[BIP-84] Revoke Hexagon’s Friendly Fork Status

Vote: Yes

Rationale: Friendly fork status implies quality development and progress in another protocol. To date this has not been achieved and so revoking this status makes sense.

[BIP-85] Redeem TRIBE

Vote: Yes

Rationale: Good to see this is coming to a conclusion.

[BIP-86] Enable bb-rf-aUSDC/bb-rf-aUSDT/bb-rf-aDAI Gauge [Optimism]

Vote: Yes

Rationale: These new gauges appear to be very good for the ecosystem.

[BIP-87] Enable rETH/bb-rf-aUSD/rf-grain-OP 50/25/25 Gauge [Optimism]

Vote Yes

Rationale: As above

[BIP-88] Enable rETH/BEETS/bb-rf-aUSD/bb-rf-grBAL Gauge w/2% emissions cap [Optimism]

Vote: Yes

Rationale: With a smaller token included in this gauge it is good to see that the 2% cap is being included in the proposal from the start. This will help to manage expectations for a healthy ecosystem.

[BIP-89] Enable wstETH/bb-a-usd Gauge [Ethereum]

Vote: Yes

Rationale: As per above.

[BIP-90] Enable rETH/bb-a-usd Gauge [Ethereum]

Vote: Yes

Rationale: Another strong gauge being added to the Balancer ecosystem. As above.

2 Likes

[BIP-91] Temporarily Adjust Optimism Fee Split

Vote : Abstain

Rationale : We don’t see how this would be a net positive for Aura noting we are on ETH only. Should the future indicate a benefit to the Aura ecosystem then we may change our vote.

[BIP-92] Deploy Liquidity Bootstrapping Pools to BNB Chain

Vote : Yes

Rationale : This appears to be a limited commitment to something that will provide benefit to a number of other protocols and provide fees for Balancer.

[BIP-93] Enable BADGER/rETH 50/50 Gauge [Ethereum] w/10% emissions cap

Vote : Yes

Rationale : The badger/rETH 50/50 with 10% cap is a good example of playing by the rules: yield bearing asset, 50/50 split, voluntary 10% cap. Note that we would vote against Aura supporting any more than 2 different cap weights (i.e. 2% and 10%) as it will get too confusing. Given that veBAL is already capped at 10, it is a reasonable precedent for a second tier.

[BIP-94] Enable wstETH/LDO Gauge [Arbitrum]

Vote : Yes

Rationale : This is a good step to widen the ecosystem for valuable pools especially noting the commitments from Lido thus far to Balancer.

[BIP-95] Enable wstETH/LDO Gauge [Optimism]

Vote : Yes

Rationale : As above.

3 Likes

[BIP-96] Enable palStkAAVE/AAVE 80/20 Gauge w/ 2% emissions cap [Ethereum]

Vote: Yes, Let’s do it.

Rationale: Aura has had some excellent and open dialogue with Paladin and we support what they are seeking to build here.

[BIP-97] Enable IB/rETH 50/50 Gauge w/2% emissions cap[Optimism]

Vote: Yes, Let’s do it.

Rationale: As the OP ecosystem continues to grow this pool looks to be beneficial for both Iron Bank and for Balancer.

[BIP-98] Fjord (Formerly Copper) and Balancer Exclusive Partnership

Vote: Abstain

Rationale: Aura Finance does not have a strong opinion on this proposal but does not wish to oppose it.

[BIP-99] Pay DAO Multisig Stipends for H2 ‘22

Vote: Yes, Let’s do it

Rationale: They have been doing an admirable job and are well deserving of their stipends

[BIP-100] Allocate BAL Liquidity to Silo Finance

Vote: Abstain

Rationale: The Aura delegate council has chosen not to vote on this proposal.

[BIP-101] Enable tetuQi/QI Stable Pool Gauge with 2% emissions cap (Polygon)

Vote: Abstain

Rationale: It is worth pausing here to explain the Abstain position Aura has taken on a few proposals. The Aura delegate council has put a considerable amount of time in to discussing the merits of a number of proposals that are not on Ethereum. With Aura being solely deployed on ETH currently it is difficult to see how any of the gauges on other chains will bring value to what Aura is building on Ethereum. To that end, rather than voting no across a series of proposals, Aura will generally choose to abstain from voting on matters that it does not wholeheartedly support but does not wish to actively oppose. This is not a rigid response to all votes on other gauges and the Aura delegate council will continue to consider every proposal on its individual merits. This same logic can be applied to some other Balancer proposals where Aura Finance does not have a core interest.

[BIP-102] Enable the THX/stMATIC Gauge on Polygon with 2% cap

Vote: Abstain

Rationale: as per BIP 101

[BIP-103] Karpatkey Balancer Treasury CU Proposal Update

Vote: Yes, lets do it

Rationale: Putting the Balancer treasury to work does have some risk but this plan appears to do an admirable job of mitigating the risk and promoting the long term health of the Balancer ecosystem.

3 Likes

[BIP-103] Karpatkey Balancer Treasury CU Proposal Update

Vote: YES

Rationale: Aura was supportive of the first iteration of this proposal and continues to be so now with the amendments included.

[BIP-104] Enable the STG/bb-rf-aUSDC Gauge [Optimism]

Vote: YES

Rationale: As a boosted pair this will promote ecosystem health and Stargate is a promising partner.

[BIP-105] Enable STG/bb-a-USD Gauge [Ethereum]

Vote: YES

Rationale: As per BIP 104.

[BIP-106] Enable sfrxETH/wstETH/rETH Gauge [Ethereum]

Vote: YES.

Rationale: This is an excellent pool for people interested in exposure to Ethereum and Ethereum staking and will provide excellent opportunities for growth for the Balancer ecosystem.

[BIP-107] Retire TEMPLE/DAI & Enable TEMPLE/bb-a-USD 50/50 Gauge w/10% emissions cap [Ethereum]

Vote: YES.

Rationale: The Aura delegates are happy with this outcome. The discussions adhered to our initial thoughts regarding gauge caps as per BIP 93 and the 10% cap for this gauge appears very reasonable. Aura looks forward to more constructive discussions in the future from other voting blocs on how best to promote the health of the ecosystem.

2 Likes

[BIP-108] Enable SD/MaticX 80/20 Gauge with 2% emissions cap (Polygon)

Vote: Yes

Rationale: No concerns and glad to see tis will be the primary liquidity source for Stader on Polygon.

[BIP-109] Whitelist Aragon Gnosis Safe for Balancer’s VotingEscrow

Vote: Yes

Rationale: Great to see Aragon getting involved.

[BIP-110] Enable T/WETH 80/20 Gauge w/2% emissions cap [Ethereum]

Vote: Yes

Rationale: No concerns.

[BIP-111] Index Coop x Balancer DAO Partnership

Vote: Abstain

Rationale: The Aura delegate council debated this proposal and determined that the best course of action was to abstain. Whilst there are potential benefits to Balancer the benefits seem rather small and generally token swaps can be problematic. With that said, the delegate council did not feel strongly enough regarding this proposal to take a firm stance and so has chosen to abstain.

1 Like

Hi Aura delegate council! The Index Coop team appreciates the consideration. Regardless of the outcome, we are excited for future collaboration as we look to incorporate current Aura Boosted BPTs into our upcoming strategies.

5 Likes

[BIP-112] Adjust Balancer Snapshot for Aura AIP-17

Vote: Yes

Rationale: As a result of AIP 17 this vote is largely procedural for us and we are eager to get things moving.

3 Likes

[BIP-140] Introduce TimelockAuthorizer

Vote: YES

Rationale: This proposal is security focused and we support anything security related that improves the health of Balancer and the ecosystem.

[BIP-141] Introduce VeBoost V2

Vote: YES

Rationale: This upgrade will allow for greater functionality and development for other protocols built on top of Balancer. This will be important for our friends at Paladin in the near term.

[BIP-142] Permission Granting - Recovery Mode - ComposableStable-V2

Vote: YES

Rationale: This proposal is security focused and we support anything security related that improves the health of Balancer and the ecosystem.

3 Likes

[BIP-143] Save. Earn. Borrow w/BalancerP2P (includes: licensing fees, increased LP activity, new product, more engagement)

Vote: No

Rationale: Aura Finance has already engaged in extensive discussion regarding this proposal in our own forum where the same proposal has been made.

[BIP-144] Fund Balancer Grants Q1 2023

Vote: Yes

Rationale: The Balancer grants program continues to operate prudently and efficiently and we have been impressed with the work carried out recently from the contributors there.

[BIP-145] Fund the Balancer Maxis for Q1 2023

Vote: Yes

Rationale: This is normal business and we support the funding of the Maxi’s and await the decentralization and dissolution of the governance council proposals.

[BIP-146] Incentivize 8020 BPT Staking (ve8020)

Vote: Yes

Rationale: This is an excellent proposal and is part of the unique value proposition that Balancer DAO provides.

5 Likes

[BIP-147] Enable RBN / USDC 50/50 Gauge [Ethereum]

Vote: Yes

Rationale: The addition of Ribbon Finance liquidity pools to Balancer is a big achievement and Aura is supportive of this pool.

[BIP-148] Enable DOLA/USDC Stableswap Gauge on Ethereum

Vote: Yes

Rationale: This was a straight forward vote to replace a vulnerable gauge.

[BIP-149] Funding Proposal for Silverlight Labs - REVISED

Vote: No

Rationale: The Aura delegate council did not see this as a wise allocation of resources. Noting discussions regarding runway and Balancer treasury, this did not appear to offer value for money.

[BIP-150] Enable wUSDR-USDC Gauge 2% Cap [Polygon]

Vote: Abstain- did not vote

Rationale: The Aura delegate council was split on this vote but decided to abstain. Although the pool looked interesting it was not something that was deemed to be in the best long term interests of Aura Finance. Community voter interest in this proposal was also very low and was not material to the outcome.

[BIP-151] Kill Vulnerable CSP Pool Gauges

Vote: Yes

Rationale: This was a security focused proposal and the delegate council was in full support. .

[BIP-152] Update Core Pool List

Vote: Yes

Rationale: This proposal is a logical flow on from previous proposals regarding security and was supported by the council.

[BIP-153] Whitelist Risk Labs’ Gnosis Safe for veBAL

Vote: Yes

Rationale: The Aura delegate council considers all efforts to accumulate veBAL and participate in the ecosystem to be a positive step for Balancer and for Aura.

[BIP-154] Enable PAR-jEUR Stable Pool Gauge with a 2% cap (Polygon)

Vote: Yes

Rationale: With a 2 % cap these are very interesting pools. The Delegate council passed this vote with a slim majority as it is on Polygon and does not directly impact Aura Finance and the benefits are unclear at this stage. The 2% cap however, is very appropriate and the council decided to vote in favor with an eye on fee generation and volume moving forward.

[BIP-155] Enable agEUR-jEUR Stable Pool Gauge with a 2% cap (Polygon)

Vote: Yes

Rationale: As above.

[BIP-156] Authorize Migration to GaugeAdder v3

Vote: Yes

Rationale: This was a logical vote in support of the ecosystem, supported by the council.

[BIP-157] Migrate cbETH/wstETH Gauge [Ethereum]

Vote: Yes

Rationale: This proposal will provide for better fee collection and pool management for Balancer and thus support the ecosystem.

[BIP-158] Migrate wstETH/WETH Gauge [Arbitrum]

Vote: Yes

Rationale: as above.

3 Likes

[BIP-159] Activate BAL Emissions for Mainnet EURS:USDC “FX Pool” w/2% emissions cap

Vote: Yes

Rationale: Happy to support Xave Finance with this proposal and a 2% cap.

[BIP-160] Enable SD/USDC (50/50) and SD/WETH (80/20) Gauges with 2% emissions cap (Ethereum)

Vote: Yes

Rationale: Although the Aura Delegate Council is happy to support this proposal, the council does not think that bundling proposals sets a good precedent for future gauge proposals and approvals.

[BIP-161] Close Year 2 Funding Gap

Vote: Proposal B

Rationale: The Aura Delegate Council debated these proposals in significant detail. Of note, The Aura Delegate Council generally believes that:

The sale of Balancer tokens, whilst undesirable, is currently well supported by the market and is prudent to avoid overspend. There is no guarantee of future market performance and potentially worse conditions in the future may place the DAO in more direct financial hardship (current pump not withstanding)

Whereas Option A appeared to be the softer approach, Option B presented a more direct path to decreasing fee allocation to veBAL holders and creating a more assured runway through the sale of Balancer tokens. The long term health of the DAO appeared to be better supported by Option B and Aura Finance looks forward to ongoing updates regarding the state of the treasury and the DAO moving forward.

5 Likes

[BIP-162] Karpatkey Investment Strategy

Vote: Yes

Rationale: The Karpatkey investment strategy is very much in line with the intent as outlined in BIP 103. Bridging assets back to mainnet and allowing for resources to be placed in the new SAFE position is essential in order to allow BIP 103 to be executed effectively.

[BIP-163] Restructure Governance Process - Disband Governance Council

Vote: Yes

Rationale: This proposal generated a lot of discussion on how Balancer proposals might be managed and how best to enable this system without the oversight of the governance council. With that said, this step will take Balancer forward towards a more decentralized model and Aura Finance supports this move.

[BIP-164] Deposit BAL into Aave Polygon v3

Vote: yes

Rationale: Depositing additional BAL into the new Aave v3 pools will generate income for the DAO without diluting voting power. The Aura delegate council supports this move and the desire to generate yield on idle assets.

[BIP-165] Enable ankrETH/ETH Gauge on Ethereum

Vote: yes

Rationale: Aura is very supportive of protocols wishing to deposit their LSD related offerings into the Balancer ecosystem.

3 Likes