[BIP-317] Enable baoETH/ETH gauge w/2% emissions cap
Vote: Yes.
Rationale: This is bao’s protocol base pool for their synthetic ETH, driving liquidity and fees to Balancer. It is a good practice to onboard pools like this in Balancer, as it creates stronger ties with these protocols.
[BIP-318] Grant Avalanche Permissions
Vote: Yes.
Rationale: This set up all permissions to deploy Balancer in Avalanche.
[BIP-319] Distribute proceeds from bb-e-usd permissioned arbitrage
Vote: Yes.
Rationale: This was the last step of the recovery process created on the BIP-299. It distributed the proceeds to the LPs from the affected pool.
[BIP-320] Enable PAL/OHM 80/20 Gauge [Arbitrum]
Vote: Yes.
Rationale: This established a gauge for the primary PAL liquidity on Arbitrum. As an 80/20 gauge, it was capped at 2%.
[BIP-321] Enable OHM/LUSD Gauge on Ethereum
Vote: Yes.
Rationale: The OHM pools (OHM/WETH, OHM/DAI) are amongst the higher volume pools in Balancer. Introducing a new pool with this uncapped gauge, paired with the LUSD stablecoin, will likely have the same results.
[BIP-322] Allocate Balancer’s 3M ARB
Vote: Yes.
Rationale: The proposal directs 2M ARB to the proposed AURA/BAL/ARB pool on Arbitrum. It aligns with AIP-25 and sets the stage for Aura’s deployment in that chain.
[BIP-323] Authorize Mimic Smart Vaults on Optimism & Polygon
Vote: Yes
Rationale: Automation to collect protocol fees, sell for USDC, and then bridge back to Ethereum if necessary.
[BIP-324] Enable Layer Zero Cross Chain Boosts on zkEVM and Avalanche
Vote: Yes
Rationale: Setup for having Layer Zero cross-chain boosts for zkEVM and Avalanche.
[BIP-325] Replace Solarcurve with Tritium on DAO Multisig
Vote: Yes
Rationale: Tritium has the diligence and tech knowledge to perform all the tasks required.
[BIP-326] Cleanup Unused Gauges
Vote: Yes
Rationale: Housekeeping to remove old and unused or not-often-used gauges. The impacted protocols may reapply for gauge approval.
[BIP-327] Enable rETH / bb-a-wETH Gauge [Ethereum]
Vote: Yes
Rationale: Uncapped core pool gauge request for large market yield-bearing tokens in a composable stable pool consisting of rETH and Balancer boosted ETH with Aave v3.
[BIP-328] Enable Initial zkEVM Gauges [zkEVM]
Vote: Yes
Rationale: Setup for enabling gauges on zkEVM. The pools in this proposal contain large market yield bearing LST assets to set up Balancer and Aura for zkEVM, and will be added as core pools to the core pool cycle.
[BIP-329] Enable ACID/WETH Gauge [Arbitrum]
Vote: Abstain
Rationale: The protocol was unresponsive in our interactions.
[BIP-330] Enable OHM/bb-a-DAI Gauge [Ethereum]
Vote: Yes
Rationale: This proposal created an uncapped gauge alternative to the OHM/DAI pool, and includes the yield-bearing AAVE equivalent for DAI. It will generate more returns for LPs and more fees for the protocol.
[BIP-331] Enable DOLA StablePool Gauges [Arbitrum]
Vote: Yes
Rationale: Two uncapped Dola stable pool requests for Arbitrum. It Aligns with Arbitrum expansion and Inverse Finance already has two other pools in Ethereum Mainnet (~8,7m TVL). It seeks to deepen DOLA liquidity and reduce dependence on the Curve Ecosystem. It will provide voting incentives for these pools.
[BIP-332] Reallocate wstETH/wETH Protocol Fees
NOTE: Due a script issue, the Aura Delegates’ votes on BIP-332 was not submitted. It was revoted during the June 22nd round as BIP-342.
[BIP-333] - Deploy Balancer on Linea
Vote: Abstain
Rationale: We’re unfamiliar with this blockchain, so we chose “Abstain”.
[BIP-334] Fee Discount for 1inch Labs Solver
Vote: Yes
Rationale: It is the same setup created for CoW Swap, to give 1inch a discount on fees to boost swap flow. It is a good practice to foster competition to get better results.
[BIP-335] Enable wstETH/ma3wETH Gauge and Designate it a Core Pool
Vote: Yes
Rationale: This seeks uncapped gauge and core pool approval for the wstETH/ma3WETH composable stable pool. ma3WETH is a product of the Morpho Labs lending protocol built on Aave that provides Aave APY and peer-to-peer lending and borrowing matching to improve APY on both sides. Morpho Labs has TVL of around $752mm and many audits. It predicts ma3WETH can provide an additional 1.8% of boosted APY annually. Lido intends to provide budgeted liquidity incentives to the poo for the first month for bootstrapping.
[BIP-336] - Enable uniETH/wETH Gauge [Ethereum] w/ 2% emissions cap
Vote: Yes.
Rationale: This proposal from Bedrock sought a gauge capped at 2% emissions for the uniETH-wETH composable stable pool. Bedrock’s native tokenized version of staked Ether is uniETH and has more than 2176 ETH (> USD3.7mil) staked. This pool will provide boosted yield for the Balancer protocol and LPs and provide Bedrock with a primary source of liquidity for uniETH/wETH swaps.
[BIP-337] Enable OHM / bb-a-wETH Gauge [Ethereum]
Vote: Yes.
Rationale: This sought an uncapped core composable stable pool for 50/50 OHM / bb-a-wETH as the boosted yield from bb-awETH for the Balancer protocol and LPers. The core pool status will provide flywheel incentives for the pool.
[BIP-338] Enable 55/45 auraBAL/wstETH Gauge [Arbitrum]
Vote: Yes.
Rationale: This seeks a 2% capped gauge of 55/45 auraBAL/wstETH to provide auraBAL liquidity on Arbitrum. Aura submitted AIP-33 to incentivize this pool for the next 10 gauge rounds. wstETH/wETH already has substantial liquidity on Arbitrum, while this gauge will provide auraBAL with liquidity for its Arbitrum expansion. The pairing with wstETH will increase incentives for Arbitrum core pools.
[BIP-339] Enable Stafi rETH/WETH Gauge 10% Cap [Arbitrum]
Vote: Yes.
Rationale: This proposal seeks to expand rETH/wETH liquidity on Arbitrum by creating a core pool with emissions capped at 10%. StaFi has an existing rETH/wETH pool on Mainnet with a TVL of nearly $5mm. StaFi intends to make this new pool its primary source of rETH liquidity on Arbitrum. The pool will benefit Balancer’s and Aura’s expansion on Arbitrum while providing boosted yield and core pool incentives.
[BIP-340] Migrate vETH StablePool Gauge [Ethereum]
Vote: Yes.
Rationale: This proposal will add a gauge for a vETH/wETH pool on Ethereum, with a 10% emissions cap. The initial gauge was approved BIP-269, but Bifrost is seeking to migrate it due to a change in the rate provider contract for vETH2. The Orb integrations team reviewed the oracle’s rate provider code and confirmed a proper setup will return the correct exchange rate o. At least two limited risks are associated with the rate provider that Orb integrations determined are highly unlikely.
[BIP-341] Set Escrow Re-mapper Manager for Tetu
Vote: Abstain.
Rationale: This proposal seeks to enable Tetu’s cross-chain Balancer boost. The Aura Delegate Council would prefer to see Tetu bring additional value to the Balancer ecosystem, but acknowledges that Tetu is a competitor to Aura Finance and opposing this request may not be in the best interest of the Balancer ecosystem. The delegates have therefore decided to abstain rather than actively oppose this request.
[BIP-342] Reallocate wstETH/wETH Protocol Fees *revote of BIP-332
NOTE: This is a revote on BIP-332. Aura missed voting for BIP-332 on Balancer Snapshot last round even though it unanimously passed the Aura vote for BIP-332.
Vote: Yes.
Rationale: The gauge incentive portion of the protocol fees for this pool will be allocated as incentives for wstETH/bb-a-wETH. This will further incentivize the fully-boosted version of this pool to secure additional deposits in Aave. As a double yield-generating asset pool, the fully-boosted version provides better returns for LPs and the protocol. The older pool also lacks management tools introduced later (adjust the swap fee and the A factor), so a migration is recommended.
[BIP-343] Grant emergencyDAO disable recovery mode on Weighted and ComposableStable pools
Vote: Yes.
Rationale: On the 24th of June 2023, the Balancer Emergency SubDAO, put all Composable Stable Pools (CSPs) into Recovery Mode. This was in response to an incident reported by ImmuniFi that Balancer Labs could not immediately verify or disregard. The ongoing investigation leads to the belief that many pools can run safely outside Recovery Mode. The Emergency DAO has requested rights to disableRecoveryMode() on all CSPs and all Weighted Pools version 2 and above.
This will allow them to unpause pools as it becomes sensible, without a 1-2 week governance delay.
[BIP-344] Activate Optimism Initial Pool Gauges [Optimism]
Vote: Yes.
Rationale: As layer zero permits cross-chain boosting to veBAL gauges and the potential launch of Aura on Optimism, it makes sense to move forward with activating gauges on the network for pools that drive revenue there. This proposal aims to turn on gauges for four weighted pools:
Happy Road 1 (40WETH-40OP-20USDC) - uncapped
Proof of Reserves (50ERN-50USDC) - 2% cap
Bonded Oath Token (80OATH-20WETH) - 2% cap
Tri-SONNE Harmonic Crescendo 2 (Beets Reaper SONNE Boosted 25wBTC-50wstETH-25USDC) - uncapped
[BIP-345] Enable wstETH/WETH Gauge [Optimism]
Vote: Yes.
Rationale: This pool uses the metastable pool factory, which allows the protocol fee on yield to be taken, even with the recent potential issue raised for CSPs. This is the best option until the CSP protocol fee is sorted out.
[BIP-346] Enable wstETH/WETH Gauge w/ 10% cap [Optimism]
Vote: Yes.
Rationale: This proposal is for a custom pool from Gyroscope built on top of Balancer’s pool architecture that will bring a new kind of concentrated liquidity to BeethovenX that is much more efficient and customizable compared to all other existing pool types. The pool is an E-CLP or Elliptic Concentrated Liquidity Pool. This pool type is ideally suited for liquid staking tokens and could generate significant trading volume. The fee split is as follows: 50% of all collected fees will go to liquidity providers, while the remaining 50% will go towards BeethovenX.
[BIP-347] Fund Balancer Maxis for Q3 2023
Vote: Yes.
Rationale: The Maxis keep the Balancer DAO engine running, and this request didn’t increase the total funding significantly. They are constantly absorbing more tasks, and it is an SP that is running properly.
[BIP-348] Ecosystem ONsite Proposal Q4 2023
Vote: Abstain.
Rationale: We are impartial on this matter, so we leave this decision to the other voters.
[BIP-349] Funding Proposal for the Balancer OpCo - Administrative and Operational - for Year 2 - FY23 Q3 through FY24 Q2
Vote: Yes.
Rationale: This proposal is for the Adm & Ops part of OpCo (+ GRC). The original proposal was broken in two to differentiate the product (Front-end) development from the adm part. It trimmed a buffer of +80k USD (if the need arises, they will make a proposal specific to that). Sounds reasonable, and the GRC absorption was requested by the Ecosystem Council.
[BIP-350] Balancer Grants DAO Service Provider Proposal Q3 2023
Vote: Abstain
Rationale: We are impartial on this matter, so we leave this decision to the other voters.
[BIP351] Funding Proposal for the Balancer OpCo - Product Team - FY23 Q3 through FY24 Q1
Vote: Yes.
Rationale: This proposal is for the Product part of OpCo. The original proposal was broken down to differentiate the Product (Front-end) development from the adm part. It trimmed an extra 100k USD from the original and reduced the length (funding for nine months now). It will maintain the support to the Front-end and introduce new features to improve the user experience.
[BIP-352] Funding Proposal for the Integrations Team (Three Rocks)
Vote: Yes.
Rationale: This proposal is for the Integration Team (an orb’s spin-off), composed of 4 members. The ask is 306k USD + 61k BAL for five months. The team is responsible for helping new partners integrate into the Balancer ecosystem, building tools to automate this process and performing code reviews to ensure safety, and it is a reasonable request.