BAL Whitelist Modifications for Week 39

Governance Liquidity Mining [deprecated]
1

On behalf of the Balancer community, I’d like to propose the following modifications to the token whitelist used for BAL governance token distribution. All new tokens will be placed at cap1 ($1M) as described in the updated whitelist proposal. At any time, community members may propose on the forum to increase a token’s cap to the next tier.

As a reminder, these whitelist proposals are pre-approved on objective technical criteria, so they are not subject to community vote. To suggest a token for inclusion in one of these proposals, please use the #token-requests channel in the Balancer Discord. Requested tokens will be vetted in a single batch each Friday, to take effect the following Monday. The official instructions and listing criteria can be found here.

For reference, the active whitelist can be found here. Note that the additions suggested within this proposal are unlikely to appear on the official list until a few days after publication. Also see the original motivation for creating the whitelist.

Proposed Modifications

I would like to propose adding the following new tokens to the whitelist:

ADD		DUCK			0x92E187a03B6CD19CB6AF293ba17F2745Fd2357D5
ADD		ETHIX			0xFd09911130e6930Bf87F2B0554c44F400bD80D3e
ADD		pxGOLD_MAY2021	0x59fec83eC709c893aedD1A144Cf1828Eb04127Cd
ADD		RAD				0x31c8EAcBFFdD875c74b94b077895Bd78CF1E64A3
ADD		SI				0xD23Ac27148aF6A2f339BD82D0e3CFF380b5093de
ADD		TAP				0x7f1F2D3dFa99678675ECE1C243d3f7bC3746db5D
ADD		USDP			0x1456688345527bE1f37E9e627DA0837D6f08C925

The proposed changes will go into effect at 00:00 UTC on Monday, February 22. Pools containing newly whitelisted tokens will begin to accrue BAL beginning at 00:00 UTC on Monday; but they may not appear on the Balancer pools UI with symbol/logo until a few days later. Furthermore, whitelisted tokens will not be added to the Balancer exchange UI; the core team adds tokens to the official exchange UI at their own discretion and considers a variety of factors. Tokens can always be traded using contract addresses in place of symbols, and anyone is free to fork the open source exchange UI to add more symbols.

Resulting Soft/Hard Pegs

The following price pegs will be added to the BAL mining scripts in response to the whitelist changes. At time of writing, soft pegs receive a wrapFactor of 0.2 and hard pegs receive a wrapFactor of 0.1. For reference, please see the wrapFactor proposal.

SOFT	pxGOLD_MAY2021	<->	gold group
SOFT	USDP			<->	USD group

Omissions

Some requested tokens were omitted this week.

The following token lacks a price feed via the CoinGecko API, which means it can be listed on the UI but is not yet eligible for liquidity mining due to violation of Whitelist Criterion #7: The token must have a price feed accessible via CoinGecko’s API, e.g. this example link for WETH. This is instrumental to calculating a pool’s eligibility for BAL rewards. If a token meets all of the remaining criteria but not this criterion, it can be added to the UI whitelist and reconsidered for the mining whitelist once the price feed becomes available.

OMIT	sTSLA	0x918dA91Ccbc32B7a6A0cc4eCd5987bbab6E31e6D	No price feed
2

There’s another recent change that I forgot to mention. Until several days ago, TRB (Tellor Tributes) was whitelisted. But the token experienced a failed contract upgrade, and now it is stuck. TRB cannot be transferred or really interacted with at all because the contract to which it points is not an ERC-20 token contract. So in its current form, TRB is quite literally useless and can’t be traded, added to, or removed from liquidity pools. As a consequence, it also doesn’t have valid price data. Read more about the incident here: https://twitter.com/WeAreTellor/status/1361390854578053122?s=20

For all of the reasons above, TRB has been removed from the token whitelist so as not to cause confusion about its eligibility, and it can be reinstated at a later date after the Tellor team performs a token migration to a new contract. We have been in touch with them and they are aware of the Balancer pools that have been affected by this incident. Their plan is to make all liquidity providers whole, but details are still being worked out.