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 ALCX 0xdBdb4d16EdA451D0503b854CF79D55697F90c8DF
ADD B20 0xc4De189Abf94c57f396bD4c52ab13b954FebEfD8
ADD HOPR 0xF5581dFeFD8Fb0e4aeC526bE659CFaB1f8c781dA
ADD ICHI 0x903bEF1736CDdf2A537176cf3C64579C3867A881
ADD MASK 0x0fe629d1E84E171f8fF0C1Ded2Cc2221Caa48a3f
ADD MASK 0x69af81e73A73B40adF4f3d4223Cd9b1ECE623074
ADD PUNK 0x9cea2eD9e47059260C97d697f82b8A14EfA61EA5
ADD ROBOT 0xfb5453340C03db5aDe474b27E68B6a9c6b2823Eb
ADD SPC 0x86ed939B500E121C0C5f493F399084Db596dAd20
ADD sTSLA 0x918dA91Ccbc32B7a6A0cc4eCd5987bbab6E31e6D
ADD vBNT 0x48Fb253446873234F2fEBbF9BdeAA72d9d387f94
ADD VSP 0x1b40183EFB4Dd766f11bDa7A7c3AD8982e998421
The proposed changes will go into effect at 00:00 UTC on Monday, March 1. 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 vBNT <-> BNT
Omissions
Some requested tokens were omitted this week.
The following tokens lack price feeds via the CoinGecko API, which means they can be listed on the UI but are 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 CADC 0xcaDC0acd4B445166f12d2C07EAc6E2544FbE2Eef No price feed
OMIT ETHA 0x59E9261255644c411AfDd00bD89162d09D862e38 No price feed
OMIT KYL 0xFAf9b1cbCaf4321AE834335C8bA50B170cf836e7 No price feed
The following token is a “Purgeable Synth,” meaning that it possesses a mechanism allowing it to be “purged” (forcefully sold for sUSD) at any moment, thereby permanently locking sUSD in various Balancer pools and resulting in loss of funds for LPs. Other such synths that have been held back from the whitelist include the Inverse Synths (iETH, iBTC, etc.) and sDEFI. This behavior violates Whitelist Criterion #6: The token must not possess any mechanisms which, when combined with a Balancer pool, result in material losses to the principal value of the pooled token. This criterion covers all value-loss edge cases which may be difficult to anticipate but can still preclude a token’s whitelisting.
OMIT sXTZ 0x2e59005c5c0f0a4D77CcA82653d48b46322EE5Cd Purgeable synth