On behalf of the Balancer community, I’d like to propose the following modifications to the token whitelist used for BAL governance distribution. As a reminder, these whitelist proposals are now pre-approved on objective technical criteria only, so they are not subject to community vote. All new tokens will be placed at cap1 for liquidity mining, meaning each token’s measured BAL-eligible liquidity is scaled to a maximum of $1M (at time of writing). At any time, community members may propose to increase a token’s cap to the next tier. For reference, please see the previous proposals which detail the motivation for creation of the whitelist and define the list of tokens used to date:
https://forum.balancer.fi/t/proposing-the-token-whitelist-for-bal-distribution
https://forum.balancer.fi/t/bal-whitelist-round-2
https://forum.balancer.fi/t/bal-whitelist-round-3
https://forum.balancer.fi/t/bal-whitelist-round-4
https://forum.balancer.fi/t/bal-whitelist-round-5
https://forum.balancer.fi/t/bal-whitelist-round-6
https://forum.balancer.fi/t/bal-whitelist-round-7
https://forum.balancer.fi/t/bal-whitelist-round-8
https://forum.balancer.fi/t/proposal-to-update-the-whitelist-process
https://forum.balancer.fi/t/bal-whitelist-round-9
Proposed Modifications
I would like to propose adding the following new tokens to the whitelist:
ADD CREAM 0x2ba592F78dB6436527729929AAf6c908497cB200
ADD DGVC 0x26E43759551333e57F073bb0772F50329A957b30
ADD FOUR 0x4730fB1463A6F1F44AEB45F6c5c422427f37F4D0
ADD HUE 0xDcfE18bc46f5A0Cd0d3Af0c2155d2bCB5AdE2fc5
ADD LGO 0x0a50C93c762fDD6E56D86215C24AaAD43aB629aa
ADD MET 0xa3d58c4E56fedCae3a7c43A725aeE9A71F0ece4e
ADD SNTVT 0x7865af71cf0b288b4E7F654f4F7851EB46a2B7F8
ADD UniFi 0x9E78b8274e1D6a76a0dBbf90418894DF27cBCEb5
ADD WAIF 0xB2279B6769CFBa691416F00609b16244c0cF4b20
ADD YFV 0x45f24BaEef268BB6d63AEe5129015d69702BCDfa
ADD yUSD-OCT20 0xB2FdD60AD80ca7bA89B9BAb3b5336c2601C020b4
ADD yyCRV 0x5dbcF33D8c2E976c6b560249878e6F1491Bca25c
The proposed changes would go into effect at 00:00 UTC on Monday, August 31.
Omissions
The following changes were considered but held back this week. These tokens are not forever denied from the whitelist, and they may very well be considered in future rounds.
One token was simply requested too late into the cycle and there was no time to properly vet:
YFFI
These tokens lack price feeds via the CoinGecko API, which is required for computing BAL eligibility:
FNX
ITAM
ZCI
This token has a deployer address (EOA) with infinite mint privileges. Supply manipulation is an important consideration for the whitelist, as a Balancer pool can effectively be drained by a user who can continuously sell one token into it without incurring loss. The deployer has the option of renouncing ownership of the contract in order to fix this vulnerability.
NIOX
This token has a somewhat centralized distribution. There are only 44 token holders, and 77% of the supply sits in a single contract. Like mint capability, supply centralization can result in price manipulation which can harm Balancer LPs. Over time, perhaps the distribution will further decentralize and warrant a whitelisting.
ANC
This token is still very new and gives a disproportionate amount of power to the contract owner. There is also an ongoing/upcoming audit, so it is probably best to wait until 1) the audit completes, and 2) more of the ownership power is transferred to token holders via governance contracts. The existing centralized point of failure and very little time in production is quite risky and should inhibit a whitelisting in the short term.
SUSHI