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 at the end of each week. 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 1MT 0xf0Bc1ae4eF7ffb126A8347D06Ac6f8AdD770e1CE
ADD BAC 0x3449FC1Cd036255BA1EB19d65fF4BA2b8903A69a
ADD BADGER 0x3472A5A71965499acd81997a54BBA8D852C6E53d
ADD BAS 0xa7ED29B253D8B4E3109ce07c80fc570f81B63696
ADD ESD 0x36F3FD68E7325a35EB768F1AedaAe9EA0689d723
ADD XSGD 0x70e8dE73cE538DA2bEEd35d14187F6959a8ecA96
The proposed changes will go into effect at 00:00 UTC on Monday, December 14. Pools containing newly whitelisted tokens will begin to accrue $BAL rewards beginning at 00:00 UTC on Monday; but they may not appear on the Balancer pools UI with symbol/logo until a bit later in the week, most likely Tuesday or Wednesday. Please be patient. 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 BAC <-> USD group
SOFT ESD <-> USD group
Omissions
Some requested tokens were omitted this week.
The following tokens lack price feeds via the CoinGecko API, which is a violation of Whitelist Criterion #7: The token must have a price feed accessible via CoinGecko’s API. This is instrumental to calculating a pool’s eligibility for BAL rewards.
NO PRICE FEED NEX 0xE2dc070524A6e305ddB64d8513DC444B6a1ec845
NO PRICE FEED TAP 0x7f1F2D3dFa99678675ECE1C243d3f7bC3746db5D
The following token also lacks a price feed, so it is excluded on those grounds, but more importantly this token warrants community discussion prior to inclusion. There has been an effort thus far to exclude “generic” liquidity pool tokens, i.e. those not marketed and widely used as derivative assets. Accepting all forms of BPT or UNI-V2 tokens, for example, would welcome infinite dilution of liquidity mining rewards as first thousands of pool tokens are added and then pools of pools and pools of pools of pools, and so on. At the moment, adding a token like this one might be seen as a breaking of the established precedent. The community would need to decide whether there are any criteria that differentiate this pool token from other excluded pool tokens and formalize those criteria for future such requests.
PENDING DISCUSSION BAL-REBASING-SMART-V1-AMPL-USDC 0x49F2befF98cE62999792Ec98D0eE4Ad790E7786F