BAL Whitelist - Round 9

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 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/217

First, I would like to propose modifying the following contract addresses in the whitelist. These tokens are already whitelisted but have migrated to new contracts:

    MODIFY	ARTE	0x34612903Db071e888a4dADcaA416d3EE263a87b9
    MODIFY	DOS		0x0A913beaD80F321E7Ac35285Ee10d9d922659cB7
    MODIFY	OCEAN	0x7AFeBBB46fDb47ed17b22ed075Cde2447694fB9e

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

    ADD		BAND	0xBA11D00c5f74255f56a5E366F4F77f5A186d7f55
    ADD		DAM		0xF80D589b3Dbe130c270a69F1a69D050f268786Df
    ADD		eMTR	0x29E9fDF5933824ad21Bc6dbb8BF156EFA3735e32
    ADD		eMTRG	0xBd2949F67DcdC549c6Ebe98696449Fa79D988A9F
    ADD		EVAN	0x89E3aC6Dd69C15e9223BE7649025d6F68Dab1d6a
    ADD		FLUX	0x469eDA64aEd3A3Ad6f868c44564291aA415cB1d9
    ADD		GRT		0xb83Cd8d39462B761bb0092437d38b37812dd80A2
    ADD		LOCK	0x95172ccBe8344fecD73D0a30F54123652981BD6F
    ADD		QDAO	0x3166C570935a7D8554c8f4eA792ff965D2EFe1f2
    ADD		SAI		0x89d24A6b4CcB1B6fAA2625fE562bDD9a23260359
    ADD		sXMR	0x5299d6F7472DCc137D7f3C4BcfBBB514BaBF341A
    ADD		SXP		0x8CE9137d39326AD0cD6491fb5CC0CbA0e089b6A9
    ADD		TEND	0x1453Dbb8A29551ADe11D89825CA812e05317EAEB
    ADD		USDQ	0x4954Db6391F4feB5468b6B943D4935353596aEC9
    ADD		VLT		0x6b785a0322126826d8226d77e173d75DAfb84d11
    ADD		YAMv2	0xAba8cAc6866B83Ae4eec97DD07ED254282f6aD8A
    ADD		YFII	0xa1d0E215a23d7030842FC67cE582a6aFa3CCaB83

The proposed changes would go into effect at 00:00 UTC on Monday, August 24.

3 Likes
2

Some details I forgot to mention regarding new soft pegs (wrapFactor=0.2) and hard pegs (wrapFactor=0.1):

USDQ goes into the USD category and will be a soft peg with any USD-tracking token like DAI, USDC, etc.

SAI goes into the ETH category and will be a hard peg with WETH, aETH, cETH, etc. Some may not realize, but since SAI was decommissioned several months ago, it is simply a tokenized share in an ETH pool, so it tracks ETH’s price action and is directly redeemable for ETH (like WETH).

1 Like
3

Have we looked into whitelisting the CREAM token? They have a pool here: https://pools.balancer.exchange/#/pool/0x5a82503652d05b21780f33178fdf53d31c29b916/

4

Three whitelist-related proposals were voted into effect this week, so the following changes will also take effect Monday at 00:00 UTC:

  • MKR cap increases from cap3 ($10M) to cap4 ($30M)
  • RPL cap decreases from cap3 ($10M) to cap2 ($3M)
  • DZAR is removed from the whitelist
1 Like
5

In addition, the new PERL contract (already vetted) just got added to CoinGecko, so here’s an addition to the list above:

    ADD     PERL    0xeca82185adCE47f39c684352B0439f030f860318
6

CREAM was vetted in Round 8, and it was found that the dev team holds 98% of the token supply in a Gnosis Safe. Token distribution is an important factor in the whitelist vetting process, as disproportionately large holders have a lot of power both in extracting liquidity mining rewards and also manipulating token price. Every week I announce these omissions and considerations in our Discord channel, but perhaps I should start adding those to the official proposals as well.

2 Likes
7

Got it, thanks, rabmarut!

8

Hi there,

CREAM was in the middle of revamping token supply holdings as well as admin ownership of contracts. Just last night the announcement was made that 92.5% fo token supply has been locked in a Gnosis Safe with keys given to community leaders including Rob Leshner from Compound. Circulating supply to date comes only from liquidity mining. Furthermore, CREAM has increased Balancer pool incentives, driving the pool size now above $5-million USD.

How do we get CREAM vetted again in Round 9, with this new update?

2 Likes
9

Round 9 is closed, by I’ll revisit in Round 10 (end of this week). Thanks.

10

alright thank you for you and the Balancer community’s consideration. CREAM’s main pool is listed here: https://pools.balancer.exchange/#/pool/0x5a82503652d05b21780f33178fdf53d31c29b916/

happy to help answer any other questions there may be.

11

I’ve just read the update. Now that 92% of token are in the multi-sig wallet, does that mean they are locked permanently? What plans are in existence showing how / if these will be distributed?

12

No the 92.5% are not locked permanently, but rather contained in a multisig governed by community leaders such as:

Robert Leshner, CEO, Compound Finance
Peter Pan, Summoner, MetaCartel, MetaCartel Ventures
Darius Sit, Founder, CIO, QCP Capital
Andrew Kang, Mechanism Capital.
and others.

Plans/breakdown for the tokens so far are (Source):

10%, 900,000 — Team*, vesting over 2 years, 6 month cliff.
10%, 900,000 — Seed, vesting over 4 years, 1 year cliff.
20%, 1,800,000 — Liquidity Provider Incentive
60%, 5,400,000 — Governance Allocation

*25% of the team allocation, 225,000 CREAM, has been allocated to our technical and security advisor Compound Finance, distributed monthly, 37,500 per month. These tokens are legally locked. They will not enter circulation until February 8th, 2021.

Seed vesting schedule change was announced today here.

13

Thanks for the reply mate. Could you fill me in on how the 60% governance allocation works?

14

Any spending on that 60% governance allocation would have to come from a community decision. Don’t think that will come anytime soon.

In short, there will be no tokens in distribution between now and Feb 8th outside of the liquidity mining pool.

15

Roger that, thanks mate.

1 Like
16

Hi,

Can you look at adding YFV for the next round? TVL is rising quickly.

17

Hi, the contract address of DOS was changed during this whitelist round. However, when choosing the following pool: https://pools.balancer.exchange/#/pool/0x7d014a7464c91f20da99a3e6f77bc5506ddf3c5e/ , consisting of 60% USDC and 40% DOS, Balancer still shows the message “This could be a risky pool as it contains one or more tokens outside of our whitelist. (…)” How is this possible?

18

The front-end team is in the middle of a sizable change to the pools UI, so the main site hasn’t been updated in a bit and is lagging behind. The whitelist changes should be up on the beta site: https://beta.pools.balancer.exchange. And I’m guessing they’ll hit the main site any day now; the team is just testing in beta.

19

Good day balancer community!
Today I created pool for Robonomics token (XRT): https://pools.balancer.exchange/#/pool/0xbe9bf871c99015374e8aecfc711eca09cbb7ca5c/

You can find information abot XRT on coingecko and actual trades on Uniswap with volume > 1 mln $ is here https://uniswap.info/pair/0x3185626c14acb9531d19560decb9d3e5e80681b1

What I should provide more to add XRT in balancer whitelist?

20

Thanks for your response! I guess it’s updated now, as the main site doesn’t display the non-whitelisted warning anymore.