Balancer Grants February 2023 Update

Service Providers
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Balancer Grants Wave 7 Update (Monthly Update #13)

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The BAL Grant Program is one of the ways that BalancerDAO promotes the development of the Balancer Protocol and Ecosystem. The Grants Service Provider proposal posted in the Balancer forum was approved through the successful snapshot vote by veBAL holders, funding this quarter of grants. The current wave will run until the end of March and the vote for grant wave 7 has given the program 70k BAL to be allocated towards grants for this current round!

New Live Grantees

The total amount of applications of this wave has reached 55, with 14 progressing to the next stage and 7 projects approved for grants at a total of ~31,224 BAL. Keep an eye out for our next two grantees to be announced soon!

Finalized Grants

Atlantis has completed Balancer’s scope of work in creating an open source custom built Balancer front end for the web3 developer community, creating the in game Balancer building, and incorporating quests to drive game play towards the Balancer ecosystem. The initial building and interfaces are shown by Atlantis team member CJ here.

  • Future gaming interfaces can operate a simplified Balancer protocol front end, ie by self hosting, resulting in an interface that’s easy to use and integrate.

Atlantis is bringing improvements to Balancer and their game in 2023!

  • Spatialized web3 social
  • Perpetual gathering space for BAL community with easy, memorable link
  • Gamified education about Balancer ecosystem
  • More sign-in options, ie join as a guest or sign in with another social profile (like Twitter, Discord etc), vs only Metamask / WalletConnect
  • Mobile
  • Better hangout & events experience
  • Atlantean characters in-game

mStable is championing the ERC4626 standard for tokenized vaults which Balancer uses on Linear pools which are the basis of Boosted Pools. We join a number of other protocols assisting the funding of this alliance with the intent to encourage collaboration and further improvement of this standard.

As announced in the previous report, Skytale has been working on the Balancer SDK to introduce two new features:

  1. Impermanent Loss Index: users of the SDK can now calculate the impermanent loss index for their investments from any date; moreover, they can now query their investment history for joining or exiting a pool to have a clear picture of the impermanent loss index extension.
  2. Claim Liquidity Incentive: users can now claim liquidity incentives directly from the SDK, as they can from the dashboard; the new feature allows users to claim either BAL incentives or Protocol revenue & veBAL incentives in both primary and level 2 networks.

We are proud of our contribution to these two new balancer SDK features, and we look forward to integrating them into the Skytale dashboard.

Quantstamp’s audit of Sturdy’s integration with Balancer has been completed and made publicly available! Additionally, borrowers can now deposit Aura-staked BPTs (like wstETH/WETH) to lever up. For more info and to see other integrations check out app.study.finance.

XS Finance has completed building out Time Weight Asset Market Manager (TWAMM) functionality for Balancer! The goal of TWAMM functionality is to execute large trades over a period of time in a way that reduces slippage and gas cost for the party executing a swap.

The code has undergone a manual review by Certora as part of the Balancer <> Certora Accelerator program with all issues fixed. The WETH/USDC pool is live and working well at https://app.longswap.xyz, while we look to deploy more pools. We’re also looking to out our numerical analysis on how our TWAMM works with various parameters.

Grantee Updates — Building

The program is proud to present our grantees and their updates in alphabetic order:

Blockful’s team managed to validate important Vault actions, such as: SWAPS, BATCHSWAPS, JOINS, EXITS.

They created the first example of Balancer’s vault interactions purely in Solidity language.

Blockful has also managed to go beyond the limitation of token swaps of a relation 2–1 into a N-N relation, where we can have multiple tokens in and out when using the convert function.

Blockful’s team is only pending a final review from the Aztec and Balancer teams in order to finalize their grant. Users will be able to utilize the Aztec Network in order to interact with Balancer pools using the functions listed above.

Boot’s team is formalizing the mods to make then more suitable for a pull request, just in case that needs to happen. They’ve still got to build forms for managing the customswap pool once deployed. Once Boot gets beyond the above issue they’ll hopefully have Goerli in a community-testable version within a couple weeks +/- whatever internal debugging they uncover from now until then.

  • Cosme Fulanito

Cosme is continuing to provide support to Balancer’s Spanish speaking community. Making Balancer’s tech more accessible to all is a key goal of the DAO and Cosme’s work exemplifies this. Grants is funding 4 months of support and translations.

Cron Finance is in the final phases of TWAMM development. In the past few months, they’ve achieved feature completion, contract optimizations, gas usage reductions, and began numerical analysis. The code has been audited by SpearbitDAO and the results yielded 0 critical issues. Cron’s goal is to have their V1 of TWAMM launched by ETH Denver. Stay tuned in March to hear more about Cron’s progress.

Cron Finance has been working on this since November 2021 and is nearing completion. They have been posting detailed, regular updates to their blog and twitter covering their progress to date. Latest update from January ’23 here.

We are in the final stage of vault development and are currently connecting governance contracts with the ERC-4626 vault. A first version of the vault code has been handed over to the Balancer infra team for review. We are also in discussion with audit firms to ensure the best possible outcome in terms of security and with various venture capital groups to move beyond the first phase of our go-to-market strategy (base pool development) to financially secure our full product range. Our graphic designer has submitted the first mockups of the website to us for review, so that we can soon start the development of our landing page.

GammaSwap is a new project which is integrating with multiple AMM’s to permit users to hedge against impermanent loss. Their strategies will offer option like exposure to users and is particularly exciting with Balancer because of the variation in constant product weighted pools Balancer offers, which no other AMM’s do.

As of this month GammaSwap is in the final stages of finishing their Balancer integration with Zellic and just had their core smart contract audit completed by Halborn. The team is in the final stages of finishing their UI and Beta Testnet should be available in 7–14 days.

Hello wizard enjoyers, it’s been a pretty busy month for us! We have finished our balancer strategy and created some handy math libraries to deal with liquidity provisioning on Balancer weighted pools: We will soon open-source them for all other devs to use. Testnet time is approaching, stay tuned!

After restructuring their core architecture Ithil will support loans for an arbitrary number of tokens. This will permit users to take full advantage of Balancer’s multitoken pools. We will deploy the testnet with the upgraded core architecture and UI in March, assuming no unforeseen issues crop up.

Kassandra is in the final steps of concluding the development of the interface for Managed Pools. In this last month, we were focused on the development of the dashboard that will allow managers to track and update Managed Pools created with Kassandra. There is still QA work to be done, and we hope to be inviting the Balancer community to start testing our interface really soon.

The Symmetric team is currently following up on the research phase by building controllers to interact with managed pools contracts. Some base controllers have been created with the needed functionality. The next step is testing the controllers with the managed pools and finalize business logic.

This month I started working on the join/exit pool screen. Html mockups have been made.
Pool list: Balancer Alternative UI
Join pool: Balancer Alternative UI
Exit pool: Balancer Alternative UI
The development of the first part, pool display, is almost complete.

All smart contract work has been completed including audits and Balancer’s pool migration. We are working on our front end to get the vault launched. We’re doing some refactoring on the leveraged vault UI as well so the launch of this next leveraged vault is getting tied into that

Current goal is to have everything complete and launched in March pending frontend work dev time.

While Balancer continues development of managed pools, RealEstate.Exchange has successfully completed testing with the first property / token they will list: TEST55VERG (t55VERG) Token Tracker | Etherscan

Here, they successfully completed a buy and sell order on their order book version of the DEX, where you can see test orders in RealEstate.Exchange

We have completed the project as per the grant proposal. We have been running on Goerli, for more than 3 months. After that, we added LP allowlisting, and deployed on Ethereum Mainnet in late December. However, the initial ManagedPool factory was deprecated, and we are currently waiting for a new one to be deployed. Next steps are to jump on a call with @Mkflow and others to iron out some details and timelines around deployment of the new factory contracts. Once those are ready we’ll deploy again and move our funds over. If you or anybody in the ecosystem is interested in building data-rich and complex asset management products that run in a decentralized and compliant way, reach out to oaksprout@valory.xyz.

The first draft of the yBAL codebase is almost complete. This is made up of our veBAL voter contract, a proxy for interacting with it, the yBAL token itself, a strategy for our staked yBAL vault, and a zap contract that allows users to enter the yBAL ecosystem and swap between the various elements. Only the zap contract still needs to be finished. Peer reviews of the contracts will begin next week and any required fixes/improvements will be implemented before the whole project is sent for a full security review/audit.

Financials

At time of writing BAL @ $7.21 USD

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About Balancer Grants

The BAL Grant program is one way BalancerDAO promotes the development of the Balancer Protocol and Ecosystem.

The BAL Grant program provides support and funding ($1K — $100K) to projects committed to supporting Balancer Protocol in achieving its mission to become the number one source for Decentralized exchange trades. This program is a good fit for individuals and groups that want to run a project that builds technology or resources on the Balancer Protocol.

Apply now!

If you are interested in supporting the development of the Balancer Ecosystem or want to build on top of the Balancer Protocol, this is your chance! Get started by filling in the Grants Application form. You can also check out our RFP page for inspiration!

For further questions about how the Grants SP works, check out the grants page, follow us on Twitter, or send an email to grants@balancer.community.

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