Balancer Grants: Wave 9 July 2023 Update

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 June and the vote for grant wave 8 has given the program 55k BAL to be allocated towards grants for this current round!

Going into Wave 9, we are concentrating on projects (in no particular order) that:

  1. Make Balancer easier for future teams to build on by improving dev documentation, SDKs etc
  2. Expand to more ecosystems and encourage integrations
  3. Leveraging the flexibility of Balancer’s AMM infrastructure to build out new custom pools implementations

We have built a central hub for the tools that the community creates through grants or otherwise which lives at docs.balancer.fi/tools to make them more accessible for all.

We have added to our RFPs but we will always be open to new and unique ideas of how to improve and expand on Balancer’s flexible tech.

New Live Grants

The total amount of applications of this wave has reached 37 including 7 from the end of Wave 8, with 10 progressing to the next stage and 2 grants approved for grants at a total of ~4.4k BAL.

bleu is a web3 technology and user experience collaborator for companies and DAOs. With connection to the Balancer ecosystem though Fabio (BLabs) they have provided multiple improvement projects across tooling, visualisations and dapps through grants. Their newest additions are:

— An extention to their Stable Swap Simulator project to cover new custom pools for Gyroscope and Xave Finance. Read more here.

— Building visualizations for historic pool APYs from veBAL emissions and investigate requirements to extend this to include APY from yield and swap fees.

Grantee Updates — Building

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

July was busy with the Pool Simulator grant kick-off and tying up loose ends on Internal Balances and Metadata deployments. We’ve re-strategized the Pool Simulator, integrating the ECLP pool with our first milestone. The extra work and refactoring have extended the timeline a bit, so we’re looking at next Tuesday for completion, but we’re still aiming to wrap up the whole project by end-August.

We completed a smart-contract security audit with 0x52 last month. No critical vulnerability leading to a loss of assets was found. The vulnerabilities found were cleaned up by us. Currently we are in the process of building our landing page and should be ready in the next 1–2 weeks. This month we will deploy and test a stable boosted pool on a testnet so that we can deploy our first stable boosted pool (USDT/USDC/DAI) on Ethereum mainnet towards the end of August. We will then focus next on a decentralized stable boosted pool, which we plan to deploy to Ethereum mainnet next month. At the same time, we are completing R&D for an upcoming ETH boosted pool.

Litepaper: Litepaper | Dynamo
ERC-4626 functionality: ERC-4626 | Dynamo
Governance functionality: Governance | Dynamo
Audit report: Security | Dynamo

The team have the smart contracts ready pending “a lot of math” in the UI to incorporate for the differences in PNL, leverage, slippage, etc. This will allow support for 80/20 pools.

Right now the push it to get the core 50/50 pools out with a goal of end of August then will deploy on other chains and incorporate Balancer weighted pools.

The team are almost done with the testnet and will go live (privately) approximately next week. Balancer is taking more time than expected with a possible external attack vector identified so it has been postponed to September.

We have built two separate controllers to execute a variety of functions to manage the reserve (rebalancing, setting parameters, etc), deployed the necessary contracts, and built a functional UI to make interaction with the reserve simple. The final step is to integrate this with GoodDollar’s reserve. We are only waiting to do exactly that and then are finished with this milestone.

With priorities on Notional V3, this grant work is on hold. The team remains ready on the smart contract side, but requires some more work on the frontend to get that ready for completion. Once Notional V3 is launched, the grant work will continue.

We have been almost exclusively focused on the order book and integration with an ATS that we can use for the license to launch in the US during the month of July, which is always slower due to summer. Just to recap the goal here is to introduce real estate tokens on the orderbook, and then roll over these security tokens into managed pools powered by Balancer once the regulatory requirements are crystal clear.

  • BAL grant (part 1 and 2) was used to make initial yBAL LP. Gauge has been added and live for votes and bribes.
  • yBAL audit results came back, only minor fixes needed now completed.
  • UI is complete, but waiting on zap deployment to be fully tested in production.
  1. The audit of the FXMetapool by PeckShield should be completed by the end of the month.

  2. In-tandem with Balancer’s launch on Avalanche, Xave has launched a EUROC:USDC FXPool (link to announcement: Xave is adding EUROC support to continue building liquid FX markets for DeFi | by Xave Finance | Xave Finance | Aug, 2023 | Medium)

  1. First version of the brib simulator is live: DeFilytica Tools
  2. veBAL multi-voter has a ton of new features: vote optimizer and Paladin Quest integration. That thing is now quite advanced and took tons of effort to build.

We are now going into stabilization phase for these features, gather feedback and improve them.
Next focus hasn’t changed much:
→ adding more chains to analytics. Avalanche was just added, Base next (tools as well)
→ building HH dashboard (soon tm)
→ financial reports (soon tm)
→ working on gov tools

Financials

At time of writing BAL @ $4.30 USD

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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