Balancer Maxis August 2022 Update

August, like July, saw a continued high level of activity in the Balancer ecosystem. The Maxis continue to lobby for Balancer’s best interests on the forum as we view them. Outside of governance, efforts continue on BIP-19 and Optimism as well as interfacing with a variety of users and projects on a daily basis. This represents the second month of our Q3 engagement so the community can expect a funding proposal for Q4 to accompany the monthly update for September. We look forward to serving the Balancer ecosystem for a long time to come!

With that, here are the bullet point updates for August. For reference, please review BIP-18 which funded the Balancer Maxis for Q3.

  • Multisig Management
    • Five pools had swap fees changed. See here for list and reasoning.
    • Four new gauges were approved & added to the voting list
    • Two protocol fee distributions took place for a total of $1.1M (bribes, Treasury, veBAL)
    • The DAO Multisig executed a total of 6 transactions
  • Governance
    • The Governance Council approved 13 proposals for snapshot voting
    • Several proposals hit 30+ forum replies with a large part of that engagement being driven by Maxis. Maxis also authored a significant number of approved proposals.
    • Four out of the six Maxis are active delegates with current combined voting power of ~287.1k veBAL
    • Passed a proposal to redeem 2.5m worth of treasury FEI for USDC to help fund future DAO expenses
    • Optimism
      • $21.5k revenue sent to veBAL during the month.
      • Introductory incentives have ended. First gauge (rETH/weth) was added to veBAL voting and the first Hidden Hand bribe was made for it from Optimism! BAL emissions begin flowing on September 1st.
      • Look for wstETH and Aave boosted pools to arrive soon(™)
    • BIP-19
      • Core pool TVL continues to grow, though core pool revenue still fluctuates significantly as the market moves.
      • More core pools will be arriving soon - a proposal has already been made for a new bbaUSD on Ethereum to be added as a core pool.
      • See more detailed stats here.
    • Metagovernance: None during the month
  • User/Project Support
    • Three pull requests made to the frontend repo for adding new pools/new tokens/new gauges to the UI; Another seven pull requests for whitelisting tokens
    • Telegram chats continue to be lively :slight_smile:
    • Weekly testing of the UI continues! Gold star to zekraken
  • Community
    • August Coordinape round will soon open
    • Ongoing montly health-check, following on previous Ops subDAO metrics
    • Study groups initiative building up
    • New contributors being helped on onboarding process
    • Status of the DAO Treasury Report released
  • DAO Dev Work
    • Deployment of new pools and gauges to assist with the upcoming pool migrations
  • Record Keeping

The Balancer DAO August monthly update is scheduled for later today at 1pm EST in discord. See everyone there!