Balancer Maxis January 2023 Update

Service Providers Balancer Maxis
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January was a busy month, with most projects wanting to follow-up on boosted pools and Maxis helping hold the lines until engineering could sort out “the issue” with proper patches and disclosures (soon to be released).

That pushed the strategic planning and product release schedule a month forward, expecting boosted pools generalization for February, following what we now call “the great migration” we’ll all be seeing in the coming days. So, although we take a step back, Maxis are bullish on the position Balancer is set to gain market share in 2023, showing even more resiliency for its commitment to the security of DeFi technology.

Highlighting initiatives Maxis flagship this past month, we’ve proposed to disband the Gov Council per [BIP-163] giving more clarity to the governance process. Along side that, we’ve been working hard to increase transparency and automation in how we operate the DAO and apply governance. More details about the Balancer Multisig Opreations and Automation can be found here in the new multisig-ops github repo. Check the pull requests and issues to understand our work. (Congratz @Tritium).

During Q4/22, we engaged in several conversations with other SPs in the Balancer ecosystem to help scale their (non-tech) activities. Coming January, we kick-started a community effort to engage with Orbs and Grants marketing teams, enabling more contributors to collaborate in our ecosystem (see below).

With that, here are the bullet point updates for January. For reference, please review [BIP-145] which funded the Balancer Maxis for Q1.

  • Multisig Management

    • AURA/WETH had its fee reduced from 1% to 0.5% at request of Aura team
    • Twelve new gauges were approved & added to the voting list, most focused around IBL.
    • Two protocol fee distributions took place for a total of $683k (voting incentives, Treasury, veBAL)
    • Treasury funds were swept into the new Karpatkey treasury management multisig as part of BIP-162
    • The DAO Multisig executed a total of 10 transactions

  • Governance

    • Champion the discussion and proposals around Year 2 funding gap and extending the runaway for ecosystem activities.
    • Champion [BIP-146], an incentives program that supports ve80/20 usage;
    • Damage control as we await the timeline on new pool factories and “the great migration”
    • Maxis authored a significant number of approved proposals
    • Four out of the six Maxis are active delegates.
    • Optimism
      • Optimism contributed $9200 of protocol revenue.
      • In wake of the issue Balancer disclosed, farms were transitioned to traditional weighted/stable/metastable pools. Boosted pools will roll out again once the fix is in place.
    • BIP-19
      • Automation of fee collection is in progress by Mimic
      • Expansion of BIP-19 is mostly on hold while we await the fix to the issue.
      • See more detailed stats here.

  • User/Project Support

    • Github commits made to the frontend repo that included participation from the Maxis
      • many token/stable pool whitelistings/stakable adds
      • many gauges added to the gauge voting list
    • Telegram chats very busy lately
    • Discord #partnership channel had 3 bizdev leads, with 7 discovery calls and 13 projects. Kudos to @Gleb for organizing the agenda.
    • Balancer “Anti Scam Initiative” by @Dubstard sees another busy month of scammers, doppelgangers and offenders. Check full report here.

  • Community

    • Coordinape’s January epoch ran with 16 participants, now amped to 5,000 BAL and welcoming creatives to scale up marketing initiatives;
    • New contributors onboarding process came to a halt, as we readjust onboarded contributors in specific roles they’ve been taking within the community.
    • Community Marketing workgroup will get rewards on Coordinape and particularly focusing on content building to be used for Orb in official Balancer channels and Grants SP. Also highlighting: forum recap on Twitter, “The Balancer Report" newsletter, cross marketing/community activities with third-party projects (and more).
    • We keep engaging with different SPs to better understand their needs and how new contributors could assist and scale their workforce.

  • DAO Dev Work

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  • Record Keeping
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