Balancer Maxis November 2023 Update

v3 is coming!

Finally, the word it out and we can talk about v3! Maxis have been actively collaborating on the scope and vision for the next iteration of Balancer. Our onsite in Milan was a great opportunity to get everyone together and officially kickstart v3 work. We are happy to be alongside the great minds pushing the Balancer protocol forward!

However, we are fully committed to delivering on all levels. Balancer v2 is still a beast! With a flourishing ecosystem, Maxis engage in day to day activities and keep the engines running and here are the main highlights in November.

First: our vlAura proposal went through, and we are most excited about this novel usage of governance power to the Maxis. Our goal is to use this allocation for strategic and core liquidity pools, to bootstrap Balancer growth in a more dynamic fashion, making bizdev decisions. We will soon present a governance proposal with our strategy.

The Arbitrum STIP is live and “super super charged”. We have recently changed the weekly allocation from 171,429 to 205,714.8 ARB per epoch (2 weeks) towards incentived pools to meet the Feb 15th deadline, monitoring and reporting to the Arbitrum DAO here. We can see a flow of projects looking more into Arb, with an uptick in TVL/volume we will continue monitoring (considering bula market hype). Here’s a cool dashboard! Special note to the exciting work with Balancer and Plutus, amplifying the veRDNT housed at Balancer.

On the core pool metrics, we have been monitoring fees and revenue growth. November was a good month, and we seem to be getting back to pre-hack numbers for voting incentives and DAO income. You can now check a beta version of the newly added Reports and Core Pools sections on Defilytica.

Here are the bullet point updates for November. For reference, please review [BIP-433] which funded the Balancer Maxis for Q4/2023, and make sure to check Maxi’s Notion and GitHub with continued additions being made.

  • Multisig Management

    • Maxi GitHub - Automation and operation of governance and the multisigs
    • [BIP-471] Update LayerZero Configs for Avalanche
    • [BIP-488] Authorize Mimic Smart Vaults on Mainnet, Avalanche, and Base
    • [RFC] Wire Up Batch Relayer V6
  • Governance

    • Four of the Maxis are active delegates.
    • [BIP-464] Remove BAL from Deprecated Ribbon Vault
    • [BIP-481] Claim and Lock Balancer DAO Aura allocation into vlAura
    • [BIP-498] Assisting DNS hack victims - Proposal to set a final deadline to claim DNS losses - Dec 25th (same as boosted pools hack)
  • Ecosystem

  • DAO Dev Work

  • User/Project Support

    • Telegram chats always busy
    • @Gleb and @Cosme active on community support (Discord)
    • Monthly meetings with frontend team and BLabs every Monday
    • Tokens and pool whitelisting
    • Gauges and governance support:
      • [BIP-468] Enable wUSK/paUSD/USDC Gauge with a 2% cap (Ethereum)
      • [BIP-466] Enable mevETH/WETH gauge [Ethereum]
      • [BIP-470] Enable ROOT/WETH Gauge [Ethereum] and [BIP-475] Kill ROOT/WETH Gauge [Ethereum]
      • [BIP-474] Activate BAL Emissions for Mainnet GBPT:USDC “FX Pool” with 2% emission cap
      • [BIP-476] Enable sDAI/DUSD Gauge [Ethereum]
      • [BIP-477] Enable PSP/OP 80/20 Gauge with 2% emission cap [Optimism]
      • [BIP-478] Enable 80mevETH/20FOLD Gauge [Ethereum]
      • [BIP-479] Enable psdnOCEAN/OCEAN 80/20 Gauge [Ethereum] with a 2% emission cap
      • [BIP-482] Enable Savvy Tricrypto (svUSD-svETH-svBTC) Pool Gauge [Arbitrum] with 2% emission cap
      • [BIP-483] Enable crvUSD/sDAI gauge with 2% emission cap on Gnosis Chain
      • [BIP-484] Enable 50WETH-50TAG Gauge [Base] with a 2% emission cap
      • [BIP-485] Kill R Gauges
      • [BIP-487] Balancer <> Across Add more BAL to LP
      • [BIP-489] Kill Xave FXPool Gauges and [BIP-499] Re-enable gauges for migrated FXPools
      • [BIP-490] Enable 80OETH-20WETH Gauge [Ethereum] with a 2% emission cap
      • [BIP-491] Enable 3 GYD/stablecoin Gauges [Ethereum]
      • [BIP-492] Enable weETH/WETH Gauge [Ethereum]
      • [BIP-493] Enable Ankr/ankrETh Gauge [Arbitrum]
      • [BIP-495] Enable frxETH/sfrxETH metastable pool gauge [Optimism]
      • [BIP-496] Enable osETH/ETH Gauge [Ethereum] with 10% emission cap
      • [BIP-497] Enable plsRDNTV2/8020RDNTWETH Gauge with a 2% weight cap

Lastly, here’s a final report on Q3’s discretionary USDC budget, with 12.770,00 USDC unallocated. This amount will be asked to roll over towards Q1/24 funding proposal:

Budget $30.000,00
28/05/2023 0x07B8EB605F02eDA28A1B58C92892ca16bF9ff7C9 TimBalabuch $180,00 Token images (FE)
28/05/2023 0xEa81D2dE2e5ec21a00a4446309651A2642EE9d8D CosmeFulanito $1.750,00 Discord mod (Jul)
28/05/2023 0x9A0965916851cD6582a8a8CDb9a1c2A1614492D6 Gleb $1.750,00 Discord mod (Jul)
28/05/2023 0x166f54F44F271407f24AA1BE415a730035637325 Dubstard $1.000,00 Discord security (Jul)
30/08/2023 0x07B8EB605F02eDA28A1B58C92892ca16bF9ff7C9 TimBalabuch $100,00 Graph design (Swag)
30/08/2023 0xEa81D2dE2e5ec21a00a4446309651A2642EE9d8D CosmeFulanito $250,00 Mod bonus (hack)
30/08/2023 0x9A0965916851cD6582a8a8CDb9a1c2A1614492D6 Gleb $250,00 Mod bonus (hack)
30/08/2023 0xEa81D2dE2e5ec21a00a4446309651A2642EE9d8D CosmeFulanito $1.750,00 Discord mod (Aug)
30/08/2023 0x9A0965916851cD6582a8a8CDb9a1c2A1614492D6 Gleb $1.750,00 Discord mod (Aug)
30/08/2023 0x166f54F44F271407f24AA1BE415a730035637325 Dubstard $1.000,00 Discord security (Aug)
20/09/2023 0xEa81D2dE2e5ec21a00a4446309651A2642EE9d8D CosmeFulanito $1.750,00 Discord mod (Sep)
20/09/2023 0x9A0965916851cD6582a8a8CDb9a1c2A1614492D6 Gleb $1.750,00 Discord mod (Sep)
20/09/2023 0x166f54F44F271407f24AA1BE415a730035637325 Dubstard $1.000,00 Discord security (Sep)
30/09/2023 0xac0B4859EF86241d32A6A39540b34d65e9Ee7d96 Scoffie $500,00 Gas station (Dune)
03/12/2023 0x3f993093c3917Fe7A117f37cFD008775249f59c8 Gosuto $2.450,00 OpSec (hack)
Total $17.230,00