End of an era.
As presented on our Q4 funding request, we regret the great @solarcurve left us this past month, asking for a time off the Balancer Maxis. He says he’ll be around, but just not as active. “O Captain! My Captain!” It was a pleasure to have you lead our ranks, and we look forward to the day you return.
September was a busy month, trying to better understand our roles and figuring out new dynamics for internal operations. You can see more about that here, when we addressed our “Updated Scope and Mandate”.
In the eye of the storm, Maxis played key roles with the security incidents (linear pools hack and DNS attack), also working closely with affected users, community members and governance, to reach consensus around restitutions. For reference, please check BIP-443, BIP-445 and BIP-XXX.
On the LM multisig, we advanced on several automations processes, including core pools incentives (BIP-19) and the ARB incentives program. To continue our activity on Arbitrum and competitiveness, alongside the Ballers, the Maxis have secured Arbitrum’s STIP (Short-Time Incentives Program), looking at another 1,2M ARB tokens to incentivize liquidity on core pools, ve80/20 and innovative Balancer tech on said chain. Kudos to @glebshumakov and @burns for helping us push this one through the finish line!
Speaking of L2s, we continue to monitor growth on Base and Avalanche, seeing them reach >24mio TVL
As part of their grant, @ZenDragon and @Xeonus have been working on making Balancer smart contracts and their permission sets more accessible. They are building on top of previous work from @Tritium to provide an intuitive UI to navigate Balancer’s v2 vast set of smart contracts and active permissions. The new features will soon launch on Defilytica.tools. These features are particularly handy for the Maxis and DAOs who work or interact with these permission sets.
A small sneak peek
Additionally, @Xeonus was assisting the SDK team in testing and troubleshooting new API endpoints that will make it easier to fetch pool states including BAL and other token APRs. Furthermore, we worked close together with partners to migrate to a new endpoint to fetch active voting gauges.
On another topic: @Danko8383 planned the Balancer ONsite in Milan, so that DAO/SPs contributors could meet irl with Balancer Labs as well. This time, we were much more focused on the protocol, some needed retrospectives and what the DAO and the product could improve moving forward. The meeting rooms were always busy, and we managed to get the team together for some cool escape room experiences, bike rides and food tours. We also took the opportunity to go around ETH Milan, engage with partners and handout some Balancer swag.
Multiple Balancer contributors meet irl for the ultimate nerd talk
Here are the bullet point updates for September. For reference, please review [BIP-347] which funded the Balancer Maxis for Q3/2023.
- Three protocol fee distributions took place for a total of $650k (voting incentives, Treasury, veBAL). Fees and core pool incentives (BIP-19) detailed stats here.
- Automation and operation of governance and the multisigs continues - see the Maxi GitHub for more info.
- [BIP-424] Add Initial Avalanche & Base Gauges
- [BIP-422] Wire up Weighted Pool Permissions on Avalanche
- [BIP-429] Adjust Arbitrum Airdrop Co-incentives Program (BIP-322) Distribution
- [BIP-430] Enable Layer Zero Cross Chain Boosts on Base
DAO Dev Work
- Provided feedback for integration testing of new API endpoints that will be used by partners and the FE team in the future
- A complete governance map showing all smart contract relationships
- Close work with partners to migrate endpoint for active voting gauges