Summary:
This pool uses the new weighted pool factory and contains a boosted / linear stable coin wrapper bb-rf-aUSDC - Beets Reaper Aave Boosted USDC. Stargate has been moving liquidity over to Balancer and plans to continue pursuing making Balancer their liquidity hub. STG is a governance token which must be staked to apply to Stargate’s governance in a vote escrowed fashion. Stargate focuses on cross-chain / omnibridge solutions. The protocol will be earning yield on the boosted portion of this pool, making the token pairing more efficient for both parties. This gauge would enter as a “core pool” under BIP-19, meaning protocol fees earned by this pool would be used to bribe for votes on it. See more information on bribes in the “Value” section regarding the mechanism on Optimism, they are unique compared to the other chains.
References/Useful links:
USDC: Link to:
• Website
• Documentation
• Github Page
• Communities - Coingecko link
Stargate (STG) Link to:
• Website
• Documentation
• Github Page
• Communities - Telegram link
Protocol Description:
bb-rf-aUSDC is a boosted form of USDC from Reaper’s AAVE strategy. STG is the Stargate governance token.
Motivation:
The push for layer two dominance continues on Optimism and doing so with a multichain solution team like Stargate makes sense. This pool is will support STG holders in providing a healthy destination for their governance tokens and bb-rf-aUSDC to benefit LPs, traders, and Balancer overall. This tightens the partnership with Stargate while providing optimized liquidity circumstances for all parties.
Specifications:
- Governance: Find more information about governance on Stargates’s forum. USDC is centralized and does not have a governance forum.
- Oracles: This pool only relies on the rate providers of the linear pools to inform when yield is earned.
- Audits: See here
- Centralization vectors: USDC is inherently centralized, STG can be justified here.
- Market History: See here.
- Value: We will earn the protocol fee on bb-rf-aUSDC yield. Protocol fees on Optimism were split 50% to Balancer (passively to DAO & veBAL) and 50% to BeethovenX. Until January 100% will be sent to BeethovenX per BIP-91 to stimulate L2 growth. 50% is returned as incentives on Optimism pools either via bribes or direct LM. The other half is split between funding the team and accumulating veBAL/auraBAL/vlAURA per this recent proposal. Thus emissions towards this gauge serve to help our flywheel accelerate our growth on Optimism and maintain a foothold for the long term.
Link to pool: 0x05e7732bF9ae5592E6AA05aFE8Cd80f7Ab0a7bEA
Link to gauge: 0xC02b1b15888277B54Fb4903ef3Dedf4881a8c73A