[BIP-105] Enable STG/bb-a-USD Gauge [Ethereum]

BAL Gauges
1

Summary:

This pool uses the new weighted pool factory and contains a boosted / linear stable pool token bb-a-USD - Balancer’s AAVE boosted stable pool token. 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.

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-a-USD is a Balancer’s primary stable coin liquidity on mainnet, leveraging AAVE’s boosted strategy. STG is the Stargate governance token.

Motivation:

Balancer is pushing for multichain dominance across the Defi landscape and Stargate facilitates this type of initiative. This pool is will support STG holders in providing a healthy destination for their governance tokens and bb-a-USD to benefit LPs, traders, and Balancer overall. This tightens the partnership with Stargate while providing optimized liquidity circumstances for all parties.

Specifications:

  1. Governance: Find more information about governance on Stargates’s forum. USDC is centralized and does not have a governance forum.
  2. Oracles: This pool only relies on the rate providers of the linear pools to inform when yield is earned.
  3. Audits: See here
  4. Centralization vectors: USDC is inherently centralized, STG can be justified here.
  5. Market History: See here.
  6. Value: Balancer will earn the protocol fee on underlying bb-a-USD yield. The BIP-19 flywheel will incentivize TVL to continue to grow here with trading volume and Stargate will continue to build a aligned market capture strategy through Balancer on multiple chains.

Link to pool: 0x4ce0BD7deBf13434d3ae127430e9BD4291bfB61f
Link to gauge: 0x9703C0144e8b68280b97d9e30aC6f979Dd6A38d7

2 Likes
2

Vote has been posted: https://snapshot.org/#/balancer.eth/proposal/0x7b391d59d14cd34251382c1982d18564499b3e17f47ed993a1bd3188981a243c