Proposal to add gauge support for a newly created wstETH/ACX pool on Ethereum.
The Across team and community have decided to coordinate around using Balancer as the primary liquidity hub, want to establish strong initial liquidity, and keep the Balancer pool as the core liquidity–as well as encourage communities to be long term LPs. In addition to the Across treasury providing some native ACX rewards to LPs, we are optimisticly establishing this gauge and enabling Balancer and Aura emissions will help this become a strong sustainable liquidity solution for the protocol and community.
• Website https://across.to/
• Documentation https://docs.across.to/
• Github Page Across Protocol · GitHub
• Communities Across Protocol
• Other useful links? https://twitter.com/AcrossProtocol
Across is an optimistic insured bridge that relies on a decentralized group of relayers to fulfill user deposit requests from EVM to EVM networks. Relayer funds are insured by liquidity providers in a single pool on Ethereum and refunds are processed via the UMA Optimistic Oracle.
Designed by the engineers who built UMA, Across was the result of approaching bridging not only as a technical concern but as a financial engineering concern.
Across’ goal is to become the most-used bridge in Web3. Previously we have listed BAL as a bridgeable asset on Across and this is another step in strengthening the relationship between the two protocols. In addition, this pool is intended to be the primary source of liquidity for Across and its ACX token. Overall, this will further the relationship between protocols and create a great liquidity solution for Across.
Governance: The Across governance model can be found here: Governance Model - Across Docs. The current multi-sig setup will be replaced with an optimistic governance tool that was created by UMA and Snapshot in the next few months, provided that it is in production as planned.
Oracles: Across is secured by UMA’s optimistic oracle. More information can be found here: How does UMA's Oracle work? - UMA Protocol
Centralization vectors: Across’s rebalancing is done by a bot that is run by the foundation. Presently the bot is not profitable to run, so we would not expect anyone else to run it. However, there is no chance of money being inaccessible as a result of the bot stopping–Just that the bridge would run less efficiently.
Otherwise, no other centralization vectors listed apply to Across.
5. Market History: ACX has recently launched and doesn’t have much market history at this time. Gauge address is 0x89F65570Ac019f86E145c501023e2ef7010D155B. Pool address is 0x798b112420AD6391A4129Ac25eF59663a44C88bB.
- Value: This pool intended to be the primary source of liquidity for Across and the ACX token. In addition, Across sees value in alignment with others in the ecosystem and sees potential and value in doing so with Balancer