This pool uses the ComposableStablePoolFactory-v3 and is composed of USDC, DAI, and USDT. Currently there is no designated pool for liqudity providers to park their stablecoin liquidity without being exposed to some form of yield/external risk. The Euler exploit showed the danger here and it is in Balancer’s best interest to not give LPs no choice but to go to another platform if they’re against boosted pools. 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. The gauge can be uncapped based on the contents being all large cap stable tokens.
USDC: Link to:
• Github Page
• Communities - Coingecko link
USDC is the dollar backed stablecoin issued by Circle. DAI is the decentralized overcollateralized stablecoin by MakerDAO. USDT is the dollar backed stablecoin issued by Tether.
Currently the 3pool architecture is being offered on Balancer only in the form of boosted pools. While boosted pools are ‘mostly’ safe, we all learned then when a black swan event such as the Euler hack occurs exposure to yield sources can be detrimental. This 3pool is meant to allow LPs to park their stables in a Balancer pool which is not exposed to these risks. Ideally this pool will still drive a large amount of trading volume through Balancer due to sizeable depth.
- Governance: USDC are centralized and does not have a governance forum. DAI is collateralized by MakerDAO.
- Oracles: N/A
- Audits: N/A
- Centralization vectors: USDC in inherently centralized through Circle.
- Market History: See USDC here .
- Value: LPs & Balancer will earn swap fees and not be exposed to any lending protocols, like the boosted pool options Balancer has. BIP-19 will incentivize TVL to continue to grow here with trading volume increasing with depth.
Link to pool: 0x79c58f70905F734641735BC61e45c19dD9Ad60bC
Link to gauge: 0x5612876e6F6cA370d93873FE28c874e89E741fB9
The DAO Multisig
0x10A19e7eE7d7F8a52822f6817de8ea18204F2e4f will interact with the AuthorizerAdaptor at
0x8F42aDBbA1B16EaAE3BB5754915E0D06059aDd75 and call performAction with the GaugeController at
0xC128468b7Ce63eA702C1f104D55A2566b13D3ABD for the target(address) argument and using 0x3a04f900 followed by the gauge address
0x5612876e6F6cA370d93873FE28c874e89E741fB9 and the corresponding gauge type for the data(bytes) argument.