[BIP-231] Enable USDC-TNGBL 20-80 Gauge with a 2% Emission Cap [Polygon] [second vote]

BAL Gauges
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PR with payload

Summary:

Enable gauge on the TNGBL-USDC 80-20 pool

References/Useful links:

• Website

• Documentation

• Github Page

• Communities

• Twitter

Protocol Description:

Tangible is an RWA tokenization protocol, that already has several gauges for the protocol’s stablecoin USDR.

Motivation:

Tangible’s governance token TNGBL is a core part of the protocol, with all marketplace fees accruing to the token. In addition to having a claim on 10% of USDR seigniorage.

We have been building up protocol owned liquidity in the 80-20 TNGBL-USDC pool on Polygon and believe now it would be beneficial to add additional incentives via a gauge. This will be the main home for TNGBL liquidity on-chain.

Specifications:

  1. Governance: TNGBL token holders can lock their TNGBL tokens and receive veNFTs that represent their locked tokens. These NFTs will grant holders governance rights. (Full governance launching soon)
  2. Oracles: N/A
  3. Audits: Audits - Tangible
  4. Centralization vectors: Governance upcoming.
  5. Market History: Tangible has been tokenizing RWAs for over 18 months and the TNGBL token has been live for almost 12.
  6. Value: Adoption and usage of Balancer’s novel 80-20 pools as the main location for TNGBL liquidity.

pool id: 0x9f9f548354b7c66dc9a9f3373077d86aaaccf8f2000200000000000000000a4a
pool address: 0x9f9f548354b7c66dc9a9f3373077d86aaaccf8f2
pool streamer: 0xeF4582dA362e4a1DaB5BC97501Db6D7C0396bC61
gauge: 0x43E4bE3A89985c4f1fCB4c2D3bd7e6E0C5df42D3

1 Like
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https://snapshot.org/#/balancer.eth/proposal/0xcb86b4c23e556ab048e3636f45d2b9d65e84f7a2a0971d9a34b9570e5a209f51

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As this didn’t quite reach quorum last week, wanted to add a bit more color before another vote in the next cycle.

This gauge will help build deep liquidity for TNGBL which ultimately helps support the other 2 gauges Tangible has on Balancer for USDR, as 10% of USDR market cap can be minted with TNGBL.

In addition to this if this gauge passes vote Tangible will be incentivizing vlAURA voters with bribes as we do for USDR gauges.

1 Like
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Revote, as requested: https://snapshot.org/#/balancer.eth/proposal/0xaeaa64d5caccd822bce192ea7463d6ade32883922753cc99382ee63934c27988