PR with payload
Summary:
This proposal is meant to provide a liquidity gauge for a classic pairing of WETH and the vanilla 3pool containing three core stable coins in Defi, USDC, DAI, and USDT. The reason behind this pool receiving a gauge is to have a place for liquidity providers who are not comfortable with taking on risk in yield bearing pools such as boosted stable and LSD pairings. This will be a core liquidity pool for Balancer for users who are interested in simpler pool configurations.
References/Useful links:
USDC: Link to:
• Website
• Documentation
• Github Page
• Communities - Coingecko link
Protocol Description:
WETH we all know and love, wrapped Ethereum. 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.
Motivation:
Mainly due to the Euler exploit proving boosted stable pools and the nesting of said boosted pools with asset pairings can have cascading risks, it is in Balancer’s best interest to incentivize LPs in both the new tech that was developed, and the less complex options. This will ensure LPs of different profile styles have a place to park liquidity on Balancer and ultimately will drive up TVL and fees in theory.
Specifications:
- Governance: USDC are centralized and does not have a governance forum. DAI is collateralized by MakerDAO. USDT carries it’s own risks belonging to Tether.
- 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: 0x08775ccb6674d6bDCeB0797C364C2653ED84F384
Link to gauge: 0xD9cde95eFeD2d426F2741E2c44De9573116B8F07
Specification
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 0xD9cde95eFeD2d426F2741E2c44De9573116B8F07 and the corresponding gauge type for the data(bytes) argument.
data(bytes) : 0x3a04f900000000000000000000000000D9cde95eFeD2d426F2741E2c44De9573116B8F070000000000000000000000000000000000000000000000000000000000000002