# \[BIP-284\] Enable wbETH/wstETH Gauge \[Ethereum\]

**URL:** <https://forum.balancer.fi/t/bip-284-enable-wbeth-wsteth-gauge-ethereum/4732>\
**Category:** BAL Gauges\
**Created:** [May 4, 2023, 12:24pm UTC](https://forum.balancer.fi/t/bip-284-enable-wbeth-wsteth-gauge-ethereum/4732 "2023-05-04T12:24:48Z")\
**Posts on this page:** 2\
**Page:** 1

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**Author:** ![ZenDragon](https://yyz1.discourse-cdn.com/flex027/user_avatar/forum.balancer.fi/zendragon/32/1542_2.png) [@ZenDragon](https://forum.balancer.fi/u/ZenDragon)\
**Post date:** [May 4, 2023, 12:24pm UTC](https://forum.balancer.fi/t/bip-284-enable-wbeth-wsteth-gauge-ethereum/4732/1 "2023-05-04T12:24:48Z")

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> <https://github.com/BalancerMaxis/multisig-ops/pull/172>

**Summary:**

> This pool uses the composable stable pool factory and contains two liquid staking derivatives of ethereum, wbETH and wstETH. The reason for this pool deployment is to include Binance’s beacon ETH token in the Balancer ecosystem. Pairing with wstETH will add additional yield for LPs and Balancer as opposed to WETH. This pool is a win win for all parties. The pool will be included as core pool meaning the revenue it earns will be recycled as bribes as described in [BIP-19](https://forum.balancer.fi/t/bip-19-incentivize-core-pools-l2-usage/3329).

**References/Useful links:**

> (wbETH) Link to:  
> • [Website](https://www.binance.com/en/wbeth)  
> • [Documentation / FAQ](https://www.binance.com/en/support/faq/what-is-wbeth-e252366155174ba6887f6b32e3798273)  
> • [Communities](https://discord.gg/jE4wt8g2H2)  
> (wstETH) Link to:  
> • [Website](https://stake.lido.fi/)  
> • [Documentation](https://blog.lido.fi/)  
> • [Github Page](https://github.com/lidofinance)  
> • [Communities](https://www.coingecko.com/en/coins/lido-dao)

**Protocol Description:**

> wbETH is Binance’s liquid staking derivative for ethereum, while wstETH is Lido’s wrapped staking derivative as featured in many other Balancer pools.

**Motivation:**

> Described in the summary, Balancer should welcome more LSDs into the ecosystem based on the mutual benefits they bring to LPs and the ecosystem.

**Specifications:**

1. **Governance:** [wbETH]([https://www.binance.com/en/support/faq/what-is-wbeth-e252366155174ba6887f6b32e3798273](https://www.binance.com/en/support/faq/what-is-wbeth-e252366155174ba6887f6b32e3798273) FAQ linked as governance is not applicapable, [wstETH](https://research.lido.fi/).
2. **Oracles:** See each rate provider contract linked here respectively [wbETH](https://etherscan.io/address/0xdE76434352633349f119bcE523d092743fEF20E9#code), [wstETH](https://etherscan.io/address/0x72D07D7DcA67b8A406aD1Ec34ce969c90bFEE768),
3. **Audits:** See [wstETH](https://github.com/lidofinance/audits).
4. **Centralization vectors:** wbETH is from Binance and therefore inherently has centralization risks. For Lido and wstETH please read [here](https://lido.fi/faq).
5. **Market History:** See [wbETH](https://www.coingecko.com/en/coins/wrapped-beacon-eth) , [wstETH](https://www.coingecko.com/en/coins/wrapped-steth)
6. **Value:** Balancer will earn the protocol fee on all assets in the pool and so will LPs. The BIP-19 flywheel will incentivize TVL to grow here with trading volume and our staked ethereum pillars will continue to have Balancer as their ideal liquidity destination.

Link to pool: [0x2E848426AEc6dbF2260535a5bEa048ed94d9FF3D](https://etherscan.io/address/0x2E848426AEc6dbF2260535a5bEa048ed94d9FF3D)  
Link to uncapped gauge: [0xd1c070eBc7Ec77f2134b3Ef75283b6C1fb31a157](https://etherscan.io/address/0xd1c070eBc7Ec77f2134b3Ef75283b6C1fb31a157#readContract)

**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 `0xd1c070eBc7Ec77f2134b3Ef75283b6C1fb31a157` and the corresponding gauge type for the data(bytes) argument.

data(bytes) :

`0x3a04f900000000000000000000000000d1c070ebc7ec77f2134b3ef75283b6c1fb31a1570000000000000000000000000000000000000000000000000000000000000002`

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<div class="post-metadata">

**Author:** ![solarcurve](https://yyz1.discourse-cdn.com/flex027/user_avatar/forum.balancer.fi/solarcurve/32/1487_2.png) [@solarcurve](https://forum.balancer.fi/u/solarcurve)\
**Post date:** [May 4, 2023, 3:46pm UTC](https://forum.balancer.fi/t/bip-284-enable-wbeth-wsteth-gauge-ethereum/4732/2 "2023-05-04T15:46:34Z")

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[https://snapshot.org/#/balancer.eth/proposal/0x466a0673951b0f6a6fb75989e4e4bcfd6641f33a2089ef71e67f113159dc651b](https://snapshot.org/#/balancer.eth/proposal/0x466a0673951b0f6a6fb75989e4e4bcfd6641f33a2089ef71e67f113159dc651b)