[BIP-302] Enable 80ARCH20wETH Gauge w/ 2% emissions cap [Ethereum]

BAL Gauges
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Summary:
This proposal aims at enabling BAL emissions into 80ARCH20WETH to incentivize liquidity and scale the ARCH token in an efficient way.

References/Useful links:
• Website
• Documentation
• Github Page
• Discord
• Twitter

Protocol Description:
Archimedes Finance is a novel lending and borrowing marketplace. It is designed to a) attract capital by offering top of market native and sustainable real yield to lenders, b) allow borrowers to create leveraged positions of up to x10 on yield-bearing strategies, and c) enable partner protocols to attract sustainable long-lasting capital.

The project is currently starting its Governance process and the 80ARCH20WETH Balancer Pool [Balancer] is a critical piece of this process as the best option to deepen liquidity of ARCH, the project’s governance and utility token.

The Archimedes Core team is currently focusing on developing its V2, which will include:

  1. New yield strategies besides LP and Leverage
  2. Liquidity solution for leverage partners
  3. Additional utility for ARCH
  4. Potentially new chains, such as Arbitrum

Motivation:
Archimedes needs a liquidity pool with it’s governance token to support Governance while also improving its liquidity and tokenomics. Balancer 80/20 Pools are a great efficient way to scale liquidity and incentives are will help bootstrap liquidity.

Specifications:

  1. Governance: Find more about our Governance process

  2. Oracles: N/A - no Oracles currently

  3. Audits: We currently perform recurring audits with Halborn Security and publish audit results in user docs

  4. Centralization vectors: Archimedes has timelocks and access control mechanisms enabled by a 2/4 Multisig. The process may change based on Governance proposal approval.

  5. Market History:

  • The ARCH token has been actively trading since February 2023. ARCH value has increased significantly compared to it’s launch price and is currently trading at ~$6.50.
  • ARCH is currently trading on Uniswap V2 ARCH/USDC pool with ~$310K of liquidity and a total of ~$35K fees. There are no Gauges live for ARCH pool.
  1. Value: This pool will be the primary source of liquidity for ARCH paired with wETH.

The Balancer Maxi LM Multisig eth:0xc38c5f97B34E175FFd35407fc91a937300E33860 will interact with the GaugeAdderv3 at 0x5efBb12F01f27F0E020565866effC1dA491E91A4 and call the addEthereumGauge function with the following argument:

0x69F1077AeCE23D5b0344330B5eB13f05d5e410a1 which corresponds to the 2% capped gauge for this pool.

1 Like
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Do you have any intentions of placing bribes on this pools gauge? Also is the gauge currently deployed and can you share the address? If you need help look here.

1 Like
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Hi! Thanks for your proposal!

I have a few questions:

  • Do you guys have any plan to implement a voting incentive? (echoing previous comment). Maybe using Aura?
  • Any hint of what would be the liquidity of this pool? larger than the current one on Uniswap?
  • Any plans of bringing the stablecoin pool (lvUSD) to balancer too :smile:?

Thanks!

2 Likes
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Thanks @ZenDragon! We have developed the Gauge here

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So answering both @jameskbh and @ZenDragon on the other questions:

  1. We’ll start without voting incentives, but for very much likely later.
  2. Liquidity size will not be larger than Uniswap at the beginning, but we want to focus on this pool as our main pool going forward and will deepen liquidity over time.
  3. In the future, potentially :slight_smile:

Please let us know if there are other questions! Thanks for the support, guys!

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https://snapshot.org/#/balancer.eth/proposal/0x1aa212139d722754263a6f64806f9b6bc9019f8a6adfd33765c411432ee67eab