PR with Payload
Summary:
Activation of the liquidity mining gauge for the 50/50 Weighted ACID/WETH pool on arbitrum. The 0xACID protocol is specifically created to optimize the returns on LSD assets such as stETH, rETH, frxETH, and others, with the goal of achieving significantly higher returns than the average.
By adopting a long-term investment approach in LSD-related assets, similar to holding ETH, the protocol sustains actual returns from Ethereum nodes, among others. The protocol operates under the ETH denomination and concentrates exclusively on the growth of ETH, reflecting the team’s strong conviction in ETH’s potential for price appreciation.
References/Useful links:
Link to:
• Website: https://0xacid.com/
• Documentation: https://docs.0xacid.com/
• Github Page: GitHub - ToxinLabs/0xacid-contract
• Communities: GitBook
• Other useful links?
Protocol Description:
ACID focuses on optimizing returns on Ethereum LSTs on the Ethereum and Arbitrum chains.
Motivation:
As the Arbitrum ecosystem is expanding Balancer plans to become the home to projects large and small in the space. By Balancer playing the role of the liquidity layer on each network we move to, the more projects deployed at the base layer of Balancer makes our reach stronger. Acid will also be participating in bribing for their gauge.
Specifications:
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Governance: ACIDs governance structure can be seen here. Discussions occur in the ACID Discord, and votes are done on snapshot.
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Oracles: N/A
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Centralization vectors: Acid is a decentralized protocol. Not applicable.
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Market History: See market history from coingecko.
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Value: This pool will be a third point of liquidity for ACID. Currently they have liquidity sources on uniswap and Camelot. They will participate in bribe markets though, and as new project are expected to see a decent amount of swap volume.
Pool address: 0xCE2Da1D3e5b5e4E1913F9fF65eE029d38682d8b9
Transaction Specification:
The Balancer Maxi LM Multisig eth:0xc38c5f97B34E175FFd35407fc91a937300E33860 will interact with the GaugeAdderv4 at 0x5DbAd78818D4c8958EfF2d5b95b28385A22113Cd and call the addGauge function with the following arguments:
2% Capped Gauge:
gauge(address): 0x6ba66967B0723718d616ad5F293c2AE6d7b0FCAE
gaugeType(string): Arbitrum