[BIP-34] Enable the 50/50 RBW/wETH Gauge on Polygon

Summary:

Laguna Games proposes to add a gauge to the RBW/wETH pool and to activate BAL emissions.

References/Useful links:

Link to:
• Website: https://www.cryptounicorns.fun/
• Documentation: Whitepaper, Medium
• Github Page: Laguna-Games · GitHub
• Discord Community: https://discord.com/cryptounicorns
• Twitter: https://twitter.com/crypto_unicorns
• Governance Forum: https://forum.cryptounicorns.fun/
• Snapshot: Snapshot

Protocol Description:

Rainbow Tokens (RBW) is the governance token of the web3 game called Crypto Unicorns on Polygon. RBW as a token is utilized both in-game and in governance. Crypto Unicorns’ growing community has cemented itself on Polygon and currently ranks #2 in the all time ranking of Polygon on OpenSea.

Motivation:

The 50/50 RBW/wETH pool functions as the official exchange and source of liquidity. Laguna Games wishes to further our synergy with Balancer while allowing for greater capital efficiency, deeper liquidity, and increased yield for the Crypto Unicorns community/liquidity providers.

Specifications:

  1. Governance: Crypto Unicorns is an interactive entertainment DAO created by Laguna Games that explores the principles of progressive decentralization. Key decisions are voted upon by sRBW (staked RBW) holders via Snapshot. As a soft governance based on votes recorded on Snapshot, implementation of approved proposals falls under Laguna Games during its early stages. We are in the process of building a fully-independent DAO with its own bylaws operated at the direction of the sRBW holders with the mission of supporting the advancement of the Crypto Unicorns community.

    About Governance
    Governance Process
    Snapshot

  2. Oracles: We do not use any other external oracles that affect the price of RBW. Chainlink Verifiable Random Function (VRF) is employed as a tamper-proof and auditable source of randomness needed to randomly choose rewards for players of Crypto Unicorns for the Dark Forest mini-game and to randomly determine the stats and parts of Unicorns when initiating in-game actions such as breeding and evolution. This, however, does not affect the price of RBW.

  3. Audits: We take security very seriously and engage in best practices across the board.

    RBW Smart Contract Audit Report

  4. Centralization vectors: Laguna Games is currently the primary development team working on the Crypto Unicorns interactive entertainment DAO. We are in the process of building a fully-independent DAO.

  5. Market History: Following a successful Snapshot vote, the Balancer pool was created on April 29, 2022 and has an all-time volume of $25,251,110 since inception. Current TVL rests at $2,533,697 as of the time of writing on July 26, 2022.

    Official Pool
    Gauge 0xd13a839bb48d69a296a1fa6d615b6c39b170096b

  6. Value: Yes.

6 Likes

All looks good. In full support!

2 Likes

In support! thanks for the proposal

3 Likes

We appreciate the detailed write-up.

There has been quite a slow draw down in TVL but somewhat expected in the current market. We are in support of this.

2 Likes

Thank you for sharing your support. We’re happy to be here!

Hello again!
If there are no disagreements, we’d like to move forward in the process.
Thank you again for the opportunity to contribute and be part of your ecosystem.

RBW did good volume when the TVL was higher, hopefully the gauge could help bring back TVL and we could offer some nice liquidity for the token. Good to see native projects interested in Balancer as well.

1 Like

Agree with the overall sentiment. I am personally more critical to enabling gauges but I don’t see any issues with this one. Especially given the overall good trading metrics over the last couple of months. Good driver of fees and liquidity on Polygon.

In support!

1 Like

https://snapshot.org/#/balancer.eth/proposal/0x71e3a7ca50a39bf521aaad05f180cf750c5d5f59a97ae6b8a793395d22390467