[BIP-360] Enable GHO/bb-a-USD Gauge [Ethereum]

BAL Gauges
1

PR with Payload

Summary:

This pool uses the ComposableStablePoolFactory-v5 which addresses the reentrancy vulnerability disclosed during February 2023. This gauge is uncapped, and would enter as a “core pool” under BIP-19. This means 65% of 50% of yield generated by this pool is to be used for bribing for votes on it via Hidden Hand. The remaining 35% goes to Balancer DAO as revenue.

This proposal is for a new pool GHO/bb-a-USD to be created on Ethereum.

References/Useful links:

GHO

Protocol Description:

Aave Protocol
The Aave Protocol is a decentralized liquidity protocol that is deployed across many EVM compatible networks including but not limited to Optimism, Arbitrum, Avalanche and Polygon. Currently, the Aave Protocol has a TVL of approximately $7.8 Billion.

GHO is a decentralized multi-collateral stable coin that is fully backed, transparent and native to the Aave Protocol.

Motivation:

This proposal aims to add a veBAL gauge for GHO/bb-a-USD.

Bb-a-USD is the flagship boosted pool for Balancer.

Now that GHO has been launched on Aave V3, as shown by this proposal, it is possible to add the GHO/bb-a-USD gauge through this proposal.

Specifications:

  1. Governance:
  • AAVE and stkAAVE serve as the governance tokens for the Aave DAO. Holders can vote on proposals at both a Snapshot level and through the Aave DAO on-chain governance portal.
  1. Oracles:
  • rateProvider0 (for GHO): 0x0 (none)
  • rateProvider1 (for bb-a-USD): 0x0 (none)
  1. Audits:

Aave v3

GHO

  1. Centralization vectors:
  • Aave Governance is decentralized, and all changes must go through a transparent and well-tested governance process.
  1. Market History:
  • GHO is yet to be released by the Aave DAO.
  • Bb-a-USD has a long successful history within Balancers protocol.
  1. Value:
  • This pool is a Core Pool and therefore will generate revenue for the DAO via bb-a-USD derived yield and through swap fees.

Pool Details

Link to Pool: GHO / bb-a-USD Pool - 0xc2b021133d1b0cf07dba696fd5dd89338428225b
Link to Gauges: GHO / bb-a-USD Gauge - 0x5Db1Fe5A1652f095eBc3f6065E9DB3f3d492bfC2

Transaction: The Balancer Maxi LM Multisig eth:0xc38c5f97B34E175FFd35407fc91a937300E33860 will interact with the GaugeAdderv4 at 0x5DbAd78818D4c8958EfF2d5b95b28385A22113Cd and call the addGauge function with the following arguments:

gauge(address): 0x5Db1Fe5A1652f095eBc3f6065E9DB3f3d492bfC2
gaugeType(string): Ethereum

Disclosure:

This proposal is the sole work of Matthew Graham and Dydymoon from Tokenlogic. This proposal has been funded via the Butter Delegation Campaign.

Details on TokenLogics delegation platform can be found here.

Disclaimer

The GHO token will not launch until this weekend, but we would like to support Aave in a smooth and rapid launch. Therefore, the payload in its current form is incomplete. This BIP will become obsolete in the event if the pool and gauge specifications are not added to the payload by July 17th 2023, 08:00 PM CET and successfully completes the Balancer Maxi review cycle.

A no vote will be considered a vote against the process, not the pools, and the votes will be rerun next week with a complete spec.

1 Like
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https://snapshot.org/#/balancer.eth/proposal/0xd78253a6c7ed68cffebd6abb9bd316178d7921284400697e8b00000ef370a468