Add gauge for the 80-BAL-20-WETH / yBAL composible stableswap pool to gauge controller
Yearn’s yBAL is Yearn’s liquid veBAL wrapper product. The yBAL system features the same mechanics as Yearn’s yCRV, but adapted to work within the Balancer ecosystem.
Users can mint yBAL tokens by locking their 80-20 BAL-WETH tokens to Yearn’s whitelisted voter (note: This action is irreversible).
Upon minting yBAL, users can stake their yBAL into st-yBAL to passively earn yield. This yield comes from all incentives earned to Yearn’s voter (e.g. bribes and protocol fees), and is automatically compounded back into yBAL increase each st-yBAL user’s position.
Incentivization to this pool will help drive liquidity for users who may wish to swap into or out of their yBAL position. We expect yBAL to increase the total locked tokens in veBAL and help users earn passive yield.
Governance: yBAL is designed to be a maximally trustless system with governance powers reserved to veYFI users. Some actions are available to the multisig, for example, to change strategies and gauge votes.
Oracles: yBAL does not depend on any oracle systems.
Audits: yBAL is a fork of yCRV which was audited by ChainSecurity link here
Centralization vectors: Similar to all other liquid wrappers, the whitelisted contract utilized by Yearn to lock veBAL is owned/operated by the protocols’ governance multisig. Yearn’s multisig has a 6 of 9 threshold with well-known members of the broader Ethereum ecosystem.
Market History: yBAL has limited history, as it is a new protocol in the process of bootstrapping. However, we can look to yCRV’s price performance in comparison of other liquid CRV wrappers. This chart from Defi Wars shows their price performance relative to the 1:1 peg
Value: This pool is intended to be the primary liquidity source for yBAL.
The Balancer Maxi LM Multisig
eth:0xc38c5f97B34E175FFd35407fc91a937300E33860 will interact with the
0x5DbAd78818D4c8958EfF2d5b95b28385A22113Cd and call the addGauge function with the following arguments: