PR with Payload
Summary:
bb-rf-usd is Reaper Boosted USD consisting of the three Reaper Boosted Linear pools for USDC, USDT and DAI. We’re using a linear pool to deposit said tokens into a Reaper Farm Multi-strategy Vault. Multi-strategy vaults are a next-generation technology designed by the Reaper team that automatically redirects and rebalances user funds to a selection of single strategies to maximize yield across the board. For reference, Reaper is an asset management service run by the Byte Masons who are talented developers in their own right.
References/Useful links:
Link to:
Reaper farm
-Website
-Docs
-Multi-strategy Docs
Protocol Description:
USDC is the dollar backed stablecoin issued by Circle. DAI is the decentralized overcollateralized stablecoin by MakerDAO. USDT is the dollar backed stablecoin issued by Tether.
Motivation:
This proposal aims to add an uncapped veBAL gauge for the Balancer Reaper Farm Boosted Pool (bb-rf-usd) on Optimism and set “core pool” status under BIP-19.
This pool uses the ComposableStablePoolFactory-v5 which fixed all the recently disclosed vulnerabilities. Using the multi-strategy vaults, this pool can maximize yield across the Optimism network. High expected yield, combined with core pool status will help drive adoption to this pool and the recycled fees will make sure it will naturally grow under the flywheel.
Specifications:
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Governance: Reaper Farm is part of the wider Byte Masons collective. They recently launched a governance framework for their Oath Ecosystem.
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Oracles: This pool only relies on the rate providers of the linear pools to inform when yield is earned.
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Audits: See here
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Centralization vectors: There are centralization risks with USDC, DAI, and USDT, though the market has clearly accepted those as minor for now. Reaper Farm is managed by the Byte Masons.
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Market History: Bespoke stable tokens have well-known market history.
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Value: We will earn the protocol fee on bb-rf-usd yield, plus trading fees. BIP-19 will incentivize TVL to continue to grow.
Link to pool: Beethoven X
Link to OP gauge: Contract Address 0x51ae6873e488115275bd9df3719c2a287f38cc85 | OP Mainnet
Link to root gauge:
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:
gauge(address): 0xE9816654a37aaBAEC2A742f1a1cE4c99D42c08D2
gaugeType(string): Optimism