PR with Payload
Summary:
Proposal to add gauge support for the newly created BetSwirl 80/20 BETS/wstETH.
References/Useful links:
Link to:
• Website https://www.betswirl.com
• Documentation https://documentation.betswirl.com
• Github Page BetSwirl · GitHub
• Communities Discord & Telegram
• Other useful links? Dune, Token Terminal, DefiLlama
Protocol Description:
BetSwirl aims to be the web3 casino where users owns a share of the house, and are rewarded a share of its revenue (30%) via the BETS token.
The historic price prior to the migration is shown on the initial QuickSwap LP or on CoinGecko (CoinMarketCap update is pending).
Motivation:
Due to the Multichain issue, we’ve recently migrated to BETS v2 (same contract address on Ethereum, Arbitrum, BNB Chain, Avalanche and Polygon). And to address BETS v1 liquidity fragmentation (we had 4 LP on each chains), we migrated 100% of BetSwirl’s Owned Extractable Liquidity (from Polygon, Arbitrum, BNB Chain and Avalanche) to this pool on Balancer Ethereum.
We’d like Core Pool incentives because the pool is paired with 20% wstETH (with a rate provider) and we are providing direct ETH incentives on our 80BETS/20wstETH Staking pool. A 2% capped gauge would be appropriate for now given our AUM.
Specifications:
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Governance: BetSwirl isn’t in DAO mode yet, but we’re investigating the ways to transition. BetSwirl’s treasuries multi-sigs (Ethereum, Arbitrum, Avalanche, BNB Chain and Polygon) are owning all contracts (BETS, Bankrolls, Games, Dividends, Staking). Signers from the core team are Romuald, Nato, Addy and GFK.
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Oracles: Relying on Chainlink VRF for the games of chance.
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Audits: GitHub - BetSwirl/Smart-Contracts: BetSwirl's smart-contracts source and documentation
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Centralization vectors: The core team is responsible to dispatch the staking rewards.
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Market History: BETS v1 TGE was 2022-03-15T00:00:00Z. Volatility on BETS v1 was due to our liquidity being fragmented ($200k of extractable liquidity was dispatched across 4 chains on 50/50 pairs). BETS v1 Trading Volume (for July $1.4m) and Market Cap ($3.5m) can be seen on Token Terminal’s page. The new 8020 Balancer pool is live since 2023-07-28T00:00:00Z with $1m of total liquidity. So far only $92k of volume. The Gauge has been created.
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Value: This pool is intended to be the primary source of liquidity for the token:
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): 0x2Dc55e84bAF47296c2cf87B4eC3eb66fD7665611
gaugeType(string): Ethereum