PR with Payload
Summary:
This is a proposal to enable the gauge on Arbitrum for the wstETH / 4 weighted pool. As Balancer doubles down on the Arbitrum ecosystem with the updated airdrop incentives program, it makes sense for Balancer to have a liquidity route between stable coins and wstETH. This will facilitate a path for trades to be routed through and as the pool TVL grows, more swaps will be sent to Balancer through aggregators.
Protocol Description:
wstETH, is Lido’s wrapped staked Ethereum. USDC is the dollar backed stablecoin issued by Circle (USDC.e being the bridged version and USDC native version on optimism). 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 wstETH/4Pool (USDC-USDT-DAI-USDC.e) on Arbitrum, and request “core” pool status.
Specifications:
- Governance: Not applicable.
- Oracles: No.
- Audits: Not applicable.
- Centralization vectors: There are centralization risks with USDC, DAI, and USDT, though the market has clearly accepted those as minor for now.
- Market History: Bespoke stable tokens have well-known market history.
- Value: We will earn the protocol fee on trading. BIP-19 will incentivize TVL to continue to grow.
Pool: 0xA1a8bf131571A2139FEB79401aA4A2E9482Df627
Gauge: 0xa8Bb331a84032b156E5c670152A5Bd48f5DeC784
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): 0xa8Bb331a84032b156E5c670152A5Bd48f5DeC784
gaugeType(string): Arbitrum