[BIP-458] Enable 50GOLD/25USDC/25wstETH & 25GOLD/25BAL/25AURA/25wstETH [ARBITRUM]

PR with Payload


After a successful launch on Base. The GoldenBoys are expanding to Arbitrum and getting ready to launch some products on mainnet. As many of the rules around caps have been created pertaining to me. I wanted to personally propose a suggestion that I think will be a general improvement for both Balancer and the Golden Boys.

First, to mirror the implementation on Base, which has created necessary USDC/ETH and BAL liquidity on Base, we request the following 2 gauges on Arbitrum:

50GOLD/25USDC/25wstETH - 6% cap

[25GOLD/25BAL/25AURA/25wstETH] (Balancer) - 2% cap

As pools containing $GOLD are already receiving 12% of veBAL, and the tokens market cap does not warrant unlimited pools as per the gauge framework. I suggest the following compromises be made, which should increase the overall health of Balancer emissions.

  • Reduce cap on 50GOLD/25USDC/25ETH pool to 5%
  • I suggest that the 10% cap for Arbitrum Airdrop incentives be shared between the 2 pools.
    • 8% cap on the 50/25/25 pool
    • 2% cap on the 25/25/25/25 pool

Further as a show of good faith:

  • I will reduce voting on tetuBAL LP to < 15% of veBAL
  • I will reduce voting on BADGER LP to <5% of veBAL
  • I will work the Maxi’s to allocate 5% of my total veBAL towards pools that are beneficial to the ecosystem.

Upon review of the current veBAL voting situation, you will see that this outcome moves in a positive direction.

References/Useful links:

Website: humpysgold.eth.limo

Twitter: @gold_on_chain

Discord: $GOLD Official

Docs: HumpysGold · GitHub


Protocol Description:

GOLD is an early, community-driven project that is nested within the Balancer ecosystem and founded by Humpy. Presently, GOLD benefits from Humpy’s large share of Balancer Governance and has created a mutually beneficial relationship on the Base network by bringing Balancer’s Base deployment healthy trading fees and needed USDC/WETH liquidity.

We have just received a good report on the audit of a new product we will release, an Aura Autocompounding Vault, which will offer the best rates to AURA holders (which indirectly supports the Balancer community), and use a healthy portion of protocol fees to buy and burn GOLD.


The next major update to the GOLD ecosystem is the release of the GoldAURA Pounder. Aura is not on the Base network, and has focused their L2 presence on Arbitrum. Because the GoldAURA pounder will use protocol fees to buy and burn gold, this will be most efficient conducted on the Arbitrum (the L2 with Aura); furthermore, GOLD holders wish to earn Aura, which can be accomplished on Arbitrum.

By moving GOLD to Arbitrum and launching Balancer Gauges, we also have the opportunity to expand our community beyond people who are interested in the nascent Base network. New Golden Boys are often drawn to the project from outside the Balancer ecosystem. Attracting new community members to the GOLD project directly benefits Balancer as we raise awareness for the Balancer Ecosystem and provide new users for weighted liquidity pools and products like an Aura Pounder.

Moving to Arbitrum allows us to form a tighter bond with Aura and expand the Golden Boys community to the much larger audience on Arbitrum, both of which have benefit to Balancer.


  • Enable 50/25/25 - 6% cap
  • Enable 25/25/25/25 - 2% cap
  • Reduce Cap on 50/25/25 Base pool to 5%
  • Configure Arbitrum incentive caps for 50/25/25(8%) and 25/25/25/25(2%) pools in the airdrop program config.

Technical specification

Part A:
The Balancer DAO Multisig 0x10A19e7eE7d7F8a52822f6817de8ea18204F2e4f will interact with the Authorizer 0xA331D84eC860Bf466b4CdCcFb4aC09a1B43F3aE6 calling grantRole with the following arguments:
role: 0xae60dce27f51ce5815357b9f6b40f200557867f8222262a1646c005d09b7dfba
This role corresponds to setRelativeWeightCap(uint256) on mainnet gauges and can be confirmed here.

The Balancer DAO Multisig 0x10A19e7eE7d7F8a52822f6817de8ea18204F2e4f will interact with the AuthorizerAdaptorEntryPoint at 0xf5dECDB1f3d1ee384908Fbe16D2F0348AE43a9eA and call performAction with
target: 0xed0bb13496ce24EFFF8f9734A9707D092d4Be10c being the GOLD/WETH/USDC root gauge and data 0x10d3eb0400000000000000000000000000000000000000000000000000b1a2bc2ec50000 to set the cap to 5%
The Balancer DAO Multisig 0x10A19e7eE7d7F8a52822f6817de8ea18204F2e4f will interact with the Authorizer 0xA331D84eC860Bf466b4CdCcFb4aC09a1B43F3aE6 calling revokeRole with the following arguments:
role: 0xae60dce27f51ce5815357b9f6b40f200557867f8222262a1646c005d09b7dfba
account: 0x10A19e7eE7d7F8a52822f6817de8ea18204F2e4f to revoke the previously assigned role to change gauge weights.

Part B:

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

  1. gauge(address):0x86Cf58bD7A64f2304227d1a490660D2954dB4a91
    gaugeType(string): Arbitrum

  2. gauge(address):0xA8d4b31225BD6FAF1363DB5A0AB6c016894985d1
    gaugeType(string): Arbitrum


If this Gauge proposal passes, the total amount of emissions allocated to all $GOLD liquidity pools will increase from 12% to 15% - is that correct?

This includes
6% for the 50/25/25 pool on Arbitrum,
2% for the 25/25/25/25 pool on Arbitrum
5% for the 50/25/25 pool on Base
2% for the 33/33/33 pool on Base

Please confirm if my understanding is right.

I generally think that these adjustments go into the right direction and are in line with the peace treaty

It is nice to see that we can get 5% of humpy’s veBAL put to good use. The fact that we can potentially get organic growth and capture yield fee on these pools is very welcomed. The GOLD pools have been rather profitable on BASE in terms of fee capture.

To put these changes into perspective I made following comparison.


  • BAL price: 3.01$ (as of 18.10.23)
  • Weekly BAL emissions: 121929.98
  • Reaching of vote caps on existing and new GOLD gauges

Current emission schedule

Chain Gauge Vote cap Emissions (BAL)
Base GOLD/BAL/USDC 2 2438.5996
Base GOLD/WETH/USDC 10 12192.998
Polygon tetu 15 18289.497
Mainnet Badger/rETH 10 12192.998

which results in 36578.994 BAL emitted to those gauges, which corresponds to roughly 37% of all BAL emitted to those gauges.

As of today we already see a decrease in votes to the Badger pool but are using these assumptions as a baseline. You can see the current voting allocation here: https://app.balancer.fi/#/ethereum/vebal

New emission schedule

We are doing a very simple assumption by reducing overall gauge vote allocation by 5% although humpys voting power is likely less in relation to that (also in the future because of veBAL lock decay).

Chain Gauge Vote cap Emissions (BAL)
Base GOLD/BAL/USDC 2 2438.5996
Base GOLD/WETH/USDC 5 6096.499
Polygon tetuBAL 11 13412.2978
Mainnet Badger/rETH 6 7315.7988
Arbitrum GOLD/USDC/wstETH 6 7315.7988
Arbitrum AURA/BAL/GOLD/wstETH 2 2438.5996

which is an overall delta of roughly 6100 BAL.

I see following advantages:

  • Distribution of emissions to more healthy pools that generate fees to the DAO
  • reduction of tetuBAL emissions
  • 5% of humpy’s voting power available to be distributed to pools that generate fee momentum