[BIP-459] Enable TetuBAL/20WETH-80BAL Gauge [Polygon]

BAL Gauges
1

PR with Payload

Summary:
The purpose of this proposal is to enable gauge for the newly created tetuBal/20WETH-80BAL with updated AMP (20 instead of 500) to align with the recommendations from the balancer core team and community. All the other parameters are the same as in the existing pool.

Previous gauge proposal

References/Useful links:

Link to:

Protocol Description:

Tetu is an asset management protocol that implements automated yield farming strategy for users.

Motivation:
To maintain tetuBal peg and attract more liquidity to the pool. It will be beneficial for both Balancer and Tetu protocols.

Specifications:

  1. Governance: Multi Sig - Tetu
  2. Oracles: No
  3. Audits: docs.tetu.io
  4. Centralization vectors: n/a
  5. Market History: Tetu token can be volatile in the certain market conditions.

Composable Stable Pool: 0x7aF62C1ebf97034B7542CcEC13a2e79BbcF34380

Gauge: 0xF6A814eD60653Cb0e36DA247B01E6309318328d4

Technical 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):0xF6A814eD60653Cb0e36DA247B01E6309318328d4
gaugeType(string): Polygon

2

Given the peg situation and tokenomics structure change happening with tetu for the time being, would you be willing to move forward with a 10% cap on this gauge? New wrappers are coming in with caps and need to prove themselves as sufficient. Currently as tetu recovers a bit it makes sense to probably at least have some sort of guard rail in place when it comes to how much emissions can be directed. Also, do you mind including in this proposal to kill the old gauge ? 2-3 weeks after the new one is added is the typical transition time.

2 Likes
3

I would like to put this gauge proposal to a vote, with the addition of a 15% max vote cap.

4

Given that [BIP-458] Enable 50GOLD/25USDC/25wstETH & 25GOLD/25BAL/25AURA/25wstETH [ARBITRUM] already commits to a cap on tutuBAL voting by humpy, it doesn’t seem required to make changes to the old gauge.

As the primary voter for the tetu pool, and a holder of over 200k veBAL, it seems totally reasonable to run this vote on Humpys request with a modified gauge cap.

@Xeonus you have the votes to post, cool with running this next week?

Moving to a lower a-factor on tetuBAL stableswap is a welcomed change that is long overdue.

5

Absolutely. Happy to finally see the changes we suggested being implemented.

6

https://snapshot.org/#/balancer.eth/proposal/0xc03dd7352c8173483424ae27196105f0ab7fd4600a4f8fa809895808faf34a93

7

Please consider all the investors currently in the pool, we will suffer a huge loss assuming everything migrate to the new A=20 Pool from A=500 pool under current pool composition. the Peg will drop from current 0.7 to roughly 0.3.

A factor change is not helping us at all.