This is a proposal to enable a Balancer gauge for mevETH/WETH Gyro pool on Balancer Ethereum.
The objective of this proposal is to enable this pool to be eligible for BAL incentive distribution, thereby enhancing liquidity on Balancer. This will facilitate users in swapping mevETH, an ETH Liquid Staking Asset, for ETH
We hope that this pool can also be qualified as a Core pool.
• Website: https://www.mev.io/ • Documentation: https://docs.mev.io/ • Github Page: https://github.com/manifoldfinance • X: https://twitter.com/mevdotio • Discord: https://discord.gg/mevprotocol • Medium: https://medium.com/@mevdotio
The MEV Protocol is a collaborative innovation designed to revolutionize Ethereum’s network security and decentralization. It is forged by the pioneers of the first ETH staking service and notable figures in Ethereum infrastructure. The protocol introduces mevETH, a Liquid Staking Token (LST), aimed at optimizing value for validators.
The MEV Protocol’s approach harnesses relayers, block proposers, and block builders to enhance the MEV supply chain. Reward avenues encompass the validator base fee, LP incentives, and the multiple auction winners previously discussed. Additional reward developments are on the horizon…
Transparency and fairness in block validation are offered through a variety of options, allowing validators to decide who receives the rights to their blocks. The protocol recognizes that such crucial decisions should not be monopolized by a single organization in private.
mevETH has over 28,000 ETH staked in it and has been receiving rewards since mid-August.
The pool is an Elliptic Concentrated Liquidity Pool (E-CLP). E-CLPs are custom pools from Gyroscope, built on top of Balancer’s pool architecture. They facilitate trading along the curve of an ellipse. This type of pool is ideally suited for liquid staking tokens. It is typically more capital-efficient and could thus generate significant trading volume.
Governance: 5/8 multisig address: 0x617c8dE5BdE54ffbb8d92716CC947858cA38f582. It has the power to upgrade the contracts & modules.
Centralization vectors: No. Same as describe in the governance.
- Pool: 0xb3b675a9A3CB0DF8F66Caf08549371BfB76A9867
- Gauge: 0x70754AB20c63cc65Ea12206CF28342723d731aC6
- Value: The pool is intended to be the one of the primary sources of liquidity
The Balancer Maxi LM Multisig eth:
0xc38c5f97B34E175FFd35407fc91a937300E33860 will interact with the GaugeAdderv4 at
0x5DbAd78818D4c8958EfF2d5b95b28385A22113Cd and call the addGauge function with the following arguments:
Additionally, this pool is requesting
core pool status as per BIP-457