[BIP-466] Enable mevETH/WETH gauge [Ethereum]

PR with Payload


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.

References/Useful links:

• 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

Protocol Description:

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.


  1. Governance: 5/8 multisig address: 0x617c8dE5BdE54ffbb8d92716CC947858cA38f582. It has the power to upgrade the contracts & modules.

  2. Oracles: N/A

  3. Audits:

  1. Centralization vectors: No. Same as describe in the governance.

  2. Market History:

  • Pool: 0xb3b675a9A3CB0DF8F66Caf08549371BfB76A9867
  • Gauge: 0x70754AB20c63cc65Ea12206CF28342723d731aC6
  1. 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:
gaugeType(string): Ethereum

Additionally, this pool is requesting core pool status as per BIP-457


Happy to see another LSD entering the Balancer ecosystem. The rate provider used for mevETH was reviewed by the integrations team and full report can be seen here. The summary judgement deemed the rate provider safe enough for the use case, with minimal risk related to it.


And we would like to add another pool for 80mevETH-20FOLD in the governance post with the expectation of doing a new feature against slashing akin to Aave Safety Module