PR with Payload
Summary:
This is a proposal to enable BAL gauge for BEETS 80 / rETH 20 pool on optimism with 2% emission cap
References/Useful links:
Link to:
• Website https://op.beets.fi
• Documentation https://docs.beets.fi/
• Github Page beethovenxfi · GitHub
• Communities https://discord.gg/kbPnYJjvwZ
• Twitter https://twitter.com/beethoven_x
Protocol Description:
Beethoven X is a friendly fork of Balancer originated from Fantom back in 2021, and has been an essential part of the Balancer. It has been co-operating the Balancer deployment on optimism since 2022. $BEETS is the governance token of Beethoven X; on optimism, the token is bridged by Layerzero as a OFT.
Motivation:
This is to establish $BEETS liquidity on optimism. $BEETS token (the old multichain bridged version) has been used to incentivize liquidity through direct emission and voting incentives on optimism. The $BEETS token has recently been migrated to the Layerzero bridged version due to the multichain incidence (see governance vote). Hence, moving on the layerzero bridged version will be used. The pool will facilitate trading and holding of $BEETS on optimism.
Specifications:
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Governance: The BEETS governance is through maBEETS on fantom.
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Oracles: No
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Audits: BeethovenX is a friendly fork of Balancer and has been independently audited.
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Centralization vectors: No
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Market History: $BEETS token has a history for more than 2 years and is a well established token.
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Value: This pool will be the primary liquidity of $BEETS on optimism. The pairing with interest bearing $rETH would also earn protocol fees for Balancer.
Pool address: Beethoven X | Roast Beets
Child gauge: Contract Address 0x53bFf7a10181E4Fa2a92011dE9816220E0DaDd41 | OP Mainnet
Root gauge: OptimismRootGauge | Address 0x20D03f9D0304744891881e6ac1D45b996e7F39B5 | Etherscan
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):0x20D03f9D0304744891881e6ac1D45b996e7F39B5
gaugeType(string): Optimism