[BIP-484] Enable 50WETH-50TAG Gauge [Base] with a 2% emission cap

BAL Gauges
1

PR with Payload

Summary:

Enable 50WETH-50TAG Gauge [Base] with a 2% emission cap

References/Useful links:

• Website: https://tag.tech/
• X: https://twitter.com/tagdottech
• Medium/Documentation: https://medium.com/@tag.tech

Protocol Description:

TagTech is a new initiative by SoFi on the Base platform, designed to empower creators to manage their communities and shape their future. The team behind TagTech combines experienced SoFi users with experts in business and blockchain technology, aiming to improve upon the existing SoFi ecosystem.

TagTech stands out by offering practical solutions to common problems:

  • Scalability: We built a dynamic bonding curve system that lets creators split their social tokens, called Tags. TagSplits create new bonding curves with double the Tags in circulation and half the Tag price, giving creators the power to scale their communities.

  • Creator freedom: Creators are the heartbeat of any SoFi platform, and they deserve more freedom and control. That’s why at TagTech we champion self-custody, so creators own their private keys and assets. This also empowers us to easily build features like TagTransfer and token reward systems to reward creators for their contributions.

  • Sniping bots: To combat sniping bots while also giving creators more freedom of choice, we added a launch feature that gives creators complete control over their Tags. Creators can choose from three options: Quick Launch for instant sales, Initial Tag Offer (ITO) for fans to determine their Tag value via an auction, or Set Starting Price by buying Tags of themselves before anyone else.

We believe that creators should have the freedom to choose what their Tag value should be.

Motivation:

After the successful launch of the pool, which generated $1.7 million in volume on its first day, we aim to further incentivize the pool to attract additional liquidity. This is expected to enhance the trading experience for users.

Specifications:

  1. Governance: Multisig 0xb848c45CD6A8342c5AE479702986ff3168716c03 has the power to mint TAG tokens with a 7-day timelock

  2. Oracles: N/A

  3. Audits: N/A

  4. Centralization vectors: Same as #1

  5. Market History: The pool was created on 2023/11/08 and has already generated $1.7M trading volume on Balancer so far.

  • Pool: 0x990a0f03c3ee397cafda61cad277de18280751fd0002000000000000000000b6
  • Gauge: 0x2C3eF846FC3B5a4820b2D3462c9300E6d8845055
  1. Value: Yes, this pool is intended to be the primary source of liquidity for TAG

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):0x2C3eF846FC3B5a4820b2D3462c9300E6d8845055
gaugeType(string): Base

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https://snapshot.org/#/balancer.eth/proposal/0x34a640cded6d8ebbab1677ad0286a32a7d2896eaffac904cd8579d5e153dccc2

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