PR with Payload
Summary:
We request adding FRAX/sfrxETH 50/50 weighted pool on optimism to BAL gauge
References/Useful links:
Link to
• Website
• Documentation
• Github Page
• Communities
Protocol Description:
Frax is a stable coin issued by Frax and sfrxETH is a Frax’s staked wrapped ETH token
Motivation:
As a joint effort with FRAX and Beethoven X, we aim to increase liquidity of FRAX, sFRAX, frxETH, sfrxETH, to make Balancer a liquidity hub for frax assets on optimism. The BAL gauge will facilitate the process.
Specifications:
- Governance: FRAX governance process can be seen here and their snapshot here.
- Oracles: Rate provider contract for sfrxETH, the pool does not rely on additional oracles.
- Audits: See here
- Centralization vectors: see here.
- Market History: See FRAX and sfrxETH
- Value: Balancer will earn the protocol fee on interest bearing sfrxETH in the pool and so will LPs. The BIP-19 flywheel will incentivize TVL to grow here with trading volume and our staked ethereum pillars will continue to have Balancer as their ideal liquidity destination.
Link to pool: https://op.beets.fi/pool/0x478980c67d53cd990f2b7bab311ddc9934324e7b00020000000000000000010c
Link to child gauge: Address: 0x317e0451...7f5Fe84e5 | OP Mainnet Etherscan
Link to root gauge: Address: 0x057e7b14...7564D4e6C | Etherscan
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):0x057e7b14DC461f071958e0BbF42b5597564D4e6C
gaugeType(string): Optimism
Additionally, this pool is requesting core pool status as per BIP-457