PR with Payload
Summary:
We request adding frxETH/sfrxETH metastable pool on optimism to BAL gauge
References/Useful links:
Link to
• Website
• Documentation
• Github Page
• Communities
Protocol Description:
frxETH is Frax’s wrapped ETH token and sfrxETH is its staked interest bearing version
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 here
- 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: Beethoven X | Fraximalist Ethereum
Link to child gauge: Contract Address 0xc46AB6Aa92F7c30B8Fb1D445b4B957203EbBbd6e | OP Mainnet
Root gauge: OptimismRootGauge | Address 0x5622821A3b993f062Ff691478Bbb7d551c167321 | 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):0x5622821A3b993f062Ff691478Bbb7d551c167321
gaugeType(string): Optimism
Additionally, this pool is requesting core pool status as per BIP-457