# \[BIP-506\] Enable 80MIMO/20WETH Gauges with a 2% cap (Ethereum & Polygon PoS) **URL:** \ **Category:** BAL Gauges\ **Created:** [December 8, 2023, 12:11pm UTC](https://forum.balancer.fi/t/bip-506-enable-80mimo-20weth-gauges-with-a-2-cap-ethereum-polygon-pos/5407 "2023-12-08T12:11:09Z")\ **Posts on this page:** 2\ **Page:** 1
**Author:** ![JeanBrasse](https://yyz1.discourse-cdn.com/flex027/user_avatar/forum.balancer.fi/jeanbrasse/32/2069_2.png) [@JeanBrasse](https://forum.balancer.fi/u/JeanBrasse)\ **Post date:** [December 8, 2023, 12:11pm UTC](https://forum.balancer.fi/t/bip-506-enable-80mimo-20weth-gauges-with-a-2-cap-ethereum-polygon-pos/5407/1 "2023-12-08T12:11:09Z")
### PR with Payload > > > \- add MIMO-WETH gauges with a 2% cap to Mainnet and Polygon > \- Tenderly-sim: htt…ps://dashboard.tenderly.co/public/safe/safe-apps/simulator/9934a641-667d-4f88-8a98-f5ca0ce4f315 # Summary: Enable Balancer gauges for 80-MIMO/20-wETH weighted pools with a 2% cap on Ethereum and Polygon PoS. MIMO is the Governance Token of both Parallel and KUMA Protocol. wETH is a wrapped version of ETH, the native coin of the Ethereum blockchain References/Useful links: # Parallel Protocol: Link to: - Websites: [https://mimo.capital/](https://mimo.capital/) - Documentation: [https://docs.mimo.capital/parallel-protocol/](https://docs.mimo.capital/parallel-protocol/) - Code: [GitHub - mimo-capital/mimo-defi](https://github.com/mimo-capital/mimo-defi) - Social: [https://twitter.com/mimo\_labs](https://twitter.com/mimo_labs) & [https://twitter.com/ParallelMoney](https://twitter.com/ParallelMoney) - Audits: [Quantstamp - Public Security Assessments](https://certificate.quantstamp.com/full/ten-x-titan) # KUMA Protocol: Link to: - Websites: [https://mimo.capital/](https://mimo.capital/) - Documentation: [Introduction | Kuma Protocol](https://docs.kuma.bond/kuma-protocol/) - Code: [GitHub - code-423n4/2023-02-kuma](https://github.com/code-423n4/2023-02-kuma) - Social: [https://twitter.com/mimo\_labs](https://twitter.com/mimo_labs) & [https://twitter.com/KumaProtocol](https://twitter.com/KumaProtocol) - Audits: [Security & Audits | Kuma Protocol](https://docs.kuma.bond/kuma-protocol/ressources/security-and-audits) # Protocol Description: ## KUMA The KUMA Protocol results from the work of two distinct organizations: Mimo Capital AG and the KUMA Protocol. - Mimo Capital AG, a Liechtenstein regulated and licensed company, audited by [Grant Thornton](https://www.grantthornton.global/en/) issues tokens backed by bonds (KUMA NFTs) using NFT technology (underlying bonds are held by [Bank Frick & Co. AG](https://www.bankfrick.li/en)) to authorized individuals/companies (KYC/KYB). - The KUMA Protocol is a decentralized entity governed by vMIMO token holders that leverages these NFTs and issues KUMA interest-bearing tokens (KIBTs), which are freely transferable erc-20 tokens. These interest-bearing tokens behave similarly to stablecoins whose balance increases automatically. Currently, 3 KIBTs are deployed on Ethereum, Polygon PoS, Mantle & Linea: - FRK, a KUMA Interest-bearing token backed by KUMA NFT, themselves backed by 360 days French T-Bills. (± 3,35% APR) - USK, a KUMA Interest-bearing token backed by KUMA NFTs, themselves backed by US 12 months T-Bills. (± 4,5% APR) - EGK, a KUMA Interest-bearing token backed by KUMA NFT, themselves backed by 740 days Next.e.GO Mobile SE Corporate Bonds. (± 8,75% APR) ### Parallel Protocol The Parallel Protocol (prev. Mimo Protocol) is a Collateralized Debt Position (CDP) protocol deployed on Ethereum, Polygon and Fantom. Stablecoins (PAR & paUSD) are decentralized (controlled by vMIMO holders), non-custodial, overcollateralized, and fully redeemable synthetic asset pegged to the Euro/USD fiat currency. # Motivation: The role of the 80-MIMO/20-wETH pools is to become our main hub of liquidity on Ethereum and Polygon PoS. The Parallel DAO [voted](https://gov.mimo.capital/t/mgp-16-restructure-mimo-token-liquidity-incentives-on-ethereum-and-polygon-pos/313/3) to incentivize people to vote for the gauge to increase the liquidity and attract more users in order for this pool. ### A few notes: - Mimo Labs has started building [positions](https://debank.com/profile/0x4a266739E40664e80470CC335120a2A1fA0B3F3f) in AURA (310k $vlAURA & 152k $AURA) & BAL and the Parallel Protocol [treasury](https://debank.com/profile/0x25Fc7ffa8f9da3582a36633d04804F0004706F9b) currently holds 20k $vlAURA. - Mimo Labs is buying AURA regularly which are locked to incentivize the liquidity (more details [here](https://gov.mimo.capital/t/mgp-15-update-treasury-strategy/294)) - The Parallel DAO will also pay ±$585 voting incentives per week for the 80-MIMO/20-wETH pool on Ethereum and ±$125 for the 80-MIMO/20-wETH pool on Polygon PoS via Paladin Quest vote marketplace (more details [here](https://gov.mimo.capital/t/mgp-16-restructure-mimo-token-liquidity-incentives-on-ethereum-and-polygon-pos/313/3)) - PAR & jEUR already have a gauge on Polygon: [2eur (PAR)](https://app.balancer.fi/#/polygon/pool/0x513cdee00251f39de280d9e5f771a6eafebcc88e000000000000000000000a6b) - wUSK & paUSD already have a gauge on Ethereum: [e-cs-kp-USD](https://app.balancer.fi/#/ethereum/pool/0x01536b22ea06e4a315e3daaf05a12683ed4dc14c0000000000000000000005fc) - wFRK gauge on Polygon is currently on Snapshot: [p-cs-kp-EUR](https://snapshot.org/#/balancer.eth/proposal/0x382fef064547b1ea8de36777ba4cb7a0beb64748a686f109ad0b8816572db6a4) - Parallel is using Balancer since June 2021 for the MIMO token liquidity, first on Ethereum with a 75MIMO-25PAR weighted [pool](https://app.balancer.fi/#/ethereum/pool/0x5b1c06c4923dbba4b27cfa270ffb2e60aa28615900020000000000000000004a) then a 80MIMO-20PAR weighted [pool](https://app.balancer.fi/#/ethereum/pool/0xa5533a44d06800eaf2daad5aad3f9aa9e1dc36140002000000000000000001b8), which was incentivized with MIMO tokens; and on Polygon PoS since November 2021, first with a 75MIMO-25PAR weighted [pool](https://app.balancer.fi/#/polygon/pool/0x77952e11e1ba727ffcea95a0f38ed7da586eebc7000200000000000000000072) then a 80MIMO-20PAR weighted [pool](https://app.balancer.fi/#/polygon/pool/0x82d7f08026e21c7713cfad1071df7c8271b17eae0002000000000000000004b6), which was incentivized with MIMO tokens. # Specifications: 1. Governance: 2. Oracles: 3. Audits 4. Centralizing vector: 5. Market history: 6. Value: # Contracts Ethereum: - 80MIMO-20WETH: weighted; trading fees: 0.30%; [Pool](https://app.balancer.fi/#/ethereum/pool/0xee3959fd00a0b996d801fc34b7ce566bd037f5f500020000000000000000063e) - Pool: [0xee3959fd00a0b996d801fc34b7ce566bd037f5f5](https://etherscan.io/address/0xee3959fd00a0b996d801fc34b7ce566bd037f5f5) - MIMO: [0x90b831fa3bebf58e9744a14d638e25b4ee06f9bc](https://etherscan.io/token/0x90b831fa3bebf58e9744a14d638e25b4ee06f9bc) - wETH: [0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2](https://etherscan.io/token/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2) - Gauge: [0x6be156504cda8ee38169be96bcf53aeab4377c1a](https://etherscan.io/address/0x6be156504cda8ee38169be96bcf53aeab4377c1a) Polygon PoS: - 80MIMO-20WETH: weighted; trading fees: 0.30%; [Pool](https://app.balancer.fi/#/polygon/pool/0x3dbb91bdd5fc74c49146819ed58d7d204cf5a016000200000000000000000cfb) - Pool: [0x3dbb91bdd5fc74c49146819ed58d7d204cf5a016](https://polygonscan.com/address/0x3dbb91bdd5fc74c49146819ed58d7d204cf5a016) - MIMO: [0xadac33f543267c4d59a8c299cf804c303bc3e4ac](https://polygonscan.com/address/0xadac33f543267c4d59a8c299cf804c303bc3e4ac) - wETH: [0x7ceb23fd6bc0add59e62ac25578270cff1b9f619](https://polygonscan.com/address/0x7ceb23fd6bc0add59e62ac25578270cff1b9f619) - Gauge: [0x6db85d4F903FA719d4Ee7b6A6434A49c82aD845A](https://polygonscan.com/address/0x6db85d4F903FA719d4Ee7b6A6434A49c82aD845A) (child); [0x9e5B7e6b61529571E98C8F16d07794eA99A7a930](https://etherscan.io/address/0x9e5B7e6b61529571E98C8F16d07794eA99A7a930) (root) **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): `0x6be156504cda8ee38169be96bcf53aeab4377c1a` gaugeType(string): `Ethereum` gauge(address): `0x9e5B7e6b61529571E98C8F16d07794eA99A7a930` gaugeType(string): `Polygon` ---
**Author:** ![Xeonus](https://yyz1.discourse-cdn.com/flex027/user_avatar/forum.balancer.fi/xeonus/32/3621_2.png) [@Xeonus](https://forum.balancer.fi/u/Xeonus)\ **Post date:** [December 13, 2023, 7:56pm UTC](https://forum.balancer.fi/t/bip-506-enable-80mimo-20weth-gauges-with-a-2-cap-ethereum-polygon-pos/5407/2 "2023-12-13T19:56:27Z")
[https://snapshot.org/#/balancer.eth/proposal/0xc3522fd845ed507df6af3ba2b349c26a87a656324eb96b0efe76d119a7f378f1](https://snapshot.org/#/balancer.eth/proposal/0xc3522fd845ed507df6af3ba2b349c26a87a656324eb96b0efe76d119a7f378f1)