PR with Payload
Summary:
We request adding sFRAX/sfrxETH weighted pool on optimism to BAL gauge as an uncapped core pool
References/Useful links:
Link to
• Website
• Documentation
• Github Page
• Communities
Protocol Description:
sFRAX is a staked interest bearing version of FRAX stable coin and sfrxETH is a staked interest bearing version of FRAX’s staked ETH (frxETH).
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 and core pool status will facilitate the process.
Specifications:
- Governance: FRAX governance process can be seen here and their snapshot here.
- Oracles: Rate provider contract for sfrxETH and for sFRAX.
- Audits: See here
- Centralization vectors: see here.
- Market History: See here
- Value: Balancer will earn the protocol fee on interest bearing sFRAX and 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/0x2feb76966459d7841fa8a7ed0aa4bf574d6111bf00020000000000000000011d
Link to child gauge: Address: 0x758D3297...aB47e309E | OP Mainnet Etherscan
Link to root gauge: Address: 0x8c596E8D...95f799a16 | 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):0x8c596E8D1b3Be04a6cAa1B1152b51c495f799a16
gaugeType(string): Optimism
Additionally, this pool is requesting core pool status as per BIP-457