[BIP-53] Enable crosschain Gauges via LayerZero

Summary:

Cross chain gauges should be enabled on Balancer leveraging the LayerZero cross chain messaging protocol.

References / Useful links:

Website

Documentation

Github

Twitter, Telegram & Discord

Protocol Description:

LayerZero is an open and permissionless Omnichain Interoperability Protocol designed for lightweight messaging across chains. It provides authentic and guaranteed message delivery with configurable parameters. LayerZero is implemented as a set of gas-efficient, non-upgradable smart contracts.

LayerZero is currently live on 10 chains including Ethereum, Polygon, Arbitrum, Optimism, BNB Chain, Avalanche, and Fantom, and on testnet and undergoing audit on 16 chains including Moonbeam, Gnosis Chain, and Solana among other non-EVM chains.

Purpose

Balancer Users should be afforded the same experience that currently exists on mainnet to other chains. This would maximise veBAL utility across networks by giving incentives to lock BAL for LPs deploying capital on all of the other networks.

Cross-chain gauges are a key objective of the Balancer protocol product roadmap, which has been addressed in part here: How Gauges Work - Balancer. Delivering cross-chain gauges would achieve the objectives of the roadmap and allow for LP books on other chains. Currently, since veBAL balances are not queryable on other chains (Polygon, Arbitrum, etc), pools on those chains do not get this boost.

Specification

LayerZero offers the greatest security properties and the singularly credible solution for the cross chain gauges.

If approved, BalancerDAO would take the required steps to provide for development work for Balancer Protocol to enable cross-chain gauges leveraging LayerZero. More specifically, development work would be undertaken to integrate with a LayerZero endpoint. Further, LayerZero Labs would provide technical support at no cost for BalancerDAO or to any technical contractors currently contributing to the Balancer codebase.

Balancer may also utilise LayerZero protocol beyond cross-chain gauges to enable any other generic messaging use cases that Balancer would find desirable e.g. swaps, claiming veBAL rewards at lower costs on other networks, or mint veBAL from a low cost network.

To be clear, Layer Zero will lead these development efforts with Balancer Labs assisting in a support/education capacity. Approval of this vote does not compel Balancer Labs to allocate development resources towards this effort beyond this support/education capacity.

6 Likes

I think I can speak on behalf of a number of polygon, arbitrum, and now optimism LPs that would love to see boosting on the other chains. We fielded many many questions on the subject at the launch of veBAL. This would be a great addition to the veBAL ecosystem.

Would you be able to elaborate a little on this piece? It appears that LayerZero is not asking for a grant for the build-out, but is asking for some type of support, so i’m just trying to envision what that relationship or ask looks like.

This would be a great addition to make veBAL more effective across other chains. Chain support is here. Audits were a few months ago, too, so all seems good.

Could you or someone from the LayerZero team clarify how long this process might take? And what technical support are they able to provide, esp since there is no cost attached?

@zekraken Certainly, LayerZero Labs would be providing technical support with examples, education and debugging along the process to core contributors of the DAO.

We are already supporting another DAO with a similar setup (crosschain gauges).

@Bobbay_StableNode This could be done by mid-october before Devcon with the current scope we could add more features as we go and provide more chains too.

3 Likes

Huge thank you to Maki for putting this together. Cross chain gauge boosts would be an incredible value add for the Balancer ecosystem as it would allow Aura to go multichain. Our L2 deployments would see a surge of renewed interest and since these are on balance very profitable for us this would be a great thing.

I know the smart contracts team is very busy so Layer Zero offering to do the heavy lifting here is what makes this all possible.

4 Likes

Thanks for the clarification @0xMaki. We are in support of this proposal.

1 Like

https://snapshot.org/#/balancer.eth/proposal/0xcadb3678b8b3806826c9b04731f590987f0d7c9a1ade8e6536d6dcbee829014f

1 Like