PR with Payload
Summary:
This proposal is to add a veBAL gauge for the new ePENDLE/PENDLE pool on Ethereum.
Pool deployed here 4.
Gauge deployed here 5.
References/Useful links:
Link to:
• Website:https://equilibria.fi/
• Documentation:https://docs.equilibria.fi/
• Github Page:GitHub - eqbtech/equilibria-contracts
• Communities:https://twitter.com/Equilibriafi
-Dune:https://dune.com/lxx1233/equilibria-finance
• Defillama: https://defillama.com/protocol/equilibria;
Protocol Description:
Equilibria is a protocol built on top of Pendle Finance and is designed to enhance the yields of Liquidity Providers (LPs) through the accumulation of vePENDLE tokens on our platform. Our main goal is to create a win-win scenario where all participants benefit, ultimately making yields more attractive and accessible to a broader range of users. The concept of veTokens has a proven track record within the industry. Notable projects like Curve/Convex and Balancer/Aura have effectively implemented similar models. We are confident that this approach serves as a potent mechanism for aligning the interests of both liquidity providers and Pendle token holders.
Our native token EQB acts as a governance and incentivisation tool within the ecosystem. Locked EQB tokens will have governance rights in the system and will be able to vote using the protocol owned vePENDLE voting power as well as on internal proposals.
Boost Pendle LP Yield: Our core idea is to align liquidity providers and $PENDLE holders together to maximize incentives for all participants.
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Liquidity providers, who provide liquidity to Pendle through Equilibria, can earn boosted rewards in both $PENDLE and $EQB, even if they do not own any $PENDLE. EQB is our governance token,EQB earned can further be locked to receive a share of the protocol’s revenue and to vote and earn bribes.
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$PENDLE holders, on the other hand, can convert their tokens into $ePENDLE and stake them to earn rewards in both $PENDLE and $EQB. $ePENDLE holders can also easily exit their position by swapping back to $PENDLE, providing flexibility and ease of use.
Voting & Bribe:
- Vote: vlEQB (locked EQB) is available on both Arbitrum and Ethereum. We enable users to vote on multi chains. The votes will be merged to control the vePENDLE Equilibria owned in Pendle’s Gauge Voting system. Participating in the Gauge Voting can earn a vote reward from Pendle and potential bribe reward.
- Bribe: Protocols who have liquidity on Pendle Finance are very keen to buy votes from Equlibria. By doing this, they can get more PENDLE emission on their liquidity. So there will be very promising bribes rewards for all the vlEQB holders. After votes on Snapshot, the bribe reward will be distributed. The voters can claim their bribes at Equilibria website.
Motivation:
Explain why this pool needs incentivization
This proposal aims to introduce a veBAL gauge for the ePENDLE/PENDL pool, with the objective of establishing substantial ePENDLE liquidity on Balancer. The inclusion of platform BAL incentives is intended to further enhance ePENDLE liquidity and maintain a more stable peg for ePENDLE. Upon approval, we anticipate actively promoting our new veBAL gauge and leveraging EQB’s bribe feature to facilitate incentivization, thereby contributing to the development of the Balancer bribe market narrative.
The Equilibria Team remains committed to being a prominent supporter of Balancer technology and a catalyst for BAL emissions through our bribe incentives. Once the ePENDLE/PENDLE pool is eligible for BAL rewards, our bribe feature and strategy will be instrumental in encouraging trading, incentivizing liquidity providers, and fostering LP farming activities on the Balancer platform.
Specifications:
Equilibria Finance has managed to lock approximately 7.8 million PENDLE tokens on our platform, which account for 24% of the total vePENDLE supply. It has been expanding across multiple chains -Ethereum,Arbitrum, BNB Chain and Optimism. This expansion now achieves $64M TVL, and offers diverse opportunities to our users.
You can view analytics for Equilibria on Defillama. To learn more about the protocol, please visit our official website, official docs and our DUNE pages.
- Governance: Information on governance Overview - Equilibria votes and snapshots:
Protocols who have liquidity on Pendle Finance, their Pendle emission are determined by votes which investors could use vlEQB to vote at Equilibria snapshot either at Arbitrum or Ethereum, you can visit and vote at Equilibria Snapshot [Epoch #xx] Weekly Pendle Gauge Vote. The official snapshot page is: Snapshot
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Oracles: Does the protocol rely on external oracles?No.
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Audits:
At Equilibria, security is our top priority. Our experienced team, with backgrounds at renowned companies such as Facebook, Microsoft, and Airbnb, has meticulously designed robust security measures. We have undergone rigorous auditing by Peckshield and WatchPug, with detailed reports available at here -
Centralization vectors: Equilibria employs a 3/5 multi-signature control mechanism and utilize timelock contracts to provide enhanced security and peace of mind for our users.
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Market History: Equilibria launched In June of 2023. Through the ePendle Pool and incentives, Equilibria maintains the flexibility to adjust incentives on ePendle pool and provide more strategy in ePendle pool to boosting the yield in order to optimize supply and demand for ePendle and to maintain its peg to PENDLE. Equilibria’s strategy and mechanics have proven to be resilient at defending the peg. See ePendle price here, EQB price here;
Pool link here 4.
Gauge link here 5.
- Value: The pool is anticipated to generate significant trading volumes and fees for Balancer. The proposed ePENDLE/PENDLE+ pool strives to become a primary liquidity hub for both tokens, thereby bolstering market stability and depth on Balancer. We will promote this pool and provide bribe rewards to attract more liquidity.
Specifications:
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):0xc40F4ABc616Ab3136A002A667A7830F3F7dEC5FA
gaugeType(string): Ethereum