Summary & Motivation:
The direct incentive infrastructure for Balancer pools is managed by the Balancer Maxis to facilitate rewards provided by partners as opposed by BAL from the gauge system. This is done via reward injectors which take a recipient list schedule that takes mainly the gauge address, amount of rewards per week, and number of weeks. Once an injection is executed; it adds the number of rewards per week to a gauge contract to be streamed to stakers.
During the most recent adjustment to the injection schedule for the ggAVAX/wAVAX pool, the GoGoPool team requested to stream 4000 GGP over 4 weeks, at 1000 GGP per week. The transaction (can be seen here) executed by the team was incorrectly configured and sent the full amount of 4000 GGP to the injector over a 1 week period which resulted in an undesired outcome for reward distribution… To compensate the GGP team for this misconfiguration, we propose to supply the difference in incentives of 3000 GGP equivalent in BAL from the treasury at the time of execution.
This proposal requests Balancer DAO to provide 6545 BAL to be swapped to GGP and be distributed over the next 3 weeks as direct incentives to the ggAVAX/WAVAX gauge as the GoGoPool team intended. In order to facilitate this timeline; the Maxis pooled 1000 GGP to continue the injection cycle this upcoming week to not cause a break in emissions and poor user experience. The request is for a total of 6545 BAL to cover the the total 3000 GGP is to be sent to the LM Multisig for distribution.
Future Mitigation Measures:
The Maxi team was aware of this issue moments after it occurred and attempted to mitigate it by requeuing the recipient list in an effort to correct the misconfiguration prior to the inject sending funds to the gauge. This was done just several minutes late for the firing time, and it was clear to all team members that refining our process around internal communication, transaction loading, and transaction review must all be further improved. Diligence by all parties involved can and will be improved in coming weeks. A combination of tooling, scheduling, automation, and accountability will be pursued to improve everyone on the team’s transaction handling going forward.
The DAO Multisig
0x10A19e7eE7d7F8a52822f6817de8ea18204F2e4f will call
transfer on the BAL contract
0xba100000625a3754423978a60c9317c58a424e3d with the recipient as the LM Multisig
0xc38c5f97B34E175FFd35407fc91a937300E33860 amount of 6545 BAL (