# \[BIP-572\] Enable ETHx / wstETH Gauge \[Ethereum\] **URL:** \ **Category:** BAL Gauges\ **Created:** [March 23, 2024, 7:57pm UTC](https://forum.balancer.fi/t/bip-572-enable-ethx-wsteth-gauge-ethereum/5653 "2024-03-23T19:57:46Z")\ **Posts on this page:** 2\ **Page:** 1
**Author:** ![Knight-Mayr](https://avatars.discourse-cdn.com/v4/letter/k/f4b2a3/32.png) [@Knight-Mayr](https://forum.balancer.fi/u/Knight-Mayr)\ **Post date:** [March 23, 2024, 7:57pm UTC](https://forum.balancer.fi/t/bip-572-enable-ethx-wsteth-gauge-ethereum/5653/1 "2024-03-23T19:57:46Z")
### PR with Payload > > > \- enable ETHx / wstETH gauge > \- ETHx rate provider review: https://github.com/ba…lancer/code-review/blob/main/rate-providers/ETHxRateProvider.md > \- ETHx rate provider: 0xAAE054B9b822554dd1D9d1F48f892B4585D3bbf0 > \- pool uses vetted wstETH rate provider: 0x72d07d7dca67b8a406ad1ec34ce969c90bfee768 > \- Forum proposal: https://forum.balancer.fi/t/bip-571-enable-ethx-wsteth-gauge-ethereum/5653 > \- designate as core pool ## Summary > The purpose of this proposal is to enable gauge creation for the ETHx/wstETH pool on Ethereum ## References/Useful links > - Website: [https://www.staderlabs.com/](https://www.staderlabs.com/) > - ETHx Dapp: [Ethereum Staking - Stake Ether & Earn Eth2 Rewards | Stader Labs](https://www.staderlabs.com/eth/stake/) > - ETHx Litepaper: [https://www.staderlabs.com/docs/ETHx%20Litepaper.pdf](https://www.staderlabs.com/docs/ETHx%20Litepaper.pdf) > - ETHx Contract: [ETHx (ETHx) | ERC-20 | Address: 0xA35b1B31...05200A15b | Etherscan](https://etherscan.io/token/0xA35b1B31Ce002FBF2058D22F30f95D405200A15b#tokenInfo) > - Docs: [Introduction | Stader - ETHx](https://staderlabs.gitbook.io/ethereum/) > - Github: [GitHub - stader-labs/ethx at mainnet\_V0](https://github.com/stader-labs/ethx/tree/mainnet_V0) > - Audits: [Audit Reports | Stader - ETHx](https://staderlabs.gitbook.io/ethereum/ethx-security/audit-reports) > - Bug Bounty: [Stader for ETH Bug Bounties | Immunefi](https://immunefi.com/bounty/staderforeth/) > - Dune: [https://dune.com/stader\_labs/dashboard-catalogue](https://dune.com/stader_labs/dashboard-catalogue) > - **Communities** > - Twitter: [https://twitter.com/staderlabs](https://twitter.com/staderlabs) > - Telegram: [Telegram: View @staderlabs](https://t.me/staderlabs) > - Discord: [Stader Community](https://discord.com/invite/xJURAhSmav) > - Blog: [Unlocking DeFi Power: Stader Labs' Liquid Staking Insights](https://www.staderlabs.com/blogs/) ## Protocol Description > ETHx is an ERC-20 token by Stader, a non-custodial liquid staking platform with [$650Mn+ TVL](https://defillama.com/protocol/stader) across Ethereum, Polygon, Bnb, Hedera… ETHx represents staked ETH; that appreciates in value over time due to the staking rewards and is represented in the exchange rate. Created to improve accessibility & support decentralization of Ethereum by allowing anyone to spin up a validator with just a 4 ETH bond (the lowest in the industry and 80% lower than solo staking), ETHx is currently at [$500M+ TVL (130K ETH)](https://dune.com/stader_labs/ethx-general-metrics) across [4,000+ validators spread over 250+ Node Operators](https://dune.com/stader_labs/node-operator-dashboard) > stETH is a rebase token by Lido that also represents staked ether but instead of the exchange rate accumulation method, the staking rewards are given as extra stETH. Effectively, stETH always stays pegged 1:1 with ETH and stETH token balances are updated when the oracle reports the change in the total (initial deposit + staking rewards) every day. wstETH is the wrapped version of regular stETH which allows for stETH accumulation in the contract and turns the rebase model of stETH into the C-token model of other LSTs ## Motivation > As an LST player, Stader is always on the lookout for more avenues to improve the liquidity depth in the market and intends to expand its current set of Balancer pools. This move is geared towards improving the retail traction in LPs while enhancing the trading experience ## Specifications 1. **Governance:** Stader’s governance is led by the Stader DAO - a wide variety of $SD holders who participate in key decisions pertaining to the protocol. Here are the [Stader Governance Forum](https://forum.staderlabs.com/?_gl=1*3ops13*_ga*ODUwODI0OTEyLjE2NDkzMzkzOTE.*_ga_RJZMMEBJQ5*MTY4ODM5NDk2Mi4xNDMuMC4xNjg4Mzk0OTYyLjAuMC4w) & [Snapshot](https://snapshot.org/staderdao.eth#/staderdao.eth) 2. **Oracles:** 3. **Audits:** Stader’s audit reports from Sigma Prime, Halborn & Code4rena can be found [here](https://staderlabs.gitbook.io/ethereum/ethx-security/audit-reports) 4. **Centralization vectors:** Stader is a non-custodial & decentralized liquid staking solution based on DAO governance. $SD is Stader’s native governance token. ETHx is based on the foundation of decentralizing Ethereum with permissionless node operators getting the majority of the TVL 5. **Market History:** ETHx, like all of Stader’s prior LSTs went live with redemptions enabled from Day 1. So, the ETH is not locked and can always be redeemed by unstaking & withdrawing on Stader Dapp anytime which ensures the peg at all times and can be observed [here](https://www.coingecko.com/en/coins/stader-ethx) 6. **Value:** This is a Core Pool which will generate revenue for the DAO via the ETHx yield and through swap fees once the pool scales to a considerable TVL that can drive substantial trading volumes ## Technical Specifications - **[Pool](https://app.balancer.fi/#/ethereum/pool/0xb91159aa527d4769cb9faf3e4adb760c7e8c8ea700000000000000000000067c)** - **[Pool Contract](https://etherscan.io/address/0xb91159aa527d4769cb9faf3e4adb760c7e8c8ea7)** - **[Gauge](https://etherscan.io/address/0xAC08fde28aa2D123B61a5dB3074cAF72760FfeEB)** 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):** `0xAC08fde28aa2D123B61a5dB3074cAF72760FfeEB` - **gaugeType(string):** `Ethereum` ---
**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:** [March 27, 2024, 1:15pm UTC](https://forum.balancer.fi/t/bip-572-enable-ethx-wsteth-gauge-ethereum/5653/2 "2024-03-27T13:15:27Z")
[https://snapshot.org/#/balancer.eth/proposal/0xe452ad647b7228e5e42c9583f32eb570ec15b7cd8bf7b9129b72c464a05f71f5](https://snapshot.org/#/balancer.eth/proposal/0xe452ad647b7228e5e42c9583f32eb570ec15b7cd8bf7b9129b72c464a05f71f5)