[BIP-616] Enable gauge for sDAI/aUSDC Rehype pool [Gnosis]

BAL Gauges
1

PR with Payload

Summary

This is a proposal to enable one uncapped Balancer gauge for an sDAI/aUSDC Rehype Pool on Gnosis Chain.

Rehype Pools hold at least one Aave deposit receipt token and thus allow LPs to receive the lending market yield, in addition to swap fee revenue, and third-party incentives. Rehype Pools build on top of the E-CLP’s asymmetric concentrated liquidity profile, improving capital efficiency on two fronts. As per previous arrangements between Balancer and Gnosis this pool shall not bear any protocol fees for the time being.

References/Useful links

Protocol description

  • “Savings Dai (sDAI) is a tokenized representation of Dai deposited in the Dai Savings Rate (DSR) offered by MakerDAO. The sDAI token enables users to receive returns on their DSR deposits while still being able to transfer, stake, lend and use it in any way they want.” - Spark
  • aUSDC is the deposit receipt token issued by the Aave protocol to lenders of USDC. Since aTokens are rebasing, this pool uses BGD Labs’s statA wrapper that is a repricing representation of statA tokens that reflects the accruing lending yield.

Motivation

Gyroscope is expanding to Gnosis Chain.

Specifications

Governance

The Gyroscope Protocol will be governed by a DAO and relevant stakeholder with the full launch on Ethereum. For now, the FTL Labs multi-sig can pause the pool, change the swap fee and set the protocol fee. As a custom pool by Gyroscope, the E-CLP will be controlled by Gyroscope governance upon its launch.

Oracles

n/a

Audits

Audit reports by Nethermind, Trail of Bits, and Runtime Verification can be accessed here (the E-CLP is called the “CEMM” in these reports). In addition, the E-CLP code has been live in production on Polygon since November 2022.

Centralization vectors

No centralization vectors. The FTL Labs team’s multi-sig can - currently - pause the pool, change the swap fee and set the protocol fee.

Market History

The Gyroscope Protocol is live on Ethereum since EOY23, with E-CLPs on several other chains. Details available here .

Value

As per “Motivation”.

Contracts

Specification

Transaction: 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): 0xc6710f32c9524b4C6736fEae17BE7c88bB8fF87c
gaugeType(string): Gnosis

2

https://snapshot.org/#/balancer.eth/proposal/0xba3329cade1a62fe57306342f981d126ec84eaec60ef1266be2e1c2b724b18b1