[BIP-620] Enable gauge for wstETH/WETH E-CLP [Gnosis]

BAL Gauges
1

PR with Payload

Summary

This is a proposal to enable one uncapped Balancer gauge for a wstETH/ WETH E-CLP on Gnosis Chain.

E-CLP’s asymmetric concentrated liquidity profile offers capital efficiency improvements. 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

  • “wstETH is a wrapped version of stETH. […] wstETH keeps your balance of stETH fixed and uses an underlying share system to reflect your staking rewards.” - Lido
  • WETH is an ERC-20 compliant wrapper of ETH.

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

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): 0x6d060a785530cB13795b3c5a43320c462811d43b
gaugeType(string): Gnosis

2

https://snapshot.org/#/balancer.eth/proposal/0x1e067d8f7a641036e809138dcc8347008038446dd15512ab29911aaecff5f3c1