Payload with PR
Summary
Proposal to add gauge support for the 50WAR-50WETH pool on Mainnet.
Abstract
Our proposal aims to create on chain liquidity for WAR and introduce the first and only WAR/WETH pool on mainnet.
Protocol description
Paladin is a DeFi ecosystem focused on governance protocols and markets, designed to unlock the value of governance. It aims to enable every DeFi stakeholder to participate in governance as they wish, building solutions around governance power. These solutions are designed to strengthen the underlying DeFi protocol by leveraging the token’s voting power or utility while creating value for token holders.
Paladin’s flagship product, Quest v2, introduces a pioneering method for boosting voting incentives across various DEXs including Balancer and Aura.
The Autovoter by Paladin optimizes voting incentives for holders of vlCVX, vlAURA, and vlLIQ, offering some of the most competitive yields available for governance tokens.
Warlord, a novel governance index, allows users to leverage vote incentives within the Convex and Aura ecosystems while automatically managing CVX and AURA positions.
References/Useful links:
-Website: https://www.paladin.vote/
-Documentation: https://doc.paladin.vote/
-Github Page: Paladin Finance
-Twitter: https://twitter.com/Paladin_vote
-Discord: discord.gg/SmgztXzYan
Motivation
WAR, the first governance index token, comprises Convex (CVX) and Aura (AURA), which are vote-locked to generate yield. Previously, the only way to mint WAR was by depositing CVX, AURA, or both, with users receiving WAR directly upon minting. To earn rewards and vote incentive yield, users had to stake their WAR. With the introduction of this Balancer pool, WAR will now be tradable on-chain, offering several advantages. Firstly, it provides a new income stream for those who wish to provide liquidity, and it boosts the yield for those who stake their WAR as the staked ratio decreases. Additionally, offering on-chain liquidity allows users to exit Warlord without waiting in the redeem queue, which can take several weeks depending on the unlock schedule of the vote-locked tokens.
To provide immediate WAR liquidity, Paladin will use its Aura voting power as well as voting incentives since DEX liquidity for PAL ever since its inception and plans to keep using governance power and PAL bribes with this new pool.
Specifications
- Governance: The current Governance of Paladin is composed of a Forum to discuss Proposals, a Snapshot space to vote, and the execution of a vote is currently handled by a Community Multisig where the members are elected through the DAO voting process. The DAO has voted to switch governance to an Optimistic Council (PIP-23)
- Oracles: The protocol does not use Oracles.
- Audits: You can find all the audits of the current products here.
- Centralization vectors: Treasury is managed by multi sigs
- Market History: WAR has not market history because it was only possible to acquire some war through a minting process.
Pool details :
Pool : Balancer
Gauge w 2% cap: Vyper_contract | Address 0x07b914F3C6031D5499ac5bE828016b115fc68825 | Etherscan
Existing Gauges Killing:
As an additional measure, Paladin proposes to eliminate all remaining PAL gauges on the mainnet as part of this proposal. Currently, there are two idle gauges left on the mainnet. Here are their names and pool addresses:
- USDC-PAL 0xA7Ff759DBeF9F3EFDD1d59Beee44b966AcAfe214
Specifications:
Part A:
The Balancer Maxi LM Multisig 0xc38c5f97B34E175FFd35407fc91a937300E33860 will interact with the GaugeAdderv4 at 0x5DbAd78818D4c8958EfF2d5b95b28385A22113Cd and call the addGauge function with the following arguments: gauge(address): 0x07b914F3C6031D5499ac5bE828016b115fc68825
gaugeType(string): Ethereum
Part B:
The DAO Multisig 0x10A19e7eE7d7F8a52822f6817de8ea18204F2e4f will interact with the AuthorizerAdaptorEntrypoint at 0xf5dECDB1f3d1ee384908Fbe16D2F0348AE43a9eA and call performAction using 0xab8f0945 for the data(bytes) argument and the “Gauge Address” list for each pool below will be used for the target(address) argument.
- USDC-PAL 0xA7Ff759DBeF9F3EFDD1d59Beee44b966AcAfe214
Gauge Address:0xe2b680a8d02fbf48c7d9465398c4225d7b7a7f87