[BIP-645] Enable Gauge for inETH/wstETH [Arbitrum]

BAL Gauges
1

PR with Payload

Summary:

This is a proposal on behalf of InceptionLRT to enable a gauge for inETH/wstETH on Arbitrum. inETH is the Restaking Token dedicated to ETH, obtained through InceptionLRT’s restaking mechanism and platform.
InceptionLRT is an omnichain liquid restaking protocol offering both Native and Isolated restaking to users.

References/Useful links:

Link to:
• Website: https://www.inceptionlrt.com/
• Documentation: https://docs.inceptionlrt.com/
• Github Page: GitHub - inceptionlrt/smart-contracts: Smart contracts, vaults, tokens, and associated tests for the InceptionLRT project
• Communities: x.com, Discord: InceptionLRT

Protocol Description:

InceptionLRT is an omnichain liquid restaking protocol offering both Native and Isolated restaking to users.
Powered by the Flash Unstake mechanism and supported by node operators with DVT Technology, InceptionLRT aims to become the most complete liquid restaking protocol in DeFi. The isolated architecture combined with the flash unstake feature solves the only drawback of isolated LRTs - liquidity fragmentation!

Motivation:

InceptionLRT aims to enable a gauge for inETH/wstETH to substantially increase the liquidity of inETH, while supporting its utility and viability for integration into a range of DeFi protocols.

Specifications:

  1. Governance: ING holders participate in decision-making, influencing the protocol’s direction and policies, including the Node Operators, AVSs and restaking strategies.
    Incentive Allocation: Through gauge weight voting, veING holders direct incentives and rewards towards preferred liquidity, impacting the protocol’s dynamics.
    Rewards and Participation: Providing ING to liquidity pools like the 80-20 Balancer Liquidity Pools and locking the LP token earns veING, granting access to various protocol.

  2. Oracles: Rate Provider for inETH.

  3. Audits: InceptionLRT undergoes security audits and checks to ensure the safety of user funds. Latest: Audit Reports | InceptionLRT Docs.

  4. Centralization vectors: The InceptionLRT Litepaper introduced the vision for Inception as a decentralized system where independent node operators work to power the growth and development of Web3. Further detailed information may be found here: EigenLayer - Inception iLRTs Docs.

  5. Market History: No major volatility - CoinGecko.

  6. Value: The pool is intended to be the primary source of liquidity for inETH on Arbitrum and allow for a healthy stimulation of volume.

Pool: Balancer
Child Chain Gauge: Vyper_contract | Address 0x2dEafe52b0bCb9801d3aaDc0D75c7879cB2E5825 | Arbiscan
Root Gauge: ArbitrumRootGauge | Address 0xE3A23a49128Aa55d0705E4F97ac4dc3149dFf729 | Etherscan

Technical Specifications:

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): 0xE3A23a49128Aa55d0705E4F97ac4dc3149dFf729

gaugeType(string): Arbitrum

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https://snapshot.org/#/balancer.eth/proposal/0x4fee8f6d6a0fac76f86faab2ee31d52eab2ef6a8b27d3b6092509cc893803f16