# \[BIP-663\] Enable wUSDM/GYD E-CLP gauge \[Arbitrum\]

**URL:** <https://forum.balancer.fi/t/bip-663-enable-wusdm-gyd-e-clp-gauge-arbitrum/5829>\
**Category:** BAL Gauges\
**Created:** [June 26, 2024, 9:01am UTC](https://forum.balancer.fi/t/bip-663-enable-wusdm-gyd-e-clp-gauge-arbitrum/5829 "2024-06-26T09:01:51Z")\
**Posts on this page:** 2\
**Page:** 1

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**Author:** ![jooooo5as](https://avatars.discourse-cdn.com/v4/letter/j/bc8723/32.png) [@jooooo5as](https://forum.balancer.fi/u/jooooo5as)\
**Post date:** [June 26, 2024, 9:01am UTC](https://forum.balancer.fi/t/bip-663-enable-wusdm-gyd-e-clp-gauge-arbitrum/5829/1 "2024-06-26T09:01:51Z")

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PR with Payload:

> <https://github.com/BalancerMaxis/multisig-ops/pull/1172>
>
> wUSDM Rate provider review: https://github.com/balancer/code-review/blob/main/ra…te-providers/wUSDMRateProvider.md
> 
> Proposal: https://forum.balancer.fi/t/bip-663-enable-wusdm-gyd-e-clp-gauge-arbitrum/5829

### Summary

This is a proposal to enable one uncapped Balancer gauge for a wUSDM/GYD E-CLP on Arbitrum. We propose to only enable protocol fees once rewards start.

### References/Useful links

- [Documentation of E-CLPs](https://docs.gyro.finance/gyroscope-protocol/concentrated-liquidity-pools/e-clps)
- [Website](https://gyro.finance/)
- [Github](https://github.com/gyrostable)
- [Discord](https://discord.com/invite/2vnqnS7wE6)
- [X](https://twitter.com/GyroStable)

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### Protocol description

- "wUSDM is a wrapped version of USDM. USDM is a USD denominated stablecoin, issued by the [Mountain Protocol](https://mountainprotocol.com/)
- GYD is a USD denominated stablecoin, issued by the [Gyroscope protocol](https://gyro.finance/)

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### Motivation

Gyroscope is further expanding on Arbitrum and bootstrapping wUSDM/GYD liquidity on Arbitrum with the first respective pool.

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### 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

- ‘rateProvider0’: wUSDM rate provider on Arbitrum: [0x7F55E509006C9Df7594C4819Ba7ebfE6EfE4854b](https://arbiscan.io/address/0x7F55E509006C9Df7594C4819Ba7ebfE6EfE4854b) and relevant [review](https://github.com/balancer/code-review/blob/main/rate-providers/wUSDMRateProvider.md).
- ‘rateProvider1’: GYD rate provider on Arbitrum: 0x00

#### 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](https://dune.com/gyro_finance/gyroscope-e-clps).
- This is the first wUSDM/ GYD pool

## Value

As per “Motivation”.

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#### Contracts

- E-CLP: [0x315dd595e82bDc0c194f3A38A08fDE480D7E5d21](https://arbiscan.io/address/0x315dd595e82bDc0c194f3A38A08fDE480D7E5d21)
- Childchain gauge on Arbitrum: [0x879049Df2744B8D8848985C82275AD4c07379905](https://arbiscan.io/address/0x879049Df2744B8D8848985C82275AD4c07379905)
- Arbitrum Chain root gauge on Ethereum: [0x9eCc698c20219Ea45697d82ca89cD044aEEACF60](https://etherscan.io/address/0x9eCc698c20219Ea45697d82ca89cD044aEEACF60)

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> 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): `0x9eCc698c20219Ea45697d82ca89cD044aEEACF60`  
> gaugeType(string): `Arbitrum`

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**Author:** ![ZenDragon](https://yyz1.discourse-cdn.com/flex027/user_avatar/forum.balancer.fi/zendragon/32/1542_2.png) [@ZenDragon](https://forum.balancer.fi/u/ZenDragon)\
**Post date:** [July 17, 2024, 11:57pm UTC](https://forum.balancer.fi/t/bip-663-enable-wusdm-gyd-e-clp-gauge-arbitrum/5829/2 "2024-07-17T23:57:55Z")

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[https://snapshot.org/#/balancer.eth/proposal/0x7f887aba721457fbdd61ddcf5ede8c8698d383eb4340a1d951d2f70c98bdc129](https://snapshot.org/#/balancer.eth/proposal/0x7f887aba721457fbdd61ddcf5ede8c8698d383eb4340a1d951d2f70c98bdc129)