PR with Payload
Summary:
This is a proposal to enable uncapped Balancer gauge for instETH/wstETH pool on Optimism.
References/Useful links:
• 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
• Twitter: x.com
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! instETH is the isolated LRT that users get by depositing stETH.
stETH is a rebase token by Lido that also represents staked ether but instead of the exchange rate accumulation method, the staking rewards are given as extra stETH. Effectively, stETH always stays pegged 1:1 with ETH and stETH token balances are updated when the oracle reports the change in the total (initial deposit + staking rewards) every day. wstETH is the wrapped version of regular stETH which allows for stETH accumulation in the contract and turns the rebase model of stETH into the C-token model of other LSTs.
Motivation:
Substantially increase the liquidity of instETH on Optimism.
Specifications:
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Governance: ING holders participate in decision-making, influencing the protocol’s direction and policies, including the Node Operators, AVSs and restaking strategies.
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Oracles:
- Audits:
InceptionLRT undergoes security audits and checks to ensure the safety of user funds. Latest: Audit Reports | InceptionLRT Docs
- 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.
- Market History:
Market history and protocol information can be found here: https://www.coingecko.com/en/coins/inception-steth
- Value:
The pool is intended to be a major source of liquidity for instETH on Optimism and allow for a healthy stimulation of volume.
Contracts:
Specification:
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): 0xAc1305f2C08E961dcEd925b585c3882afCa8C1c5
gaugeType(string): Optimism