[BIP-691] Enable gauge for GYD/wstETH E-CLP [Arbitrum]

BAL Gauges
1

PR With Payload:

Summary

This is a proposal to enable one uncapped Balancer gauges on Arbitrum for a GYD/wstETH E-CLP. We propose to only enable protocol fees of 50% once BAL rewards start. Initially, the entire protocol fee revenue will accrue to Balancer.

References/Useful links

Protocol description

  • GYD is a USD denominated stablecoin, issued by Gyroscope.
  • wstETH is a static wrapper of stETH. stETH is a yield bearing token that represents staked ether in Lido.

Motivation

Gyroscope is launching further strategic pools.

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 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 .
  • This is the first GYD/ wstETH pool.

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): 0xC11442Cdbe8901b36aeB7bE7F3f95B6a8ade394e
  • gaugeType(string): Arbitrum
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