# \[BIP-716\] Enable USDC/GYD Gauge \[Ethereum\]

**URL:** <https://forum.balancer.fi/t/bip-716-enable-usdc-gyd-gauge-ethereum/6040>\
**Category:** BAL Gauges\
**Created:** [October 4, 2024, 10:55am UTC](https://forum.balancer.fi/t/bip-716-enable-usdc-gyd-gauge-ethereum/6040 "2024-10-04T10:55:43Z")\
**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:** [October 4, 2024, 10:55am UTC](https://forum.balancer.fi/t/bip-716-enable-usdc-gyd-gauge-ethereum/6040/1 "2024-10-04T10:55:43Z")

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PR With Payload

> <https://github.com/BalancerMaxis/multisig-ops/pull/1421>
>
> Proposal: https://forum.balancer.fi/t/bip-xxx-enable-usdc-gyd-gauge-ethereum/604…0

**Summary**

> This is a proposal to enable one uncapped Balancer gauge on Ethereum for a USDC/GYD E-CLP.

**References/Useful links**

> 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)

**Protocol Description**

> - GYD is a USD denominated meta-stablecoin, issued by [Gyroscope](https://gyro.finance/).
> - USDC is a USD denominated stablecoin, issued by [Circle](https://www.circle.com/en/usdc).

**Motivation**

> This USDC/GYD pool has a tighter price range (1 +/- 4 bps) than the previously deployed [USDC/GYD pool](https://app.gyro.finance/pools/ethereum/e-clp/0xc2aa60465bffa1a88f5ba471a59ca0435c3ec5c1/) which has currently 1.3m USD in TVL. This pool is intended to better match the historic prices and low volatility of the included tokens.

**Specification**

> 1. **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.
> 
> 2. **Oracles:**
> 
> - ‘rateProvider0’: 0x00
> - ‘rateProvider1’: 0x00
> 
> 1. **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.
> 
> 2. **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.
> 
> 3. **Market History:** This USDC/GYD pool has a tighter range than the previously deployed [USDC/GYD pool](https://app.gyro.finance/pools/ethereum/e-clp/0xc2aa60465bffa1a88f5ba471a59ca0435c3ec5c1/) who has currently 1.3m USD in TVL.
> 
> 4. **Value:** This pool is intended to better match the historic prices and low volatility of the included tokens.

#### Contracts

> - E-CLP: [0x2875f3effe9ec897d7e4c32680d77ca3e628f33a](https://etherscan.io/address/0x2875f3effe9ec897d7e4c32680d77ca3e628f33a)
> - Gauge: [0x9c1a157cf8b242f67b3c950eda9a30b320bde9cd](https://etherscan.io/address/0x9c1a157cf8b242f67b3c950eda9a30b320bde9cd)

#### 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): `0x9c1a157cf8b242f67b3c950eda9a30b320bde9cd`  
> gaugeType(string): `Ethereum`

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<div class="post-metadata">

**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:** [October 10, 2024, 2:13pm UTC](https://forum.balancer.fi/t/bip-716-enable-usdc-gyd-gauge-ethereum/6040/2 "2024-10-10T14:13:08Z")

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[https://snapshot.org/#/balancer.eth/proposal/0xb05035263a2acdc555b35c4e496ae92834ce00fd5a9bf4594e8c4fb92af228a4](https://snapshot.org/#/balancer.eth/proposal/0xb05035263a2acdc555b35c4e496ae92834ce00fd5a9bf4594e8c4fb92af228a4)