PR with Payload
SUMMARY
This is a proposal to enable a veBAL gauge for the WBTC/pumpBTC pool on Ethereum.
References/Useful links
Link to:
• Website
• X
• Discord
Protocol Description
PumpBTC serves as a Liquid Staking Solution for Babylon. Its mission is to bring DeFi into the Bitcoin ecosystem, driven by an ecosystem-centric approach and supported by seasoned DeFi experts and industry-leading partners.
By abstracting complexities, PumpBTC facilitates effortless collaboration between users and Babylon. Users can stake into Babylon with a single action through PumpBTC, immediately receiving liquidity tokens without waiting periods.
Inspired by the “pump” meme culture in the Bitcoin community, PumpBTC aims to help BTC holders maximize yields through Babylon’s liquid staking - essentially rebuilding WBTC/BTCB with native yield.
The historical price of pumpBTC can be found here:
https://www.coingecko.com/en/coins/pumpbtc
Motivation
PumpBTC is launching further strategic pools.
Specifications
Governance
The governance token has not been released yet.
Oracles
RedStone: 0x85C4F855Bc0609D2584405819EdAEa3aDAbfE97D
Audits
Centralization vectors
No centralization vectors.
Value
The balancer pool is one of the few LRT pools on Ethereum and is aimed at providing liquidity to the growing community. Additionally, pumpBTC will always be pegged 1:1 with WBTC, and users can instantly withdraw at any time.
Market History
Market history and protocol information can be found here on the PumpBTC Dune dashboard - https://dune.com/pumpbtcintern/pumpbtc-summary
Value
The WBTC-pumpBTC pool on Balancer is intended to serve as one of the primary liquidity sources for the token on Ethereum. The pairing of WBTC with pumpBTC will maintain the originally intended smooth trading experience, while yielding more rewards for the liquidity providers.
Contracts
pumpBTC on Ethereum: 0xf469fbd2abcd6b9de8e169d128226c0fc90a012e
WBTC/pumpBTC Base pool on Balancer: Liquidity Pool (v2): Balancer pumpBTC/wBTC
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): 0xDFaD195F91e1591ae8Eb4c1c7183185CeF58864D
gaugeType(string): Ethereum