[BIP-731] Enable several E-CLP gauges [Base]

[jooooo5as]

PR with Payload

[BIP-XXX] Enable several E-CLP gauges [Base]

Summary

This is a proposal to enable four uncapped Balancer gauge on Base for a cbETH/wstETH E-CLP and for three differently calibrated WETH/USDC E-CLPs.

References/Useful links

Links

• Documentation of E-CLPs
• Website
• Github
• Discord
• X

Protocol Description

• cbETH is an ETH LST, issued by Coinbase.
• wstETH is a wrapped, static ETH LST, issued by Lido.
• WETH is a wrapped, ERC-20 compliant version of ETH.
• USDC is a USD denominated stablecoin, issued by Circle

Motivation

Gyroscope is strengthening its presence on Base. The three WETH/USDC pools cover different price ranges and assume different ETH prices. As such, they are concentrated around WETH/USDC 1900, 2600, and 3300.

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:

• cbETH/wstETH
  • ‘rateProvider0’: 0x3786a6CAAB433f5dfE56503207DF31DF87C5b5C1 and relevant review.
  • ‘rateProvider1’: 0x3b3dd5f913443bb5E70389F29c83F7DCA460CAe1 and relevant review.
• WETH/USDC 1
  • ‘rateProvider0’: 0x5E10C2a55fB6E4C14c50C7f6B82bb28A813a4748 and relevant review.
  • ‘rateProvider1’: 0x00
• WETH/USDC 2
  • ‘rateProvider0’: 0x3e89cc86307aF44A77EB29d0c4163d515D348313 and relevant review.
  • ‘rateProvider1’: 0x00
• WETH/USDC 3
  • ‘rateProvider0’: 0x3fA516CEB5d068b60FDC0c68a3B793Fc43B88f15 and relevant review.
  • ‘rateProvider1’: 0x00

3. 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.

4. 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.

5. Market History: All involved tokens are well-established DeFi staples.

6. Value: This pool is intended to better match the historic prices and low volatility of the included tokens.

Contracts

• cbETH/wstETH
  • E-CLP: 0x54D86E177cdC664B5F9B17eB5fd6A76Fa529e466
  • Child Gauge on Base: 0x0Cb9e522cA688C88af547A119279764F00F677C7
  • Root Gauge on Ethereum: 0xBDc908e5dF4A95909DD8cbdD5E88C4078a85f7fC

• WETH/USDC 1, centered at 1900
  • E-CLP: 0xbbb4966335677Ea24F7B86DC19a423412390e1fb
  • Child Gauge on Base: 0x5Ed3Cd1d293CC96E15216F90D83AeEB00340E2f1
  • Root Gauge on Ethereum: 0x3143F29F2d541B03D8526c265a54fBC727DA6565

• WETH/USDC 2, centered at 2600
  • E-CLP: 0x1529f6Af353E180867F257820843425B49B1b478
  • Child Gauge on Base: 0x0AC2AB71E19fB0929da93dFceC8b0389377a5a25
  • Root Gauge on Ethereum: 0xe8BED31b0245Cd174a182D18CD0DE0355A77151F

• WETH/USDC 3, centered at 3300
  • E-CLP: 0x4c42B5057A8663E2b1ac21685D1502c937a03817
  • Child Gauge on Base: 0xEdf537FFbc7C5ED4042AEdE5c0d2E14a41FdC121
  • Root Gauge on Ethereum: 0xE01347229d681C69f459176A042268Cf981DFaa4

Specification

Transaction: The Balancer Maxi LM Multisig eth:0xc38c5f97B34E175FFd35407fc91a937300E33860 will interact with the GaugeAdderv4 at 0x5DbAd78818D4c8958EfF2d5b95b28385A22113Cd and call the addGauge function four times with the following arguments:

1st addGauge function call
gauge(address): 0xBDc908e5dF4A95909DD8cbdD5E88C4078a85f7fC
gaugeType(string): Base

2nd addGauge function call
gauge(address): 0x3143F29F2d541B03D8526c265a54fBC727DA6565
gaugeType(string): Base

3rd addGauge function call
gauge(address): 0xe8BED31b0245Cd174a182D18CD0DE0355A77151F
gaugeType(string): Base

4th addGauge function call
gauge(address): 0xE01347229d681C69f459176A042268Cf981DFaa4
gaugeType(string): Base

[ZenDragon]

https://snapshot.org/#/balancer.eth/proposal/0xb066f1ecdc2cf736bfd54c97a0d102b17ef0747ecc1895126650764e6d169b2f