[BIP-752] Enable E-CLP gauge for weETH/wstETH [Base]

BAL Gauges
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Summary

This is a proposal to enable one uncapped Balancer gauge on Base for a weETH/wstETH E-CLP. The pool will have a swap fee of 5bps, of which 5% are forwarded to Balancer as protocol fees.

References/Useful links

Links

Protocol Description

  • weETH is an ETH LST, issued by EtherFi.
  • wstETH is an ETH LST, issued by Lido.

Motivation

This weETH/wstETH pool on Base is intended to complement a similar pool on Arbitrum.

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:
  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 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

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): 0x17c67CA47d472d16FBc09f0A0408edeE22180cEe
gaugeType(string): Base

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https://snapshot.box/#/s:balancer.eth/proposal/0xe8da337f651641f3bb7b13acf5f62334095f435a46e8421b55fe2ba15674fb6f