PR with Payload
Summary
Treehouse proposes introducing a Balancer Gauge for the tETH-wstETH pool on Arbitrum without an emissions cap. Treehouse’s tETH-wstETH pool on Ethereum Mainnet successfully reached a TVL of $7M, with the gauge being a key driver of this success. We are confident that implementing a similar gauge will enable us to replicate this TVL on Arbitrum.
Motivation:
Treehouse is expanding its tETH offering to Arbitrum as part of our mission to enhance accessibility and reduce onboarding costs for tETH users. We have bridged tETH to Arbitrum and are in the process of establishing a Balancer pool. To further bolster liquidity, Treehouse Protocol is working to set up the tETH-wstETH (Arbitrum) Gauge on Balancer. Having a gauge will draw liquidity for our pool, and will be critical for facilitating seamless transactions for our protocol on Arbitrum.
Specifications
- Governance:
All ownable contracts are secured with a 5/7 multi-sig. Only the tETH contract is upgradable for future expansion plans. - Oracles:
tETH-wstETH exchange rate provider is based on wstETH as a base asset, it is not compatible with any pools aside from a wstETH pairing for the intended use of a rate provider. - tETH-wstETH Exchange Rate / Arbitrum
1. https://arbiscan.io/address/0x98a977Ba31C72aeF2e15B950Eb5Ae3158863D856. - Audits:
Treehouse Protocol has been audited by entities such as Fuzzland, Sigma Prime, and Trail of Bits. The reports can be viewed in the GitHub repository here. - Centralization vectors:
The centralization vector primarily involves the execution of actions in the strategy contract, which is done by a multi-sig appointed by the contract owner. However, all action contracts are well-defined, and the executors can only perform the whitelisted actions included in the strategy contract. - Market History:
tETH has reached a Total Value Locked (TVL) of $360M since its launch on 10th September 2024. The tETH-wstETH Balancer pool has been in inception since 23 October 2024. More information about tETH and the Treehouse Protocol ecosystem can be found on our Dune Dashboard.
tETH-wstETH pool on Arbitrum: Liquidity Pool (v2): Balancer tETH/wstETH
— Child gauge https://arbiscan.io/address/0xc7995A4bA51574Ecd93e777cded6900ce42ff805#code and.
— root gauge ArbitrumRootGauge | Address 0x870D8Fd230a6261DB8d4C168038E55AE3a7Eb4B2 | Etherscan
- Value:
The tETH-wstETH pool on Balancer is designed to be a key source of liquidity for the token on the Arbitrum network. By pairing tETH with wstETH, the pool aims to provide a seamless trading experience while also offering enhanced rewards for liquidity providers. This structure is intended to optimize both liquidity and profitability within the ecosystem. In addition, users who stake their tETH-wstETH LP tokens will be able to earn points from our current ongoing points program.
Relevant Links
Technical Specification
The Balancer Maxi LM Multisig e0xc38c5f97B34E175FFd35407fc91a937300E33860 will interact with the GaugeAdderv4 at 0x5DbAd78818D4c8958EfF2d5b95b28385A22113Cd and call the addGauge function with the following arguments: gauge(address):0x870D8Fd230a6261DB8d4C168038E55AE3a7Eb4B2
gaugeType(string): Arbitrum