Summary
This proposal seeks to deploy Balancer v3 on the Base Network. The deployment further positions Balancer to take advantage of Base’s growing adoption and aim to become a foundational DeFi protocol within the Base ecosystem.
Introduction
Base is an Ethereum Layer 2 (L2) rollup built on the Optimism OP Stack, designed to offer low-cost, high-throughput, and secure transactions. Base has emerged as a leading L2 with $3.5b in TVL.
Base benefits from its connection to Coinbase, offering unique opportunities for user onboarding, fiat-to-crypto bridges, and access to millions of Coinbase users.
Proposal Details
Motivations
- Access to Base’s Rapidly Growing Ecosystem: Deploying Balancer v3 on Base will position it within a burgeoning L2 network with a strong and rapidly expanding user base. Base’s adoption has been catalyzed by its integration with Coinbase’s extensive ecosystem, providing a gateway for millions of new users to explore DeFi and potentially Balancer.
- Enhanced Liquidity Opportunities: Balancer v3’s flexible AMM framework will enable efficient liquidity provisioning on Base, supporting the growth of existing dApps and fostering the development of new DeFi primitives. Balancer v3’s unique features, such as Boosted Pools, align perfectly with the diverse asset needs within the Base ecosystem.
- Continued Product Innovation: Deploying v3 on Base enables products such as QuantAMM to launch on Base as well. Gyroscope boosted ECLPs also become possible, and new ideas such as @mikeb’s priority fee taxing can be leveraged by v3.
- Utilize existing v3 integrations: Both AAVE and Morpho are available on Base and can immediately be leveraged for boosted pools.
Proposal
This proposal asks the Balancer community to authorize the deployment of Balancer v3 on the Base Network.
Timeline and Next Steps
Snapshot would go live this round. Expected deployment by end of January.
Conclusion
Deploying Balancer v3 on Base presents a beneficial opportunity to expand both ecosystems. Balancer can establish itself as a foundational DeFi protocol on a rapidly growing L2, while Base gains an additional liquidity solution to enhance its DeFi ecosystem.