PR with Payload
Summary:
Proposal to add IMO/ETH 80/20 on Base to the Balancer Gauge Controller, which, if passed, will become the primary liquidity for the IMO token and will serve as the basis for the future listings with our Partners. Gauge with 2% emissions cap deployed here : https://basescan.org/address/0x916d186b75aae4729fcd22260da15486dcca2e3d
References/Useful links:
Link to:
• Website: https://www.imo-invest.com/
• Documentation : https://www.imo-invest.com/docs/IMO_Lightpaper.pdf
• Github : Imo Invest · GitHub
• Twitter : https://x.com/IMO__Invest
Telegram : Telegram: Contact @IMO_Invest
Protocol Description:
IMO is a Real World Asset (RWA) Project on the Base Blockchain. IMO uses the rental incomes from several properties around the world to buy back and burn the IMO token, gradually reducing the supply over time. The main liquidity venue for the IMO token is the pool on Balancer on the Base blockchain. All information about the token distribution, properties etc… Can be found on IMO’s website.
Motivation:
To incentivize long term commitment of the project, the IMO project is going to use the Balancer ve8020 system. There are slight differences between our approach and the classical ve8020 Launchpad. Standard ve8020 Launchpad uses a single recipient gauge to concentrate all the rewards, while the IMO Invest System will leverage Aura to have boosted rewards. Hence, the IMO Invest Team is requesting the core pool status, which is justified with the IMO pool being the 3rd biggest pool by TVL on Base. The Voting Escrow system will use the Aura BPT receipt token along with the standard Balancer ve8020 Launchpad from Protofire. This ensures boosted rewards for stakers, while incentives and bribes can be given to Aura/Bal lockers. The IMO project will be committing IMO tokens for bribes through Hidden Hand, ensuring alignment between Aura and Bal lockers and IMO stakers.
The use of ve8020 is further incentivized by upcoming listing on big exchanges that will directly tap onto the onchain liquidity through the use of the 1Inch API. We expect a lot of volume from these listings, so using the Balancer BPT for staking allows stakers to gain yield from the volume.
The motivation for this gauge is also to launch the IMO DAO through the standard ve8020 contracts and the use of Snapshot for regular vote rounds.
Specifications:
This proposal seeks to request core pool status as the IMO:WETH 80/20 pool is designated as the primary liquidity source for our project (similar to [BIP-290]). At this time we will not deploy our own ve- / locking system and are therefore requesting a standard gauge with a 2% cap. A cap increase can be requested at a later date.
Governance:
• Governance will be conducted via Snapshot voting
Oracles:
• The core protocol does not rely on oracles.
Market History:
• The IMO token migrated from the BNB chain into Base in Fall 2024. This migration proved to be a great success for the project, tapping onto Base deep liquidity and volume.
• The Balancer 80/20 pool was deployed on October 14 2024 and has been the main liquidity venue of the IMO token on Base. The IMO team has seeded the market through a POL deposit (Originally 670k $, now worth over 3,5M $).
Value:
• The goal of this gauge and incentives program through Hidden Hand is to provide yield to IMO/ETH BPT Stakers, while allowing the process of a lot of volume through our upcoming listings.
Contracts:
Link to pool : Balancer DeFi Liquidity Pools
Link to Gauge (ETH mainnet):
https://etherscan.io/address/0x5b5bad6a124c5f45b4289908ba15ff0047928648
Link to gauge (Base L2) : https://basescan.org/address/0x916d186b75aae4729fcd22260da15486dcca2e3d
Technical Specification
The Balancer Maxi LM Multisig 0xc38c5f97B34E175FFd35407fc91a937300E33860 will interact with the GaugeAdderv4 at 0x5DbAd78818D4c8958EfF2d5b95b28385A22113Cd and call the addGauge function with the following arguments: gauge(address):0x5b5bad6a124c5f45b4289908ba15ff0047928648
gaugeType(string): Base
Edit Maxis:
- add payload