PR with Payload
Summary:
This is a proposal to enable the root gauge BaseRootGauge | Address 0x0D3F5D4022279c536a53aaa6bb8c225A0226d168 | Etherscan on Ethereum, [which redirects rewards to the child gauge https://basescan.org/address/0x7Ac2f85069470959f5960B6054479aD46dB4d818 on Base,] for the pool https://basescan.org/address/0x424d19d482a891b2c5cb881d651fbc32b349cb3c (surge yUSD/ waBasUSDC).
References/Useful links:
Link to:
• Website: https://yield.fi/
• Documentation: https://docs.yield.fi/
• Github Page: YieldFi · GitHub
• Twitter: https://x.com/getyieldfi
Motivation:
We have run incentives on our deployment of same pair on Arbitrum and saw the TVL grew to $700k+ in less than 2 months demonstrating demand for this liquidity pairing. As we have historically seen high demand on Base, compared to Arbitrum we are expanding this pair to base and by enabling gauge rewards, this pool will attract additional TVL, benefiting both protocols while creating one of the highest-yielding stable opportunities on Base.
https://dune.com/queries/4756760/7896201
This integration creates synergies between YieldFi, Balancer, and Aave, boosting activity across all three ecosystems.
Protocol Description:
yUSD is the yield bearing token by YieldFi deployed on Base and is backed by stablecoins like USDC/USDT/USR/wstUSR that strategically allocates assets across blue-chip DeFi protocols to generate 10-20% yields (currently 10.23% APY). The product features daily yield distribution, institutional-grade security, and full on-chain transparency.
waBasUSDC is the wrapped version of Aave’s interest-bearing aBasUSDC on Base, which allows users to earn yield from USDC deposits in Aave.
Specifications:
Governance: YieldFi operates with a multi-sig wallet requiring 3/5 signatures from core team members
Oracles: Oracles | YieldFi
Audits: Audits | YieldFi
Centralization vectors: The primary centralization vectors include the multi-sig custody and professional team management of yield strategies (necessary for optimal returns)
Market History: yUSD has maintained perfect positive yieldcurve with no drawdown since launch with zero instances of depegging.
https://dune.com/queries/4785783/7937254
Technical Specifications:
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):
0xGaugeAddress: https://basescan.org/address/0x7Ac2f85069470959f5960B6054479aD46dB4d818
0xRootGaugeAddress: BaseRootGauge | Address 0x0D3F5D4022279c536a53aaa6bb8c225A0226d168 | Etherscan
0xPoolAddress: https://basescan.org/address/0x424d19d482a891b2c5cb881d651fbc32b349cb3c
gaugeType(string): Base