PR with Payload
This proposal closely follows the template provided at Balancer Alliance Proposal Template pursuant to BIP-812 (forum post, snapshot vote).
Rocket Pool Balancer Alliance Program Proposal
Rocket Pool Incentive Management Committee multisig address: eth:0xb867EA3bBC909954d737019FEf5AB25dFDb38CB9
Why Rocket Pool Qualifies to be a Balancer Alliance Member
As can be seen in our incentive committee’s tracking spreadsheet, Balancer metastable pools have been the core of our liquidity strategy from the day we started in fall of 2022. This includes the core rETH-WETH pool, L2 rETH-WETH pools (on optimism, arbitrum, and base), and for a long while also full-range RPL-rETH. In addition, rETH is a fairly common asset pair that others use – we can’t take credit for that volume, but it’s a pleasant synergy.
Initially, there was essentially no other choice to provide liquidity around an oracle value. Nowadays, Curve offers a very similar product and custom liquidity shapes are available to differing degrees from other competitors such as Bunni. That said, there is certainly intangible value in the strong working relationship RPxBalancer have maintained throughout. This has helped when issues have arisen, such as needing to migrate the arbitrum pool, or responding to a known potential abuse vector in the early days of Hidden Hand, or wanting to dig into metrics a number of times.
We can also take a look at the balancer-provided Lifetime Protocol Fees query filtered on the word “reth”.
As @zendragon already noted, the mainnet pool meets the grandfathering criteria and thus make us an eligible partner. We would also like the proposed fee share to apply to the L2 pools.
Proposed Alliance Pool List and Incentive Structure
We would like to enable revenue sharing for mainnet rETH-WETH regardless of our incentives. We have no plans to change our incentives – the value of our incentives is either RPL or ETH-denominated (depending on the ETH:RPL ratio; currently we are RPL-denominated). At current prices, our current incentive spend for this pool is just shy of ~$400k per year (and at peak prices this has been ~$400k per month). We execute on this spend using the Aura market on Paladin, with the option that switches to direct RPL incentives on the gauge if the bribe efficiency falls below ~1x.
| Asset Pairing | Network | Pool Address | Incentive Token | Expected $/week | # of weeks |
|---|---|---|---|---|---|
| v2 rETH/WETH | mainnet | 0x1e19cf2d73a72ef1332c882f20534b6519be0276 | RPL | $7600 | no plan to change |
| v3 rETH/aave-WETH | Arbitrum | 0x5418a64e0cdb20548ACB394f5D00a089BAf02161 | RPL | $640 | no plan to change |
| v3 rETH/aave-WETH | Optimism | 0x870c0Af8A1af0B58b4b0bD31CE4fe72864ae45BE | RPL | $440 | no plan to change |
| v3 rETH/aave-WETH | Base | 0xB7B8B3AfC010169779C5C2385ec0eB0477FE3347 | RPL | $580 | no plan to change |
We have been executing on the existing L2 pools using the Balancer markets on Hidden Hand (again our incentives are RPL or ETH-denominated depending on RPL value). For these pools, we would like to request that they be migrated to v3 using Aave boosted ETH as the pair (waEthWETH, I think). We are requesting no stablesurge hook at this time.
Cold Start Allocation
We would like to request $10k worth of BAL tokens to kickstart our veBAL position. As previously shown:
- we have relied on Balancer metastable pools as the core of our liquidity strategy the entire time we’ve provided liquidity
- we plan to continue using Balancer for the foreseeable
- we have fairly high lifetime revenues
- we spend heavily in the ecosystem
We are prepared to pair wETH from our end to the provided BAL when depositing into the veBAL system.
As a note – this consideration is significant to us. Thank you.
Special Considerations
It is our understanding that Balancer is looking to move to Paladin Aura market, but is not yet ready. We would like to request a few related details:
- For now, please keep incentives on the Balancer market of Hidden Hand for mainnet rETH-WETH. If we incentivize on Paladin Aura and Balancer incentivize on HH Aura, there is potential for voters to “double-dip”
- For the L2s, we don’t believe there is a conflict.
- Once Balancer are using Paladin, we request that QuestCloseType is set to DISTRIBUTE to mitigate inefficient periods.
We’re happy to talk through all of that, as well as the migrations for the L2 pools with the Balancer team as needed.
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Overall - very excited to see this strategy, and hoping to see solid value on both sides for a long time 
Technical Specifications
The DAO multisig 0x10A19e7eE7d7F8a52822f6817de8ea18204F2e4f will interact with BAL at 0xba100000625a3754423978a60c9317c58a424e3D by writing transfer, passing 0xb867EA3bBC909954d737019FEf5AB25dFDb38CB9 as recipient and the amount 9587 as
9587000000000000000000 which corresponds to $10k BAL as per 30d moving average price for 2025-05-06.
Furthermore the DAO multisig 0x10A19e7eE7d7F8a52822f6817de8ea18204F2e4f will interact with the SmartWalletChecker 0x7869296Efd0a76872fEE62A058C8fBca5c1c826C and call allowListAddress with contractAddress field set to 0xb867EA3bBC909954d737019FEf5AB25dFDb38CB9 as input value
*Maxis Edit:
- added base,OP, and arbitrum pool addresses
- added technical specifications and payload for BAL kickstart grant / token transfer
- add multi-sig whitelist so it can lock veBAL