[BIP-XXX] Enable bb-a-USD Gauge [Optimism]

BAL Gauges
1

Summary

This is a proposal to enable a bb-a-USD gauge on Optimism.

Protocol Description

The Aave Protocol is a decentralized liquidity protocol that is deployed across many EVM compatible networks including but not limited to Optimism, Arbitrum, Avalanche and Polygon.

Currently, the Aave Protocol has a TVL of approximately $5 Billion.

References/Useful links

Motivation

This proposal aims to add a veBAL gauge for the Balancer Aave v3 Boosted Pool (bb-a-USD) on Optimism.

This pool uses the ComposableStablePoolFactory-v5 which addresses the reentrancy vulnerability disclosed during February 2023 and the more recently via this tweet.

This gauge is uncapped, and would enter as a “core pool” under BIP-19. A portion fo the yield also allocated to bribes via Hidden hand there is a feedback loop which helps sustain the pool.

Specifications

  1. Governance: AAVE and stkAAVE serve as the governance tokens for the Aave DAO. Holders can vote on proposals at both a Snapshot level and through the Aave DAO on-chain governance portal.
  2. Oracles: Aave uses Chainlink oracles for price feeds.
  3. Audits: You can find a record of audits of Aave v3.
  4. Centralization Vectors: Aave Governance is decentralized, and all changes must go through a transparent and well-tested governance process.
  5. Market History: There is a long history of bb-a-USD as a successful boosted pool within the Balancer protocol.

Pool Address:
Gauge Address:

Disclosure

This proposal is the sole work of @Llama contributor, @Matthew_Graham, via the legal entity TokenLogic. Llama is a Service Provider to Aave DAO.

2

@Llama Thanks for the proposal.

For this proposal to make it to snapshot we need

  • the appropriate pool deployed. We suggest you coordinate with the Beethoven-X DAO contributors. Aave Wrappers should be ready
  • Then coordinate with us on the gauge deployment on mainnet

After that we can prepare payloads and the snapshot vote accordingly. Thank you.

3

As @Xeonus mentioned, please get in touch with Beethoven X Dao contributors on the deployment of the pool. The new composableStable factory is ready.