References/Useful Links
Website: humpysgold.eth.limo
Twitter: @gold_on_chain
Discord: $GOLD Official
Docs: HumpysGold · GitHub
Coingecko: GOLD Price Chart
Protocol Description
GOLD is an early, community-driven project that is nested within the Balancer ecosystem and founded by Humpy. Presently, GOLD benefits from Humpy’s large share of Balancer Governance and has created a mutually beneficial relationship across multiple networks by bringing Balancer deployments healthy trading fees and needed liquidity.
The project has established itself on Base and Arbitrum networks, and has successfully launched products including the GoldAURA Pounder, an Aura Autocompounding Vault that offers competitive rates to AURA holders (which indirectly supports the Balancer community) and uses a portion of protocol fees to buy and burn GOLD.
Background
Following the recent yETH exploit on November 30, 2024, which resulted in approximately $9 million in losses, the Balancer emergency subDAO executed a gauge kill transaction to disable further BAL rewards on the affected 60GOLD/40st-yETH gauge. This action was necessary to protect the protocol and its liquidity providers from continued exposure to the compromised asset.
Moving Forward with wstETH
In response to this incident, the GoldenBoys community has swiftly deployed a replacement pool pairing GOLD with wstETH, Lido’s battle-tested wrapped staked ETH token. This transition maintains our Ethereum presence while ensuring security and stability for our liquidity providers.
The Gates are Open
$GOLD has already been successfully deployed on Ethereum for a while: https://etherscan.io/token/0x9deb0fc809955b79c85e82918e8586d3b7d2695a. The Stargates have also been aligned, allowing seamless bridging of $GOLD between its three chains.
With the new 60GOLD/40wstETH pool deployed on Ethereum, we are now ready to enable gauge rewards to support this strategic liquidity pairing.
Link to Gauge: Address: 0x8fb6ef455d…4c4535b81d6 | Etherscan
Liquid Staking Excellence
We are pairing GOLD with the battle-tested wstETH by Lido, the leading liquid staking token in DeFi. wstETH represents staked ETH that accrues rewards through rebasing, providing both yield and liquidity to holders. With over $30 billion in total value locked, Lido has demonstrated unparalleled security and reliability in the liquid staking space.
This strategic pivot not only addresses the immediate security concerns from the yETH incident but also positions the GOLD ecosystem with one of the most trusted and liquid assets in Ethereum DeFi.
This move, together with the launch of Balancer V3, will enable the Boys to cook up some absolutely unimaginable DeFi tech!
Let’s build a Golden future where everybody wins!
Technical Specifications
This is a proposal to enable the gauge 0x8fb6ef455dcb9cf747576ff36196a4c4535b81d6 on Ethereum, for the pool 0x849bAe578b9367c5b0f285E6EC52BA0db9b4Ed9D (60GOLD/40wstETH).
Transaction: The Omni Multisig eth:0x9ff471F9f98F42E5151C7855fD1b5aa906b1AF7e will interact with the GaugeAdderv4 at 0x5DbAd78818D4c8958EfF2d5b95b28385A22113Cd and call the addGauge function with the following arguments:
gauge(address): 0x8fb6ef455dcb9cf747576ff36196a4c4535b81d6
gaugeType(string): Ethereum
Vote Cap: 10%