[BIP-XXX] Enable wUSDM/GYD E-CLP gauge [Arbitrum]

Summary

This is a proposal to enable one uncapped Balancer gauge for a wUSDM/GYD E-CLP on Arbitrum. We propose to only enable protocol fees once rewards start.

References/Useful links


Protocol description

  • "wUSDM is a wrapped version of USDM. USDM is a USD denominated stablecoin, issued by the Mountain Protocol
  • GYD is a USD denominated stablecoin, issued by the Gyroscope protocol

Motivation

Gyroscope is further expanding on Arbitrum and bootstrapping wUSDM/GYD liquidity on Arbitrum with the first respective pool.


Specifications

Governance

The Gyroscope Protocol will be governed by a DAO and relevant stakeholder with the full launch on Ethereum. For now, the FTL Labs multi-sig can pause the pool, change the swap fee and set the protocol fee. As a custom pool by Gyroscope, the E-CLP will be controlled by Gyroscope governance upon its launch.

Oracles

Audits

Audit reports by Nethermind, Trail of Bits, and Runtime Verification can be accessed here (the E-CLP is called the “CEMM” in these reports). In addition, the E-CLP code has been live in production on Polygon since November 2022.

Centralization vectors

No centralization vectors. The FTL Labs team’s multi-sig can - currently - pause the pool, change the swap fee and set the protocol fee.

Market History

  • The Gyroscope Protocol is live on Ethereum since EOY23, with E-CLPs on several other chains. Details available here .
  • This is the first wUSDM/ GYD pool

Value

As per “Motivation”.


Contracts


Specification

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): 0x9eCc698c20219Ea45697d82ca89cD044aEEACF60
gaugeType(string): Arbitrum