PR with Payload
Summary:
This proposal aims to enable the 80VCX/20WETH gauge to participate in veBAL incentives
References/Useful links:
- Website: https://www.vaultcraft.io/
- Docs: https://docs.vaultcraft.io/
- Twitter: https://twitter.com/VaultCraft_io
- Discord: VaultCraft
- Telegram: Telegram: Contact @vaultcraft
- Medium: VaultCraft
- Etherscan: VaultCraft (VCX) Token Tracker | Etherscan
Protocol Description:
VaultCraft is an on-chain, permissionless protocol where anyone can spin up a vault — an automated asset strategy that optimizes returns on user-deposited funds. This is the first open infrastructure allowing for the modularization of vaults using a protocol-endorsed VaultFactory that ensures the safety of the strategy and its contracts. Vaults can interact with a variety of protocols through the ERC4626-Wrapper and are also stackable in design, meaning you can stack on top of other vaults.
VaultCraft utilizes veTokenomics to boost APY’s on Smart Vaults using oVCX (option-reward token) emissions. Users who LP into Balancer and vote-escrow their LP token can vote on oVCX emission distributions, earn bribes, and boost their yield on Smart Vault deposits.
Motivation:
As mentioned above, the 80VCX/20WETH pool on Balancer plays a critical role in the protocol’s tokenomic flywheel. Additionally, ensuring deep liquidity in this pool is necessary to meet the demand of sell pressure from oVCX emissions and the corresponding treasury buy & burn program.
VaultCraft has set a clear priority to integrate Balancer throughout the protocol’s building blocks. Using a Balancer 80/20 pool as the primary liquidity source, the Balancer LP token as the vote-escrow lock token, integrating Balancer and Aura as yield sources in the Vault Creation Interface (VCI), and listing Balancer LP token vaults with oVCX incentive gauges.
Specifications:
- Governance: VaultCraft utilizes DAO governance through Forum and Snapshot. Anyone can initiate a PIP in the Forum and veVCX (vote-escrowed Balancer LP token) is required to vote on Snapshot. Treasury and contract management are managed by 3/8 multisigs as approved in this proposal.
- Treasury multisig: 0x770F4e38615e24E9E438b30CFaBf411ec499f9B6
- Contract management multisig: 0xB85e0d4ad9078676Ca86C6bAa51228aB3E21F5da
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Oracles: VaultCraft uses the Balancer pool’s oracle for oVCX redemptions. oVCX redemptions allow holders to execute their call-option at a predetermined discount rate to the market price.
Defillama oracle is used for pricing. -
Audits: VaultCraft has been audited by firms such as BlockSec, Zokyo, and Salus, in addition to white-hat contractors, community contests (Code4rena), and an ongoing bug bounty program with Immunefi: 🛡️ Audits - VaultCraft.
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Centralization vectors: n/a.
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Market History: The Balancer pool was created on the 25th of November, 2023 and announced pulibcly with seed liquidity on the 1st of December, 2023. As of now, the 5th of December, the pool has accumulated ~$180k in TVL, ~$72k in volume, and VCX has appreciated roughly 4x.
- Pool: 0x577A7f7EE659Aa14Dc16FD384B3F8078E23F1920
- Gauge w 2% cap: 0x85d6840EaB7473b60F10d1a3E2452243eb702C97
- Value: Yes, the Balancer 80/20 pool is intended to be the primary source of liquidity for VCX and will be the only DEX officially promoted by VaultCraft and listed in any documentation.
Specifications:
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):0x85d6840EaB7473b60F10d1a3E2452243eb702C97
gaugeType(string): Ethereum