Please note that a Twitter Spaces held by https://twitter.com/BalancerLabs has been scheduled to discuss this proposal and answer any community questions before it proceeds to a snapshot vote.
February 9th at 12pm EST please tune in on twitter.
See you there!
thanks for this proposal Fernando! Looking forward to it been implemented.
hi @solarcurve, I saw this in the indexcoop metagov vote and I am catching up. Was there a recording of the twitter spaces you can share? Thanks!
Great proposal @Fernando - looking forward to seeing this come to fruition!
Overall it seems solid - and ties in nicely with the swap/protocol fee changes proposed in other posts here. Will be great for LPs and stakers to have the long term predictability of the emission and tokenomics.
Also interesting to see that the future total supply will come down to 94m from the 100m listed on Coingecko (might want to update this) - effectively increasing the âvalueâ of the current emission by 6%.
One thing that jumps out to me is the gauge type weights. I believe that Ethereum mainnet pools should receive an even larger share of the overall emission, as this is the homeland of Balancer and the place where most economic activity happens for now. I also think that veBAL should receive less of the emission, which would further incentivise veBAL holders to act in the best interests of the project by increasing the overall revenue of the Balancer system.
Thus I propose to reduce veBAL to 8%, and then increase Ethereum pools to 64%, diluting the other pools.
Any estimates for a snapshot vote going live for this proposal?
already happened awhile ago
Congratulations to the entire Ballers community - excited to see this go live over the next few weeks.
Been following this proposal for a while now and there has been a constant need for voting and staking on low gas environments like Polygon. I know @Fernando and the team want to start everything with Ethereum to minimize smart contract risks and time to market of veBAL.
But over the past year many teams including AAVE, TokeMak, PoolTogether and few more have chosen Polygon for their DAO voting as its gasless here. And the votes/execution of the decision is sent in a permissionless way to ETH L1 via FX portal bridge. Happy to guide the team/DAO on how to make this a reality and make Balancer more accessible to the masses and new entrants in the world of DeFi.
References
FX Portal for L1-L2 arbitrary smart contract exec
AAVE cross chain governance bridge (in prod)
I realize that this is already approved/being shipped but I was curious about what this means for smaller users (i.e. not whales/DAOs/partner protocols)
Curve contracts on L1 are notoriously gas-heavy and currently not cost-effective for anyone with <5ETH or so in gauges (depending on which pools youâre in) â between the gas fees for staking/voting/claiming and the low âimpact per weiâ that a regular userâs vote carries itâs not really worth bothering with, or sometimes not even worth the gas to claim/unstake/withdraw.
EDIT: re-read the quoted passage in my second question, which already answered it