Voting Actions 2024 - January 8th – 12th
Proposal: [BIP-528] Enable 80PAL-20WETH Gauge w 2% Cap [Arbitrum]
Vote: Yes, let’s do it
Reasoning: We support this proposal for a gauge change from the current PAL/OHM pool to the PAL/ETH pool, and no parameter changes are being requested. Paladin is a protocol with strong connections with the Balancer ecosystem, and we are happy to help promote that.
Proposal: [BIP-529] Enable sFRAX-sfrxETH gauge [Optimism]
Vote: Yes, let’s do it
Reasoning: This proposal asks for a gauge on Optmism for sFRAX/sfrxETH. Beethoven X is partnering with FRAX to make Balancer the liquidity place for all FRAX tokens. Balancer will also benefit from the protocol fee on interest-bearing sFRAX and sfrxETH in the pool (and the LPs). We support this proposal.
Proposal: [BIP-530] Enable sFRAX-FRAX gauge [Arbitrum]
Vote: Yes, let’s do it
Reasoning: The reasoning here is the same as the one on the Optimism pool: to incentivise liquidity on Balancer from FRAX tokens. The core pool status helps the pool generate voting incentives with part of the fees and is granted as one of the tokens is yield-generating. That boosts the rewards for LPs, potentially increasing the pool liquidity. This strategy makes sense to increase Balancer presence on Arbitrum, and we support the proposal.
Proposal: [BIP-531] Enable stERN/wstETH Gauge [Optimism]
Vote: Yes, let’s do it
Reasoning: This pool pairs a USD-pegged token ERN, on its staked version, stERN, to wstETH. Both pool components are yield-generating, bringing additional revenue to Balancer’s treasury. We support this proposal.
Proposal: [BIP-532] Enable ePENDLE/PENDLE Gauge w 2% Cap [Ethereum]
Vote: Yes, let’s do it
Reasoning: This proposal looks for a gauge for the ePENDLE/PENDLE pool to establish substantial ePENDLE liquidity on Balancer. ePENDLE comes for Equilibria, an Aura equivalent to Pendle, and the protocol will incentivise the pool.
Proposal: [BIP-533] Initiate Cooldown to Withdraw from BAL/AURA/ARB Pool on Arbitrum
Vote: Yes, let’s do it
Reasoning: Balancer is looking to remove most of the ARB liquidity on this pool, and this proposal will start the withdrawal (that has a 60-day cooldown). We support this proposal as we believe that this ARB could have a better use incentivising other pools on Arbitrum.
Proposal: [BIP-534] Re-enable 50tBTC/50WETH Gauge [Base]
Vote: Yes, let’s do it
Reasoning: After Balancer killed some gauges with BIP-515, the Threshold’s 50tBTC/50WETH pool was on this list. The protocol signalled that they wish to return to provide voting incentives to the ecosystem for their liquidity pool. We support this proposal as it brings capital to the voting markets.