Solarcurve Delegate Thread

Name: Solarcurve aka balancermaxi.eth

Snapshot profile: Snapshot

Discord username/TG username: solarcurve#5075 / @solarcurve

I have read and understood the Delegate process: Yes

I understand that becoming a delegate is a significant commitment: Yes

My reasons for wanting to be a delegate:

I was a LP on Balancer v1 before the token launched - I was never a significant percent of the TVL but at times my 8 token 1% fee pool was responsible for a noticeable percentage of the 24h fees. My motivation for being a delegate is because I still believe Balancer has incredible potential and after being here for two years I can bring a lot of experience to the table. My focus will be on growing Balancer’s most important metric (revenue), pushing to minimize the amount of BAL we must sell to fund ongoing operations, and bringing value to the veBAL system.

My view on Fernando’s vision for Balancer:

I don’t disagree that projects building on top of us is important and should be an easy thing to do. However, I strongly believe we have all the tools necessary to be successful and gain market share entirely on our own - we don’t need to wait around for Element or Sense to hit it big. Curve and Uniswap have many projects building on top of them because they are the largest dex’s - the biggest advertisement we can make for why you should build on Balancer is for Balancer to become a bigger player in the dex market.

How do we gain market share? Embrace the veBAL flywheel, focus on revenue generation, move quickly to establish ourselves in promising L2’s. I have been pushing these items for a long time - I proposed raising the protocol fee to 50% (I proposed turning it on nearly a year ago), I pushed for a new pool factory that will apply the protocol fee to yield bearing tokens like wstETH and boosted pools, and I put together the deal with BeethovenX to put us in the best possible position to dominate Optimism.

There is much more to do though I think we are better positioned now than we’ve ever been to start gaining market share from Sushi and Curve in particular. As a delegate I will continue working towards these goals with as much transparency as possible.

My web3 interests: DAO’s, Governance, DeFi, some NFT’s here and there. I believe we should rely on veBAL voters to make good decisions rather than put rules in place that make decisions for them - I have done my best to help design Balancer’s governance system with this in mind.

Languages I speak/write: English

My skills and areas of expertise: I have been in the Balancer community for two years so I have some first hand experience in DAO’s and Governance. I’m also an avid reader of governance forums. I consider myself DeFi native and was a user of protocols like Uniswap, Curve, and Balancer before they launched tokens.

Other web3 projects I’m involved in:

Advisor to BeethovenX, otherwise most of my interactions with other projects are on behalf of Balancer.

6 Likes

Introduce ProtocolFeesWithdrawer

https://snapshot.org/#/balancer.eth/proposal/0x957a15d3809f703338b7f830df61a57dd5247d0d0bc14bf55bb77bd8986d7bb5

Voted yes. Fee withdrawals and distributions should resume as normal starting next week. Credit to Balancer Labs for moving quickly on a fix to the recently disclosed SNX bug.

1 Like

Enable CREAM/WETH 80/20 Gauge [Ethereum]

https://snapshot.org/#/balancer.eth/proposal/0xa8ef52b06d2e5742e9068582276e878441c29a924e8bb2a9c26686d5284a9106

Voted yes. I generally support adding more gauges which should lead to more projects participating in veBAL.

1 Like

Allowlist Pickle Finance in veBAL Voting Escrow
https://snapshot.org/#/balancer.eth/proposal/0x2f746dedc0f399ebac3d3bbcc9f765a7f847b9cce62a53137b040a5e8e6f0ba4

Voted yes. I support having many diverse systems built on top of veBAL - let the market choose which one is the best, not Balancer governance. Credit to the Pickle team for putting in the effort on this proposal.

Form the Emergency subDAO
https://snapshot.org/#/balancer.eth/proposal/0x63fab7ab9ef5b9579dabb82058b8ea309e39c766d435438b55fff8db7c1f69fd

Voted yes. This is a necessary protection in the unlikely event a gauge becomes malicious. This guy taking advantage of the element pools had a good run though.

1 Like

Allocate 31,250 BAL for Optimism Incentives
https://snapshot.org/#/balancer.eth/proposal/0xf1eb5c0e79020e29111150ee4efd1cb4b23799bddd6baf6d562f9292adb4826b

voted yes. A new Balancer is arriving… soon™

Amend the Agreement with 1inch
https://snapshot.org/#/balancer.eth/proposal/0x7a865dcd5ca81f643d493c37d0ce855eedf864f777c703885fe5fa7474cc10a1

voted yes. my mistake on this (rip)

2 Likes

Enable PAL/WETH 80/20 Gauge [Ethereum]
https://snapshot.org/#/balancer.eth/proposal/0xacfe21207c80680bfbc259ffeb4aa27cdf854cb092e6b8aad4f7b8b3a0cbc9b5

Voted yes. Nice to see a project go from LBP to adding a gauge.

Whitelist Stake DAO to lock BAL
https://snapshot.org/#/balancer.eth/proposal/0xaa18205c59f7d8a176332314e1e6223b3f9836a992e7dfabb1e2b3fefea723f7

Voted yes. bring on the convex layer wars!

3 Likes

TribeDAO: boost delegation
https://snapshot.org/#/balancer.eth/proposal/0xea5d85ea83360d496e5154ed92d2f247c8269296095810d94cf50ca6c9044528

Voted yes. let’s help our TribeDAO frens

Introduce ChildChainGaugeTokenAdder
https://snapshot.org/#/balancer.eth/proposal/0xcf17f3174f1d80783c2506362fd8d8b762e9c376122ab8ac31d8782e371cf19f

Voted yes. Let’s get some new token incentives going on L2’s!

Send back 3CRV stuck to Stake Dao Multisig Address
https://snapshot.org/#/balancer.eth/proposal/0x8cdec0e2b5510ab824ad887cf015c3efba0e999c8d9c0f05c4b6a7fc62c39971

Voted yes. Helping our frens at StakeDAO

Allocate BAL to a Ribbon Finance Vault
https://snapshot.org/#/balancer.eth/proposal/0x54d9df33e17f3cf2cc8259b356be2d80b79129c092001df89dcdd8d2fa3d44c4

Voted yes. This puts idle BAL to work in a way that cushions downside risk to BAL price. It will result in some losses if BAL goes up significantly, though in my view this is an acceptable risk.

BIPs 1-6

voted Yes on all

BIP 7-13

voted Yes, all standard.

BIP 14-17

voted yes, all standard

BIP 18

Abstained due to conflict of interest as this is the funding proposal for an SP I contribute to.

2 Likes

[BIP-19] Incentivize Core Pools & L2 Usage

Voted yes. This is probably the most important vote Balancer will ever see as it will determine if we set the protocol on the path to sustainability or remain captured (perhaps indefinitely) by outside interests looking to extract maximum value from us.

[BIP-20] Funding Proposal for Orb Collective

Voted yes. It is a lot of money (far more than Balancer is earning currently) but there is great talent and passion here. This is a bet that we will reach sustainability in the next couple of years with the help of the great team at Orb.

[BIP-21] Funding Proposal for Ecosystem Ops and Development Squad

Voted no. I don’t see value being added that is in line with the requested spend. Luuk has taken max salary for six months in the DAO with little if any results to show for that - even if we could spare the funds I’d still rather allocate them towards initiatives that have a clearer path towards creating value for the protocol. Orb is fully capable of executing on partnerships without Luuk’s assistance and the “DAO” has no need for any admin services.

[BIP-22] Fund Balancer Grants for Q3

Voted yes. Burns & Zen Dragon are capable leaders and are joined by great committee members like zekraken and John. Frankly we are lucky to have these folks doing grants for us.

[BIP-23a] AURA/ETH/graviAURA Gauge [Ethereum]

Voted no. While I give Badger a ton of credit for developing this system of their own initiative the simple fact is core pools solves the same problem graviAURA does, only without giving Badger 10% of voting power and 3-5% in various fees. If core pools fails then graviAURA becomes more interesting to me - otherwise, I believe going with core pools only is the best option for Balancer.

[BIP-23b] auraBAL/ETH/graviAURA Gauge [Ethereum]

Voted no for same reason as above

[BIP-24] Allocate BAL to a Ribbon Finance Vault

Voted yes. There are many flaws with this - namely predatory pricing of options in favor of the MM and possibility of significant losses in a bull market - but the goal is protecting against a downside scenario where BAL is low single digits for years. We have significant funding costs to carry as an ecosystem - if BAL price goes up and we lose on this that’s actually great because we should be earning a lot more money from protocol fees. If BAL price goes down this will help us not have to market sell as much BAL to pay people’s salaries.

[BIP-25] Enable AURA/ETH 50/50 Gauge

Voted yes. Aura & Balancer are best friends and the AURA pool has already generated a lot of fees for us in its short life span.

[BIP-7] Enable auraBAL/[8020 BAL/WETH bpt] Gauge [second vote]

Voted yes. This is necessary for auraBAL to return to peg and begin growing again. If this occurs it will be VERY good news for Balancer.

1 Like