StableNode Delegate Thread

Delegate Citadel
1

Name: StableLab

Delegate Address: stablelab.eth

Governance tracking: Boardroom, Internal tracker

Forum: @Bobbay_StableLab

Discord: Bobbay#4885

Twitter: https://twitter.com/Stablelab

Blog: https://www.stablelab.xyz/blog

Languages: English, Spanish, German, Dutch, Romanian, Korean, Chinese

ABOUT

StableLab is a governance firm focused on professional delegation, DAO framework design and product development. We work with various projects, from the ones just starting their journey to decentralization to the most prominent DeFi protocols.

Our systematic framework for DAOs covers governance methodologies, decentralized workforce, implementation, documentation, communication and community engagement. There is no one-size-fits-all approach, but we provide a framework of principles and tools we have developed throughout our experience.

We scale DAOs sustainably.

EXPERIENCE

We are the leading professional delegate team with a track record across major DeFi protocols, including MakerDAO, Optimism, Aave, 1inch, Balancer, Element, InstaDapp, Hop and more.

We pioneer delegation work through high governance standards, extensive research, hands-on expertise and the consistent use of a code of conduct. Pushing forward web3 and DeFi since 2018, StableLab’s co-founders previously spent 3.5 years at the Maker Foundation.

1600Ă—900 162 KB

Governance delegates and roles currently (or previously held by StableLab).

View all our proposals, votes and milestones at stablelab.xyz /governance.

VALUES & CONDUCT

A. VALUES - A.R.T.

  1. Active: We participate in every aspect of the governance process, from creating and presenting proposals to providing feedback in the forums and actively voting.
  2. Research: Our decisions are backed by a team of experienced researchers and PhDs.
  3. Trust: We act unbiased and transparent, according to our code of conduct - driven by a strong set of ethics and values.

B. DELEGATE CONDUCT

  • Use values to guide actions.
  • Maintain impartiality and transparency in participation.
  • Rely on data, research and prior expertise for proposals and votes.
  • Apply battle-tested internal policies for consistency.
  • Consult with the team for quality outcomes.

Why Balancer

We see it as a journey of exploration and experimentation as Balancer expands beyond its role as a leader as an AMM, instead becoming a tool for protocols to reach their own vision. Open-source protocols like Balancer are the greatest contributors to the space as they prioritize collaboration over competition, and this is why we look forward to being a delegate at Balancer.

DISCLOSURE

Through our holding company, we have invested in multiple projects to advance growth and governance for them. See the full list here.

We contribute to various protocols’ governance, such as MakerDAO, Optimism, Aave, 1inch, Balancer, and Element. See the full list here.

When applicable, we will disclose potential conflicts of interest in our rationale.

WAIVER OF LIABILITY

By delegating to StableLab, you acknowledge and agree that StableLab participates on a best efforts basis and StableLab will not be liable for any form of damages related to StableLab’s participation in governance.

5 Likes
2

Introduce ChildChainGaugeTokenAdder

Vote: Yes

It’s important to get gauges working on other chains in a safe and secure manner.

Send back 3CRV stuck to Stake Dao Multisig Address

Vote: Yes

Clear answer. We should support StakeDAO in recovering their tokens.

TribeDAO: boost delegation

Vote: Yes

No risk to us and it builds a good relationship with Tribe. This migration supports them greatly.

Allocate BAL to a Ribbon Finance Vault

Vote: No

It is quite a big risk for such a small reward. For 12% of our treasury, we should consider the worst-case scenario and that is losing over $4m which is a large sum. We could reconsider using 5% of the treasury, lower reward but less exposure.

I think it is great to explore different opportunities like these but the risk is too much and we can explore safer options. For future situations, it would be good to see more simulations using a variety of balances and outcomes so we have various outlooks.

1 Like
3

Hi @Bobbay_StableLab, it’s great to see StableNode here!

I apologize if this has been mentioned somewhere that I missed, what is the address your using for voting and being a delegate?

4

Hey @LongJuanSilverado, here it is.

ENS name: stablenodegov.eth

or address: 0x1D1a13b16667c284b87de62CAEEfF0ce89E342B2

Both should work

2 Likes
5

[BIP-1] Operating Framework for Balancer DAO

Vote: Yes

A good start in the direction of formalizing working groups.

[BIP-2] Allowlist GnosisDAO’s treasury in VotingEscrow

Vote: Yes

Gnosis is a long-term partner and it will great to see them get involved in governance.

[BIP-3] Allocate BAL towards Ethereum<>Optimism Bridge Liquidity

Vote: Yes

Great way to help users avoid the 7-day withdrawal period.

[BIP-4] Implement New Gauge Requirements

Vote: Yes

This sets a good standard for the future and hopefully prevents further situations similar to the incident outlined in the proposal.

[BIP-5] Tribe DAO: Unclaimed BAL Rewards

Vote: Yes

Even though it is a Tribes mistake it is a sign of good faith from Balancer.

2 Likes
6

[BIP-6] Execute SNX Recovery Coordinator

Vote: Yes

This is necessary to help the “affected funds”

1 Like
7

Proposals 7-13

We voted yes on all of the proposals. Most were around whitelisting or enabling gauges except proposal 9.

Proposal 9: Due to the increase in veBAL supply, it makes sense to increase the quorum to 200k.

We have some worry that not all votes will pass as there might be decreased participation due to current market conditions. We need to make it easier for people to delegate, so there is more active voting power to pass proposals.

1 Like
8

BIP-14
Vote: Yes

This helps the DAO become more autonomous and it is a sign of our first steps to further decentralization, especially with SPs.

BIP-15
Vote: Yes

This will help contribute to Balancer. We believe that this gauge will help increase revenue to the protocol.

BIP-16
Vote: Yes

An increased pool of reliable signers would help. Especially in the case of an emergency.

BIP-17
Vote: Yes
It is only right that we honour our agreements to agreed-upon situations.

BIP-18
Vote: Yes
They are a key part of the organisation and contribute to many departments. We look forward to seeing the maxi team expand in the future.

4 Likes
9

[BIP-19] Incentivize Core Pools & L2 Usage

Vote: Yes

[BIP-20] Funding Proposal for Orb Collective

Vote: Yes

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

Vote: No

[BIP-22] Fund Balancer Grants for Q3

Vote: Yes

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

Vote: No

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

Vote: No

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

Vote: Yes

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

Vote: Yes

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

Vote: Yes

2 Likes
10

[BIP-26] Enable MAGIC/USDC Gauge [Arbitrum]

Vote: Yes

The team has an open-mind to adjusting their pools and we support it in a 50-50 split. We hope to see a fruitful partnership between Treasure and Balancer in the future. Magic/USDC is a great alternative to the more common MAGIC/ETH

[BIP-27] Enable DIGG/wBTC/graviAURA 40/40/20 Gauge [Ethereum]

Vote: No

The volume for digg isn’t too high and with this approach we don’t see a large value add to Balancer. It is an interesting multi-token approach and we look forward to seeing other protocols potentially using it.

[BIP-8] Enable TetuBAL/20WETH-80BAL Gauge [second vote]

Vote: Yes

This is a great win-win situation and will help strengthen the liquidity on polygon.

3 Likes
11

[BIP-28] Kill CREAM/WETH Gauge [Ethereum]

Vote: Yes

The Cream gauge is not a win-win partnership for Balancer as emissions aren’t fairly matched by protocol fees. This is not sustainable for the long-term and will hinder Balancers’ progress. Gauges are meant to create a win-win for both parties as the aim of these emissions is to help bootstrap Balancer’s growth, but the CREAM/WETH Gauge do not fit this.

This is a good learning curve for us to understand what we expect from gauges, and maybe it’s something we should detail a bit further so we as a community can recognize a productive and unproductive gauge.

3 Likes
12

[BIP-29] Introduce GaugeAdder v2

Vote: Yes

This is a good step forward in making gauges safe and more effective.

[BIP-30] Purge Unused Gauges

Vote: Yes

They receive little to no votes, so it makes sense to remove these gauges since they don’t bring value to Balancer. People are more than welcome to “re-activate” gauges, so we do not see an issue with this.

[BIP-31] Authorize the Batch Relayer v3

Vote: Yes

It is important to sort the vulnerability out soon rather than later.

[BIP-32] Funding Proposal for Daoism Systems: PROTOCOL REVENUE SHARING FOR POOL & FACTORY CREATORS

Vote: Yes

We look forward to having external teams join Balancer in the new SP format and believe DAOism will bring value to the Balancer ecosystem.

[BIP-33] Orb Marketing Budget Proposal for the Remainder of Q3

Vote: Yes

The proposal included every detail necessary to support their request. We look forward to seeing the fruits of the labour.

1 Like
13

[BIP-30] Purge Unused Gauges [second vote]

Vote: Yes

Similar to our last vote.

We believe this is a good step in trimming Balancer. Many too emissions were not providing value back to Balancer, and we need to prioritise gauges that create a win-win solution, for both gauges and Balancer.

[BIP-34] Enable the 50/50 RBW/wETH Gauge on Polygon

Vote: Yes

RBW has had a recent slump in volume, but that is due to the current market conditions. They are quite popular on Polygon and will hopefully drive a fair amount of fees to Balancer.

[BIP-35] Whitelist the Laguna Games’ Gnosis Safe for Balancer’s Voting Escrow

Vote: Yes

It’s always great to see protocols get involved in the governance activities of Balancer. We need to see more actors get involved.

[BIP-36] Enable TEMPLE/DAI 80/20 Gague (Ethereum)

Vote: Yes

Initially, we weren’t sure about this due to the current purge narrative.

However, as they plan to deploy a fair amount into the Balancer LP + get involved in governance, we think this should be fine. We want to keep an eye on this pool and review it soon though.

2 Likes
14

[BIP-37] Allocate BAL Liquidity to Polygon & Arbitrum Multichain Bridge

Vote: Yes

This simplifies a user’s flow of bridging BAL; even though fees won’t be earned through this liquidity, it will indirectly support the protocol.

[BIP-38] Request for BAL Allocation to Orb Collective

Vote: Yes

It follows their original schedule and should be held.

[BIP-39] Repay Aura Treasury for Unclaimable Rewards

Vote: Yes

Since this was a fault of Balancer rather than Aura, it is only fair to compensate Aura for this inconvenience.

2 Likes
15

[BIP-40] Enable FOLD/ETH 50/50 Gauge [Ethereum]

Vote: Yes

This is an excellent addition to the Balancer ecosystem, with the 50/50 pool & a somewhat acceptable MC.

[BIP-41] Whitelist THX Network Gnosis Safe multisig for Balancer’s Vote-Escrow

Vote: Yes

It is great to see THX get involved in governance since they have been with Balancer since the beginnings.

[BIP-42] Enable rETH/weth Metastable Gauge [Optimism]

Vote: Yes

Optimism gauges are part of the plan, and this is a great start. We look forward to seeing how the gauge performs on Optimism and onboarding further gauges.

2 Likes
16

[BIP-43] Redeem Treasury FEI for USDC

Vote: Yes

Practically, it’s much easier to use USDC over FEI, since most of the DAO expenses are in USDC.

[BIP-44] Support Balancer Space delegation on Snapshot for vlAURA holders

Vote: Yes

Makes complete sense as it allows vlAURA holders to now delegate to Balancer delegates, rather than only having Aura delegates as the option

[BIP-45] Balancer LP BAL into MLP

Vote: Yes

Equal partnership for both BAL and MYC. DAO treasury will earn other assets and diversify without too much risk. I would prefer if they had still completed an audit.

[BIP-46] Enable SILO/ETH Gauge on Ethereum

Vote: Yes

Supporting this now, but depending on how it goes, its worth reviewing its success shortly.

[BIP-47] Balancer <> Across Protocol for Bridging Tokens Across Chains

Vote: Yes

With the issues with multi-chain, it’s ideal to have multiple bridges, and since Across is unlikely to have a similar issue to multi-chain - it reduces issues for users who are trying to bridge.

Open to having liquidity on Stargate too. It’s better to have it spread across multiple bridges.

1 Like
17

[BIP-48] Kill FEI/WETH Gauge

Vote: Yes

The project is taking a turn and we shouldn’t support it anymore. It won’t benefit us in anyway

[BIP-49] ComposableStable and AaveLinearPools: permission granting

Vote: Yes

It’s needed to make it safer.

[BIP-50] Set Protocol Fee on Yield

Vote: Yes

This is needed to help bring some additional revenue to the DAO.

[BIP-51] Gauge Migration to Composable Stable Pools

Vote: Yes

Reduced risk and allows LPs slowly transition to the new pools. It’s a win-win for everyone in a fair way.

[BIP-52] Allocate BAL Liquidity to Aave

Vote: Allocate 100k BAL

Would have preferred a split of (around 75-100k on mainnet at 50k on polygon) but the options are quite limiting. Fine to support 100k on both, since its better than 50k, but not ideal.

[BIP-53] Enable crosschain Gauges via LayerZero

Vote: Yes

This heavily supports the protocol. Enabling cross chain gauges will improve Balancer and with the support from LayerZero, it should be a smooth process.

[BIP-54] Authorize Balancer Labs to initiate distributions on Optimism gauges

Vote: Yes

OP is a growing ecosystem and its good to get this started.

[BIP-55] Funding Proposal for the Balancer OpCo

Vote: Yes

Looking forward to seeing Balancer OpCo support the protocol further. They have done some great work in the past and am sure they will continue to do so.

1 Like
18

[BIP-56] Re-enable CREAM/WETH 80/20 Gauge [Ethereum]

Vote: No

Generally, I don’t think any gauges should be enabled till the framework is introduced. Specifically, this gauge is not healthy for the protocol and should not be re-introduced.

[BIP-57a] Introduce Gauge Framework v1

Vote: Yes

We need a standard to evaluate gauges.

We didn’t participate in the discussion as much since it became more argumentative, and I don’t believe the conversation was entirely helpful.

[BIP-57b] Introduce Gauge Framework v1

Vote: 2%

2% seems like the ideal start for now.

[BIP-58] Increase Snapshot Quorum

Vote: 500k

There is more governance participation with more individuals with large amounts of tokens, so it only makes sense to increase the quorum. We can expect to increase it again shortly too.

2 Likes
19

[BIP-59] Enable MAI/USDC Gauge on Ethereum

Vote: Yes

Rationale: QIDAO has done some good work. I have seen them on Polygon and Optimism and believe they are a great addition to the balancer ecosystem.

[BIP-60] Enable XSGD:USDC “FXPool” Gauge [Polygon]

Vote: Yes

Rationale: Recently found out that they are a grantee project, and they have done well to come this far. I look forward to seeing them add value to the Balancer ecosystem.

[BIP-61] Operating Procedures for DAO’s Selling Their Locked BAL Position OTC

Vote: Yes

Rationale: This makes sense to prevent taking advantage of the system.

[BIP-62] Stable v2, composableStable, Weighted v2 Permission Granting

Vote: Yes

Rationale: 6/11 out of signers isn’t always feasible so the emergency subDAO having this extra responsibility is logical.

[BIP-63] Enable IB/WETH 80/20 Gauge w/2% emissions cap [Optimism]

Vote: Yes

Rationale: A big fan of a small project going under the new 2% cap. I am looking forward to seeing how it progresses.

[BIP-64] Revised Gauge Migration to Composable Stable Pools

Vote: Yes

Rationale: It is an important step to keep balancer safe.

[BIP-65] Enable INV/DOLA 50/50 Gauge on Ethereum w/2% emissions cap

Vote: Yes

Rationale: Same as BIP-63.

[BIP-66] Migrate Lightly Used Gauges to Capped

Vote: Yes

Rationale: No major changes, and since they aren’t close to the limit it makes sense.

[BIP-67] Enable rETH/RPL Gauge [Ethereum]

Vote: Yes

Rationale: Rocket Pool is an essential player in the staking ecosystem and will continue to play a crucial part.

[BIP-68] Enable wstETH/LDO Gauge [Ethereum]

Vote: Yes

Rationale: Lido is an essential player in the staking ecosystem and will continue to play a crucial part.

3 Likes
20

[BIP-69] Whitelist Beethoven X Gnosis Safe for Balancer’s VotingEscrow

Vote: Yes

Rationale: Beets have been great so far as a FF. This is a good commitment and great to see them getting involved in governance.

[BIP-70] Authorize the Batch Relayer v4

Vote: Yes

Rationale: Necessary infra update.

3 Likes