WNCG/WETH 80/20 Gauge

Summary:

Proposal to add a gauge for the WNCG/WETH Pool on Ethereum mainnet.

References/Useful links:

Link to:
• Website: https://nine-chronicles.com/
• Github Page: Planetarium · GitHub
• Discord: Planetarium
• Twitter: https://twitter.com/NineChronicles

Protocol Description:

Nine Chronicles is a fully decentralized free-to-play RPG, based on Scandinavian mythology, and the first title to be developed with Libplanet (GitHub - planetarium/libplanet: Distributed ledger core in C#/.NET for decentralized online games). Nine Chronicles runs on a P2P network of players without requiring any central server to host. The entire game, from crafting an item to complex battles, takes place fully on-chain.

The first alpha test of Nine Chronicles started in 2019 Q2, and the mainnet was launched in 2020 Q4. Currently Nine Chronicles community is comprised of players from more than 100 countries. As Nine Chronicles is fully open source, there are a number of modded game clients developed by community members.

Nine Chronicles Gold (NCG) is the in-game currency on its own blockchain network and it can be bridged to Ethereum mainnet. WNCG is the wrapped version of NCG. Nine Chronicles players can acquire NCG in various way including getting in the high ranks in Arena, selling an item, and running a node. Here is the 2022 roadmap of Nine Chronicles and WNCG price history can be viewed on Coingecko.

Motivation:

Balancer’s weighted pool would help attract more liquidity with less impermanent loss comparing to 50/50 pool. Furthermore, adding the veBAL gauge will give bigger incentives to Nine Chronicles community members to deposit their tokens into Balancer pool, and will give deeper liquidity that would attract more users to trade on Balancer.

Specifications:

  1. Governance: The game protocol and Ethereum bridge is currently managed by multisig. The codes are fully open-source (Nine Chronicles, NineChronicles.EthBridge) and the operations are fully shared and discussed in Discord.

  2. Oracles: As the game and bridge are not using external information, the systems don’t rely on oracles.

  3. Audits: Here are the security audit reports by Theori (won DEFCON CTF 5 times) and Certik for the Ethereum bridge.

  4. Centralization vectors: Governance systems are yet to be fully decentralized and treasury functions are managed by multisig. The bridge is operated by using own Ethereum node adding to Infura.

  5. Market History: As there is no DeFi protocol using WNCG, relevant events such as smart contract attacks or liquidations haven’t happened. There has been the Sushiswap pool for WNCG/ETH since MISO IDO in August 2021.

Pool: WeightedPool | Address 0xe8cc7e765647625b95f59c15848379d10b9ab4af | Etherscan
Gauge: Vyper_contract | Address 0x86ec8bd97622dc80b4a7346bc853760d99d14c7f | Etherscan

2 Likes

One question I have here is if we add this gauge, who will vote for it? Are you planning a bribing campaign or is there some entity with locked veBAL who plans to support this?

Adding a gauge without any prospect for that gauge to receive votes is not too worthwhile in my mind.

1 Like

Thank you for the good question!

As discussed with Andrea in early April on Discord, the team will vote to the pool with acquired veBAL.

Furthermore, a staking system similar to mStable’s is being prepared. Incentives currently on Sushiswap will be used to incentivize the pool too.

1 Like

Excellent, appreciate the response. We can likely move this along to snapshot tomorrow assuming no other concerns are raised.

1 Like

https://snapshot.org/#/balancer.eth/proposal/0x4860ffa14a121a82ee0fa52c06c66a582509ea8c2079a1d947ea13d4341c60e4