Balancer

PR with Payload

https://github.com/BalancerMaxis/multisig-ops/pull/665

Summary:

We request adding FRAX/sfrxETH 50/50 weighted pool on optimism to BAL gauge

References/Useful links:

Link to • Website • Documentation • Github Page

Protocol Description:

Frax is a stable coin issued by Frax and sfrxETH is a Frax’s staked wrapped ETH token

Motivation:

As a joint effort with FRAX and Beethoven X, we aim to increase liquidity of FRAX, sFRAX, frxETH, sfrxETH, to make Balancer a liquidity hub for frax assets on optimism. The BAL gauge will facilitate the process.

Specifications:

1. Governance: FRAX governance process can be seen here and their snapshot here.
2. Oracles: Rate provider contract for sfrxETH, the pool does not rely on additional oracles.
3. Audits: See here
4. Centralization vectors: see here.
5. Market History: See FRAX and sfrxETH
6. Value: Balancer will earn the protocol fee on interest bearing sfrxETH in the pool and so will LPs. The BIP-19 flywheel will incentivize TVL to grow here with trading volume and our staked ethereum pillars will continue to have Balancer as their ideal liquidity destination.

Link to pool: https://op.beets.fi/pool/0x478980c67d53cd990f2b7bab311ddc9934324e7b00020000000000000000010c Link to child gauge: https://optimistic.etherscan.io/address/0x317e0451Da949Ee999aAc2d7Bc063737f5Fe84e5 Link to root gauge: https://etherscan.io/address/0x057e7b14DC461f071958e0BbF42b5597564D4e6C#code

Specification:

The Balancer Maxi LM Multisig eth:0xc38c5f97B34E175FFd35407fc91a937300E33860 will interact with the GaugeAdderv4 at 0x5DbAd78818D4c8958EfF2d5b95b28385A22113Cd and call the addGauge function with the following arguments: gauge(address):0x057e7b14DC461f071958e0BbF42b5597564D4e6C gaugeType(string): Optimism

Additionally, this pool is requesting core pool status as per BIP-457