Balancer

PR with Payloads

Summary: This proposal enables the following gauges on Gnosis:

wstETH/WETH (uncapped) pool, child gague, gauge EURe/agEUR (uncapped) pool, child gague, gauge COW/GNO (2% cap) pool, child gague, gauge

References/Useful links:

Gnosis: • Website • Documentation

CowSwap: • Website • Documentation • Github Page

Monerium: • Website • Documentation • Github Page

Angle: • Website • Documentation • Github Page

Protocol Description:

GNO: the token of GnosisDAO, which operates Gnosis Chain.

COW: the token of CowSwap the Coincidence-Of-Wants DEX.

EURe: EUR stablecoin by Monerium, regulated in the European Union.

agEUR: CDP EUR by Angle Protocol.

wxDAI: when bridging DAI to Gnosis Chain, xDAI is minted on the Gnosis Chain. Given that xDAI is the native token of GC, it needs to be wrapped to become ERC20 compatible - just as with ETH on mainnet.

Motivation:

The reason behind incentivizing these pools is to enhance liquidity, promote user adoption, and ensure efficient trading for the corresponding assets. Providing incentives can attract more participants, reduce slippage, and improve trade execution. Additionally, this could foster further integration and synergies between Gnosis, Balancer, CowSwap, Monerium, and Angle protocol.

This strategy follows GnosisDAOs goal to boost the DeFi ecosystem on the Gnosis Chain by creating a set of base pools with gauges similar to what other chains have previously done. Balancer is already positioned at the core of the Gnosis DeFi ecosystem with over $14M of TVL, we expect this TVL to increase significantly over the next months partially also due to these proposed gauges.

Specifications:

1. Governance: Find more information about GnosisDAO governance here, Cow governance here, Angle governance here, MakerDAO governance here. USDC, USDT and EURe are centralized and don’t have governance.
2. Oracles: the EURe/bb-ag-USD and wstETH/WETH each use a Chainlink oracle as rate provider.
3. Audits: N.A.
4. Centralization vectors: There are centralization risks with USDC, DAI, and EURe though the market has clearly accepted those as minor for now.
5. Market History: wstETH/WETH (uncapped) pool, child gague, gauge EURe/agEUR (uncapped) pool, child gague, gauge COW/GNO (2% cap) pool, child gague, gauge

agEUR saw a depeg due to the Euler exploit but has since recovered peg and adjusted its protocol to reduce risk exposure.

Specification:

The Balancer Maxi LM Multisig eth:0xc38c5f97B34E175FFd35407fc91a937300E33860 will interact with the GaugeAdderv4 at 0x5DbAd78818D4c8958EfF2d5b95b28385A22113Cd and call the addGauge function with the following arguments:

wstETH/WETH (uncapped): gauge(address): 0xf8C85bd74FeE26831336B51A90587145391a27Ba which corresponds to the uncapped gauge for this pool gaugeType(string): Gnosis

EURe/agEUR (uncapped): gauge(address): 0x7F75ecd3cFd8cE8bf45f9639A226121ca8bBe4ff which corresponds to the uncapped gauge for this pool gaugeType(string): Gnosis

COW/GNO (2% cap): gauge(address): 0xc61e7E858b5a60122607f5C7DF223a53b01a1389 which corresponds to the uncapped gauge for this pool gaugeType(string): Gnosis