Balancer

Summary:

This pool uses the metastable pool factory and contains Lido’s liquid staking derivative of ethereum, wstETH. The reason for this pool deployment is to replace the composable stable pool implementation of this pairing with a pool which Balancer can continue to collect the fees on properly. Due to the activation of recovery mode, the current pool is being streamed BAL incentives without the DAO being properly compensated for the fees the pool generates. This proposal will effectively activate this new pool’s gauge and kill the current pool’s gauge to foster migration of liquidity to the preferred pool.

References/Useful links:

(wstETH) Link to: • Website • Documentation • Github Page • Communities

Protocol Description:

wstETH is Lido’s wrapped staking derivative as featured in many other Balancer pools. WETH is wrapped ETH.

Motivation:

Described in the summary, the protocol can collect fees on the metastable pool and not the composable stable pool. Moving the incentives will motivate the liquidity providers to migrate their liquidity to the better pool option for Balancer.

Specifications:

1. Governance: wstETH.
2. Oracles: See each rate provider contract linked here wstETH ,
3. Audits: See wstETH.
4. Centralization vectors: For Lido and wstETH please read here .
5. Market History: See wstETH
6. Value: Balancer will earn the protocol fee on all assets 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: 0x36bf227d6BaC96e2aB1EbB5492ECec69C691943f Link to gauge: 0x519cCe718FCD11AC09194CFf4517F12D263BE067

Killing current gauge

Pool address: 0xFB5e6d0c1DfeD2BA000fBC040Ab8DF3615AC329c Gauge address: 0x6f825C8bbf67eBb6bc35cf2071daCD2864C3258E

If approved, the DAO Multisig 0x10A19e7eE7d7F8a52822f6817de8ea18204F2e4f will interact with the AuthorizerAdaptor at 0x8F42aDBbA1B16EaAE3BB5754915E0D06059aDd75 and call performAction using 0xab8f0945 for the data(bytes) the target target(address) set to the gauge address 0x6f825C8bbf67eBb6bc35cf2071daCD2864C3258E.