Balancer

PR with Payload

https://github.com/BalancerMaxis/multisig-ops/pull/491

Summary:

This proposal is to add a veBAL gauge for the new STAR/USDC.e Stable Pool on Arbitrum.

References/Useful links:

Link to: • Website: https://www.preon.finance/ • Documentation: https://docs.preon.finance/introduction/overview • Github Page: https://github.com/PreonMoney/
• Communities https://linktr.ee/preon

Protocol Description:

Preon Finance is a CDP protocol built on Arbitrum that offers 0% interest borrowing on yield bearing assets. Preon’s core product is STAR, an overcollateralized USD stablecoin.

Motivation:

This proposal aims to add a veBAL gauge for STAR/USDC.e 50/50 Composable Stable Pool. Platform incentives would help deepen STAR liquidity as we seek to diversify liquidity positions. We aim to incentivize pools, especially our veBAL gauge in coordination with Hidden Hand & Aura to facilitate incentivization and drive the Balancer bribe market forward

Specifications:

1. Governance: Currently the governance is held by a multisig. Holders can be found here: https://docs.preon.finance/information/multisig

2. Oracles: The protocol relies on Chainlink.

3. Audits: https://docs.preon.finance/information/security

4. Centralization vectors: No single person has admin controls over the protocol. The treasury and some parts of the protocol are secured by an 4/8 multisig of public members.

5. Market History: $STAR is a new stablecoin. Been trending around $1.00 since inception.

6. Value: This is one of the few STAR pools deployed on Arbitrum resulting in high TVL on Balancer. We expect it to generate a significant amount of volume which will be beneficial for all LPs and users of Preon and the Balancer Ecosystem.

Link to the pool: https://app.balancer.fi/#/arbitrum/pool/0xead7e0163e3b33bf0065c9325fc8fb9b18cc82130000000000000000000004a9 Link to gauge 10% cap: 0x329cAebB9be5144C5727347F64F8B3a3B109ec57

Specifcations:

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): 0x329cAebB9be5144C5727347F64F8B3a3B109ec57 gaugeType(string): Arbitrum