[BIP-410] Enable KNC/WETH/USDC Gauge 10% [Ethereum]
PR with Payload
https://github.com/BalancerMaxis/multisig-ops/pull/483
Summary:
The goal of this proposal is to enable the gauge for then evenly split weighted pool containing KNC, WETH, and USDC on Ethereum mainnet. The gauge has a 10% weight cap for initial purpose. This pool will likely generate healthy fees for the DAO and due to KNC being a unique token with decent market cap, will be a good candidate for the fee discounts related to non-toxic flow on cowswap and 1inch.
References/Useful links:
Link to: • Website • Documentation • Github Page • Communities
Protocol Description:
KNC holders stake and vote to receive trading fees from protocols in the network. As more trades are executed and new protocols added, more rewards are generated. KNC is dynamic and can be upgraded, minted, or burned by KyberDAO to support their ecosystem as governance sees fit.
Motivation:
In order to gain traction with KNC the pool will get rewards and increase in TVL, making the depth attractive for swaps to be routed to.
Specifications:
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Governance: KyberDAO is a community platform that empowers KNC (Kyber Network Crystal) token holders to participate in the governance of Kyber Network and the KyberSwap trading platform. KNC holders can stake their tokens to vote on important proposals. In return, they receive rewards in KNC from part of the trading fees collected through KyberSwap trading activities. Voting is done in a fully open and transparent manner. Read more here.
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Oracles: N/A
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Audits: Audits can be seen here.
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Centralization vectors: N/A
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Market History: See coingecko history.
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Value: This pool will be the hub for KNC on Balancer, however this is not requested for by their team or community directly.
Pool: 0x6f0ed6f346007563d3266de350d174a831bde0ca Gauge: 0x02ea1C2702eCD478082D4b3AE902B6d10d26b920
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): 0x02ea1C2702eCD478082D4b3AE902B6d10d26b920
gaugeType(string): Ethereum
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0x25B7...057Fa6 | 86,396 | 100% for Yes, let's do it |
 StableNode | 71,831 | 100% for Yes, let's do it |
 0x5e45...B73248 | 1,212 | 100% for Yes, let's do it |
 0x5C89...2919b9 | 1,025 | 100% for Yes, let's do it |
 0x14BD...4CE36a | 462 | 100% for Yes, let's do it |
VOTE POWER
Proposal Status
- Thu August 31 2023, 06:00 pmVoting Period Starts
- Mon September 04 2023, 06:00 pmEnd Voting Period
Current Results
1-Yes, let's do it
3.32M
2-No, this is not the way
0.002
3-Abstain
0.002