ARB Received Last Disbursement: 50,000 + 50,000
ARB Utilized as Incentives in the Last Two Weeks: 100,000
Contracts incentivized over the last 2 weeks:
| Gauge Address | Pool Symbol | Distribution Amount |
|---|---|---|
| 0x06eaf7bAabEac962301eE21296e711B3052F2c0d | wstETH/sfrxETH | 17135.65667 |
| 0x96d7C70c80518Ee189CB6ba672FbD22E4fDD9c19 | ECLP-wstETH-WETH | 12006.61658 |
| 0x4b8858a8E42f406B4dC2eCB8D48B5cf0021035c8 | sUSDe/sFRAX | 9573.682755 |
| 0x8ba2D53F34159C5C5e7add60B56C7dE3BBc1DA68 | rETH/wETH BPT | 7048.65797 |
| 0xdB66fFFf713B1FA758E348e69E2f2e24595111cF | ECLP-weETH-wstETH | 6906.71876 |
| 0x050fBe33699E56B577c3D6f090eCE9870A0966bd | sFRAX/4POOL | 5895.617743 |
| 0x260cbb867359a1084eC97de4157d06ca74e89415 | wstETH-WETH-BPT | 5253.57004 |
| 0x7C4A6B0c16cA99e65822Cc531403cE2f8A20A912 | ezETH/wstETH | 5240.380572 |
| 0x59907f88C360D576Aa38dba84F26578367F96b6C | rsETH/wETH | 5129.833078 |
| 0x5a0e92a55800BB5bFd5ec6C7340BfdE7f0947c3E | cbETH/rETH/wstETH | 4701.193657 |
| 0x0CE9489bBD4bfA0Da7b5bb06E4dFa7a5947F76e8 | gUSDC/USDC | 3875.922342 |
| 0xfC745035F31BCbaEb2D1a89aA9171495c671F6cE | ankrETH/wstETH-BPT | 3229.282801 |
| 0x2b52a321Fc2ab77e9fC8488D792BB3CaEA966c0b | ECLP-AUSDC-AUSDT | 3161.936647 |
| 0x40e86216712cB9871B9C698EA3AFB22f88c00E6e | ECLP-WOETH-WETH | 3147.365511 |
| 0x7dc6C96bf1c0ce2e5Ddad5601AFeCC0207b0870C | sFRAX/FRAX | 2797.658232 |
| 0x052597B6633814a0a6eA9020eE46E25Aa6936E49 | ECLP-GYD-AUSDC | 2447.950953 |
| 0xd9647eb5D6457bd7Adb39B335ab89eC3a1Ea6d09 | ECLP-GYD-AUSDT | 2447.950953 |
| 0x879049Df2744B8D8848985C82275AD4c07379905 | ECLP-wUSDM-GYD | 0.004737794534 |
| SUMS and Averages | 100000 |
Contract address label Form completed for all addresses: Yes
ARB left over: 250,000 for total grant, 100,000 being distributed this epoch
Plan for leftover ARB: The remaining ARB will continue to be distributed through our liquidity pool gauges to incentivize robust LST/LRT and yield-bearing stablecoin liquidity on Arbitrum. From our DAO’s perspective, yield-bearing assets are essential for maintaining long-term TVL for both Balancer and Arbitrum.
Summary of incentives: Balancer’s ARB incentive strategy prioritizes allocating BAL to existing gauges on Arbitrum, thereby enhancing the highest-yielding pools for LPs in terms of returns and fee generation. Balancer’s core pool mechanisms, combined with the STIP Addendum boost settings, will foster a robust and sustainable environment for the most advantageous asset classes on Arbitrum to flourish on Balancer. This strategy is designed to maximize the capital efficiency of ARB incentives for both the Arbitrum ecosystem and Balancer DAO. For a detailed overview of the incentive structure, please refer to our Addendum post.
The pool for gUSDC from Gains Network here is strong at 500k TVL, but is working to migrate towards a Gyro ECLP for increased capital efficiency this coming week. Noticeably as well this week the sfrxETH/wstETH pool hit an ATH at 4.3MM TVL and multiple Gyro ECLPs are coming on line per BIP-675 in the next weeks encompassing Aave stable coin yields, wUSDM from Mountain protocol, sFRAX, sUSDE from Ethena, aGHO, and an LRT rETH/wstETH pool.
The highlights of our stats below include 28.8% increase in average daily volume, and 25.5% increase in fees. TVL, transactions, and unique addresses have decreased for this epoch, however the volume and fees are beneficial to both the ecosystem and liquidity providers.
The full distribution with quantities can be seen in this transaction and will be repeated in one week to have the same ratio of rewards distributed for a full two week epoch. See csv with calculated amounts for reference.
Additional Info / Disclosures to Multisig: Balancer DAO is using the same 3/5 KYC Multisig as utilized in the original STIP program.
STATS 7/29/24 - 8/12/24
Average daily TVL: $79,041,155
Average daily transactions: 695
Average daily volumes: $13,832,779
Number of unique user addresses: 3,160
Transaction fees: $7,479
Link to Dashboard showing metrics: Balancer Dune Dashboard
Plan For the Next Two Weeks
Amount of ARB to be distributed: 100,000
Contracts that will be incentivized:
| Gauge Address | Pool Symbol | Distribution Amount |
|---|---|---|
| 0x06eaf7bAabEac962301eE21296e711B3052F2c0d | wstETH/sfrxETH | 13253.0736 |
| 0xdB66fFFf713B1FA758E348e69E2f2e24595111cF | ECLP-weETH-wstETH | 11571.8304 |
| 0x96d7C70c80518Ee189CB6ba672FbD22E4fDD9c19 | ECLP-wstETH-WETH | 7730.959598 |
| 0x050fBe33699E56B577c3D6f090eCE9870A0966bd | sFRAX/4POOL | 7167.565538 |
| 0x5a0e92a55800BB5bFd5ec6C7340BfdE7f0947c3E | cbETH/rETH/wstETH | 6324.852692 |
| 0x260cbb867359a1084eC97de4157d06ca74e89415 | wstETH-WETH-BPT | 6292.46365 |
| 0x4b8858a8E42f406B4dC2eCB8D48B5cf0021035c8 | sUSDe/sFRAX | 6153.624459 |
| 0x59907f88C360D576Aa38dba84F26578367F96b6C | rsETH/wETH | 5396.842154 |
| 0x8ba2D53F34159C5C5e7add60B56C7dE3BBc1DA68 | rETH/wETH BPT | 4996.276352 |
| 0x7C4A6B0c16cA99e65822Cc531403cE2f8A20A912 | ezETH/wstETH | 4747.32769 |
| 0x0CE9489bBD4bfA0Da7b5bb06E4dFa7a5947F76e8 | gUSDC/USDC | 4058.753789 |
| 0x8f57378CaD866a46eA702B7ACAEBF21dd93B4804 | ETHx/wstETH | 3598.153903 |
| 0x2b52a321Fc2ab77e9fC8488D792BB3CaEA966c0b | ECLP-AUSDC-AUSDT | 3325.851429 |
| 0xd9647eb5D6457bd7Adb39B335ab89eC3a1Ea6d09 | ECLP-GYD-AUSDT | 3285.657829 |
| 0x052597B6633814a0a6eA9020eE46E25Aa6936E49 | ECLP-GYD-AUSDC | 2802.472854 |
| 0x40e86216712cB9871B9C698EA3AFB22f88c00E6e | ECLP-WOETH-WETH | 2761.056999 |
| 0xfC745035F31BCbaEb2D1a89aA9171495c671F6cE | ankrETH/wstETH-BPT | 2667.753417 |
| 0x7dc6C96bf1c0ce2e5Ddad5601AFeCC0207b0870C | sFRAX/FRAX | 2264.066739 |
| 0x879049Df2744B8D8848985C82275AD4c07379905 | ECLP-wUSDM-GYD | 1601.41691 |
Contract address label Form completed for all addresses: Yes
Mechanism for distribution incentives: Balancer DAO will distribute rewards based upon the following boost factors combined with the proportion of BAL incentives streamed per pool on Arbitrum. The dynamic boost formula will be returned to the one originally proposed in STIP: max(3, Protocol Fees Earned /USD value of BAL emitted + 1) .
Our system is slightly adjusted from the original system developed for STIP . The dynamics and parameters of the original STIP are described here .
Summary of incentives plan: Balancer continues to double on fostering the best place to earn yield on LSTs, LRTs, and stablecoins. These tokens are the most important in our incentives plan and we can see the progressive increase in our protocol’s TVL in both classes via our dune dashboard. Below we can see TVL creeping just over 46.7MM, over a 4MM increase this epoch in LRT pools on Arbitrum. The top 5 pools osETH, wstETH/sfrxETH, wstETH/wETH, ECLP weETH/wstETH, and ECLP rETH/wETH have changed once again as a stable pool climbed and knocked a gyro ECLP out of the top for the time being. The TVL of the top 5 pools decreased from 29MM to 20.4MM. This is actually great news because as a metric to spread TVL out across the competing LRT pools on Arbitrum which are at a total TVL of 38.5M.
The course of the last two epochs showed a jump from just over 5MM in yield bearing stablecoin TVL to 9.7M last epoch. 3 of the top 5 are Gyro ECLPs, and the 9.7M from last round holds strong at the same value. While this list of pools remians unchanged there will be fierce competition throughout this epoch as Gyro and stablecoin liquidity across the ecosystem catches on to Balancer being the best place to host their liquidity. sUSDe/sFRAX, ECLP aUSDC/aUSDT, sFRAX/4POOL, ECLP GYD/aUSDC, ECLP GHO/aUSDC
Summary of changes to the original plan: The main adjustment to the incentives plan is the introduction of the boost mechanism, which we are applying to the most promising pools as outlined above. This change is informed by Balancer’s experience with yield-bearing strategies, allowing us to focus on the pools that will most benefit our LPs and participants in the Arbitrum ecosystem. Factors like routing optimizations, native yield, and fueling the BAL, AURA, and ARB flywheel are key to continually attracting new liquidity into the ecosystem.