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 | 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
ARB left over: 150,000 for total grant, 100,000 being distributed this epoch
Plan for leftover ARB: The rest of the ARB will be allocated through our liquidity pool gauges to encourage strong liquidity for LST/LRT and yield-bearing stablecoins on Arbitrum. From the DAO’s standpoint, yield-bearing assets are crucial for sustaining long-term TVL for both Balancer and Arbitrum. Liquidity providers benefit greatly from the various ways capital efficiency is encompassed by Balancers various unique pooling solutions.
Summary of incentives: Balancer’s ARB incentive strategy focuses on directing BAL to existing gauges on Arbitrum, thereby boosting the highest-yielding pools for liquidity providers in terms of returns and fees. By leveraging Balancer’s core pool mechanisms and the STIP Addendum boost settings, this approach aims to create a thriving and sustainable environment for the most beneficial asset classes on Arbitrum within Balancer. The goal is to optimize the capital efficiency of ARB incentives for both the Arbitrum ecosystem and the Balancer DAO. For a comprehensive overview of the incentive structure, please see our Addendum post.
The pool for gUSDC Gyro ECLP has now begun to catch on by reaching 330k TVL, with nearly 1MM between the two gUSDC pools. Noticeably as well this week the osETH/wETH and weETH/wstETH (Gyro) pools hit ATH for the month at 5.5MM and 4.7MM TVL respectibely. Also multiple Gyro ECLPs have begun 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 primary highlight of this epoch is an 11% increase in stable coin liquidity and a 8% increase in LST/LRT liquidity in USD terms. This means liquidity net migrated to yield bearing assets on Balancer while decreasing just slightly in total from the previous epoch to this epoch.
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 8/12/24 - 8/26/24
Average daily TVL: $77,009,257
Average daily transactions: 2,508
Average daily volumes: $7,020,880
Number of unique user addresses: 2,862
Transaction fees: $5,213
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 | 12930.31268 |
| 0xdB66fFFf713B1FA758E348e69E2f2e24595111cF | ECLP-weETH-wstETH | 8357.211099 |
| 0x96d7C70c80518Ee189CB6ba672FbD22E4fDD9c19 | ECLP-wstETH-WETH | 8352.946592 |
| 0x050fBe33699E56B577c3D6f090eCE9870A0966bd | sFRAX/4POOL | 8250.415254 |
| 0x5a0e92a55800BB5bFd5ec6C7340BfdE7f0947c3E | cbETH/rETH/wstETH | 6610.388977 |
| 0xdDbDca6213b4a03d8C6fC1419Ef7B0b16B61d363 | ECLP-gUSDC-AUSDC | 5052.645861 |
| 0x7C4A6B0c16cA99e65822Cc531403cE2f8A20A912 | ezETH/wstETH | 4655.726304 |
| 0x260cbb867359a1084eC97de4157d06ca74e89415 | wstETH-WETH-BPT | 4367.670832 |
| 0x8ba2D53F34159C5C5e7add60B56C7dE3BBc1DA68 | rETH/wETH BPT | 4200.111642 |
| 0xd9647eb5D6457bd7Adb39B335ab89eC3a1Ea6d09 | ECLP-GYD-AUSDT | 4184.198787 |
| 0x59907f88C360D576Aa38dba84F26578367F96b6C | rsETH/wETH | 3887.626777 |
| 0x8f57378CaD866a46eA702B7ACAEBF21dd93B4804 | ETHx/wstETH | 3052.843637 |
| 0x4b8858a8E42f406B4dC2eCB8D48B5cf0021035c8 | sUSDe/sFRAX | 2909.766272 |
| 0x40e86216712cB9871B9C698EA3AFB22f88c00E6e | ECLP-WOETH-WETH | 2885.898364 |
| 0x7a45919ca9Cf2176833492B9D049B34312AF90fa | ECLP-rETH-wstETH | 2526.324963 |
| 0x2b52a321Fc2ab77e9fC8488D792BB3CaEA966c0b | ECLP-AUSDC-AUSDT | 2526.308702 |
| 0x052597B6633814a0a6eA9020eE46E25Aa6936E49 | ECLP-GYD-AUSDC | 2526.308702 |
| 0xdEC026525FE4FEF54857bCF551aEA97aBc24A673 | ECLP-sUSDe-GYD | 2300.761686 |
| 0xB76ed1927F54C76DCdfC311f30dF2277dEAb93eF | ECLP-sFRAX-aFRAX | 2300.761686 |
| 0xfC745035F31BCbaEb2D1a89aA9171495c671F6cE | ankrETH/wstETH-BPT | 2189.436694 |
| 0x7dc6C96bf1c0ce2e5Ddad5601AFeCC0207b0870C | sFRAX/FRAX | 1894.731526 |
| 0x879049Df2744B8D8848985C82275AD4c07379905 | ECLP-wUSDM-GYD | 1443.604972 |
| 0xd9BE61a0a58A301B078033757bAC9474C276362E | ECLP-wUSDM-USDC-rh | 1308.283268 |
| 0x2dEafe52b0bCb9801d3aaDc0D75c7879cB2E5825 | inETH/wstETH | 1285.710678 |
| 0xb072496eEf1F88a2Bd1BA93F880c7ed685264EB1 | instETH/wstETH | 0.004044083 |
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 wstETH/wETH have changed once again as a gyro pool climbed and knocked a competing gyro pool (wstETH replaced rETH) out of the top for the time being. The TVL of the top 5 pools increased from 20.4MM to 21.8MM.
The yield bearing stablecoin narrative has continued to prove true on Balancer throughout every epoch of this STIP cycle. 9.7MM USD in TVL was an ATH which has been topped this round with 10.8MM. 3 of the top 5 are still Gyro ECLPs, 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 has been bumped out by gUSDC/USDC, ECLP aUSDC/aUSDT, sFRAX/4POOL, ECLP GYD/aUSDC, ECLP GHO/aUSDC
Summary of changes to the original plan: The primary update to our incentives plan is the addition of a boost mechanism, which we are applying to the most promising pools as detailed above. This adjustment leverages Balancer’s expertise in yield-bearing strategies, enabling us to concentrate on the pools that will provide the greatest benefit to our liquidity providers and participants in the Arbitrum ecosystem. Key factors such as routing optimizations, native yield, and energizing the BAL, AURA, and ARB flywheel are crucial for consistently attracting new liquidity into the ecosystem.