Recap of the Previous Two Weeks
ARB Received Last Disbursement: Week 0: 100,000
ARB Utilized as Incentives in the Last Two Weeks: 50,000
Contracts incentivized over the last 2 weeks:
| Pool Symbol | Gauge Address |
|---|---|
| ETHx/wstETH | 0x8f57378CaD866a46eA702B7ACAEBF21dd93B4804 |
| rsETH/wETH | 0x59907f88C360D576Aa38dba84F26578367F96b6C |
| cbETH/rETH/wstETH | 0x5a0e92a55800BB5bFd5ec6C7340BfdE7f0947c3E |
| ECLP-weETH-wstETH | 0xdB66fFFf713B1FA758E348e69E2f2e24595111cF |
| ECLP-AUSDC-AUSDT | 0x2b52a321Fc2ab77e9fC8488D792BB3CaEA966c0b |
| rETH/wETH BPT | 0x8ba2D53F34159C5C5e7add60B56C7dE3BBc1DA68 |
| sFRAX/4POOL | 0x050fBe33699E56B577c3D6f090eCE9870A0966bd |
| ezETH/wstETH | 0x7C4A6B0c16cA99e65822Cc531403cE2f8A20A912 |
| ankrETH/wstETH-BPT | 0xfC745035F31BCbaEb2D1a89aA9171495c671F6cE |
| wstETH/sfrxETH | 0x06eaf7bAabEac962301eE21296e711B3052F2c0d |
| ECLP-WOETH-WETH | 0x40e86216712cB9871B9C698EA3AFB22f88c00E6e |
| wstETH-WETH | 0x260cbb867359a1084eC97de4157d06ca74e89415 |
| ECLP-wstETH-WETH | 0x96d7C70c80518Ee189CB6ba672FbD22E4fDD9c19 |
| instETH/wstETH | 0xb072496eEf1F88a2Bd1BA93F880c7ed685264EB1 |
| inETH/wstETH | 0x2dEafe52b0bCb9801d3aaDc0D75c7879cB2E5825 |
Contract address label Form completed for all addresses: Yes
ARB left over: 550,000 for total grant
Plan for leftover ARB: As the leftover ARB is claimed we will be streaming the ARB on our liquidity pool gauges in order to incentivize strong LST/LRT and yield bearing stable coin liquidity on Arbitrum.
Summary of incentives: Balancer’s ARB incentives plan is based upon the direction of BAL to the gauges we already have on Arbitrum, which is then amplifying the most profitable pools for LPs in terms of yield and fees accrued. The core pool mechanisms of Balancer and the STIP Addendum boost settings will foster a healthy and sustainable way for the most beneficial asset classes for Arbitrum to flourish on Balancer. This will emphasize capital efficiency of ARB incentives for both the Arbitrum ecosystem and Balancer DAO. See full details on the incentives structure in our Addendum post.
Additional Info / Disclosures to Multisig: Balancer DAO is using the same 3/5 KYC Multisig as utilized in the original STIP program.
STATS 6/17/24 - 7/1/24
Average daily TVL: $67,782,051
Average daily transactions: 2,046
Average daily volumes: $9,040,314
Number of unique user addresses: 14,508
Transaction fees: $5,484
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: [Insert all contract addresses]
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 is leaning into the LRT/LST narrative as well as emphasizing the power of Gyroscope E-CLPs which are a unique AMM pool design only Balancer offers, perfect for correlated liquidity without requiring traditional CL range management. Several new pools which have arrived on Balancer excited about the tech and STIP are multiple GHO pools, new to Arbitrum, as well as LSTs such as woETH, and osETH. Along with many other usual suspects like Kelp DAO, Etherfi, Renzo, and many more. As far as yield bearing stable coin liquidity several narratives will come to fruition over the next several weeks but for the time being the most exciting are the sFRAX pool, and Gyroscopes rehype pools which give users the ability to earn yield of Aave while facilitating trades.
Summary of changes to the original plan: The primary change to the incentives plan is the boost mechanism which we are providing to the most promising pools, as described above. This comes from Balancer’s experience regarding yield bearing narratives and being able to hone in on what pool’s will benefit our LPs and there Arbitrum ecosystem participants the most. Things such as routing optimizations, native yield, and lighting a fire under the BAL, AURA, and ARB flywheel to keep onboaridng new liquidity into the ecosystem.