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 | 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
ARB left over: 50,000 being distributed this epoch
Plan for leftover ARB: The remaining ARB will be distributed through our liquidity pool gauges to boost liquidity for LST/LRT and yield-bearing stablecoins on Arbitrum. From the DAO’s perspective, yield-bearing assets are essential for maintaining long-term TVL for both Balancer and Arbitrum. Liquidity providers gain significant advantages from the diverse capital efficiency offered by Balancer’s unique pooling solutions.
Summary of incentives: Balancer’s ARB incentive strategy is designed to channel BAL towards existing gauges on Arbitrum, enhancing the highest-yielding pools for liquidity providers in terms of returns and fees. By utilizing Balancer’s core pool mechanisms and the STIP Addendum boost settings, this strategy aims to foster a dynamic and sustainable environment for the most valuable asset classes on Arbitrum within Balancer. The objective is to maximize the capital efficiency of ARB incentives for both the Arbitrum ecosystem and the Balancer DAO. For a detailed overview of the incentive structure, please refer to our Addendum post.
Balancer has harbored several partner integrations which amplified the ARB flowing to our ecosystem. This includes tight ties with Aave and Gyroscope, which allowed Gyroscopes Rehype pools to harness the yield from Aave’s lending markets, including GHO, which resulted in more net ARB for Balancer LPs. Furthermore Galaxe has teamed up with Balancer to give new and recurring participants an opportunity to get to know our ecosystem and experience the tech that Balancer has to offer.
Check out the quest board here.
The pool for sUSX came in hot with 700k TVL and now reachd 1.3MM in TVL. There has been immense shake up on the yield bearing pools with two LST/LRT pools being knocked out of the top 5, replaced by an ETHx and rETH pool charging up in momentum. The sUSX and Gyro rehype pools continue to be extremely competitive options in the stablecoin markets with sFRAX and sUSDe fighting to reclaim their previously higher positions.
The primary highlight of this epoch is a large jump in average daily total fees up 51% from last epoch. Complimentary to this, there has been a 1% increase in all TVL is USD terms, and daily average volume. ETH terms of TVL has remained the same as well, while yield bearing stable coins saw a several % increase in TVL in USD terms.
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 8/26/24 - 9/9/24
Average daily TVL: $77,257,922
Average daily transactions: 868
Average daily volumes: $7,031,838
Number of unique user addresses: 2,168
Transaction fees: $7.913 / day
Link to Dashboard showing metrics: Balancer Dune Dashboard
Plan For the Next Two Weeks
Amount of ARB to be distributed: 50,000
Contracts that will be incentivized:
| Gauge Address | Pool Symbol | Distribution Amount |
|---|---|---|
| 0x06eaf7bAabEac962301eE21296e711B3052F2c0d | wstETH/sfrxETH | 16828.78381 |
| 0xdB66fFFf713B1FA758E348e69E2f2e24595111cF | ECLP-weETH-wstETH | 8981.130502 |
| 0x050fBe33699E56B577c3D6f090eCE9870A0966bd | sFRAX/4POOL | 8926.441485 |
| 0x96d7C70c80518Ee189CB6ba672FbD22E4fDD9c19 | ECLP-wstETH-WETH | 8616.91308 |
| 0xd9647eb5D6457bd7Adb39B335ab89eC3a1Ea6d09 | ECLP-GYD-AUSDT | 5316.57885 |
| 0x052597B6633814a0a6eA9020eE46E25Aa6936E49 | ECLP-GYD-AUSDC | 5316.57885 |
| 0x8ba2D53F34159C5C5e7add60B56C7dE3BBc1DA68 | rETH/wETH BPT | 4793.198957 |
| 0x7C4A6B0c16cA99e65822Cc531403cE2f8A20A912 | ezETH/wstETH | 4611.731404 |
| 0x260cbb867359a1084eC97de4157d06ca74e89415 | wstETH-WETH-BPT | 4466.772479 |
| 0x2ffa44fDd19B8d3d2b03842E34F1b4c7E9217591 | ECLP-GHO-GYD-rh | 4410.052617 |
| 0x5a0e92a55800BB5bFd5ec6C7340BfdE7f0947c3E | cbETH/rETH/wstETH | 4381.906654 |
| 0x8f57378CaD866a46eA702B7ACAEBF21dd93B4804 | ETHx/wstETH | 4126.35998 |
| 0x59907f88C360D576Aa38dba84F26578367F96b6C | rsETH/wETH | 3481.554089 |
| 0x4b8858a8E42f406B4dC2eCB8D48B5cf0021035c8 | sUSDe/sFRAX | 2945.619866 |
| 0xB76ed1927F54C76DCdfC311f30dF2277dEAb93eF | ECLP-sFRAX-aFRAX | 2677.836241 |
| 0x2b52a321Fc2ab77e9fC8488D792BB3CaEA966c0b | ECLP-AUSDC-AUSDT | 2265.003154 |
| 0xfC745035F31BCbaEb2D1a89aA9171495c671F6cE | ankrETH/wstETH-BPT | 1969.859731 |
| 0x2dEafe52b0bCb9801d3aaDc0D75c7879cB2E5825 | inETH/wstETH | 1673.647651 |
| 0x7dc6C96bf1c0ce2e5Ddad5601AFeCC0207b0870C | sFRAX/FRAX | 1249.656913 |
| 0x7a45919ca9Cf2176833492B9D049B34312AF90fa | ECLP-rETH-wstETH | 1205.026309 |
| 0xdEC026525FE4FEF54857bCF551aEA97aBc24A673 | ECLP-sUSDe-GYD | 892.6120805 |
| 0x879049Df2744B8D8848985C82275AD4c07379905 | ECLP-wUSDM-GYD | 847.9814765 |
| 0x40e86216712cB9871B9C698EA3AFB22f88c00E6e | ECLP-WOETH-WETH | 14.73815099 |
| 0xcfab2efeF3aFfdd158568DC896115Eac26B3C498 | ECLP-GHO-USDe-rh | 0.01233377611 |
| 0xb072496eEf1F88a2Bd1BA93F880c7ed685264EB1 | instETH/wstETH | 0.003333992221 |
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 remains home to yield bearing tokens making LSTs, LRTs, and stablecoins our core focus. 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. While TVL on LST/LRT pools in USD terms is down to roughly 36MM from last epoch, the ETH value remains relatively flat at 15.5K ETH, meaning the liquidity is sticking to Balancer regardless of harsher market conditions. The top 5 pools have changed this epoch , after the long standing osETH and wstETH/wETH pools have been dethroned. Still going strong are the wstETH/sfrxETH, ECLP weETH/wstETH, and ECLP wstETH/wETH pools; and new to the top 5 are the returning rETH/wETH and ETHx/wstETH pools! 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 changed from 21.8MM to 17.3MM, with an increase in ETH terms form 7,146 to 7,851 ETH.
The yield bearing stablecoin narrative has continued to prove true on Balancer throughout every epoch of this STIP cycle. 10.8MM USD in TVL, the previous ATH has been beaten once again as new pools have come to the forefront with 11MM. 3 of the top 5 are still Gyro ECLPs, An exciting new addition of sUSX has shaken up the top 5. sUSDe/sFRAX has been bumped out by, USDC/sUSX which has come in hot jumping up to 1.34M TVL, ECLP aUSDC/aUSDT, sFRAX/4POOL, ECLP GYD/aUSDC, ECLP GHO/aUSDC
Summary of changes to the original plan: The main update to our incentives plan is the introduction of a boost mechanism, applied to the most promising pools as outlined above. This enhancement utilizes Balancer’s expertise in yield-bearing strategies, allowing us to focus on pools that offer the greatest benefits to our liquidity providers and participants in the Arbitrum ecosystem. Critical elements like routing optimizations, native yield, and energizing the BAL, AURA, and ARB flywheel are essential for continually attracting new liquidity to the ecosystem.