The Balancer Report
Unveiling Ecosystem Updates, Key Metrics, Governance Proposals, and More!
Embark on a journey through the latest developments in the Balancer ecosystem as we delve into essential data such as Total Value Locked (TVL), Swap Fees, and Volume. Discover the pulse of governance with insights into proposals shaping the future. Join us as we unpack the week’s highlights and insights!
Now let’s explore the latest ecosystem news:
The Balancer STIP will be allocating 50,000 $ARB per week to liquidity pools for the upcoming 12 weeks. This initiative aims to enhance yield-bearing liquidity and is supported by EtherFi, GyroStable, and KelpDAO. Additionally, $ETH LST LPs will receive extra $ARB incentives.
Aura is excited to join the Fraxtal ecosystem following Balancer’s deployment vote and AIP-67 approval. Frax Finance continues to innovate with products like the FRAX stablecoin, RWA sFRAX, frxETH, LST sfrxETH, Fraxlend, FraxFerry, Fraxswap TWAMM, and Frax Bonds. Their latest innovation, Fraxtal, introduces modular rollups and the unique Flox mechanism, rewarding users and developers with FXTL points based on gas usage. Aura’s integration with Fraxtal marks a significant step in expanding this growing ecosystem.
In collaboration with GyroStable and LidoFinance, Ether Fi has deployed a $weETH | $wstETH E-CLP on Arbitrum. This initiative features concentrated liquidity for $ETH LP, a 1.5x Balancer $ARB boost, and grants from both Ether Fi and Gyroscope.
When CoWSwap enters the room, it commands attention with its unique CoW AMM, set to revolutionize LP profitability in DeFi. Built on Balancer and designed to boost yields on Aura, CoW AMM pools offer a novel approach to eliminate Loss Versus Rebalancing (LVR) for LPs. In traditional DEXs, arbitrage traders profit at LPs’ expense through LVR, but CoW AMM rebalances pools via solver bids, protecting LPs from LVR and MEV bots. This innovation leverages Balancer’s brand, interface, and liquidity, while CoW DAO introduces groundbreaking AMM designs, revenue splits, and token swaps to align incentives.
Thanks to GyroStable’s Elliptic Pools on Balancer, $PAR now serves as a liquidity infrastructure for EURO to EURO stablecoin swaps on Polygon PoS. This setup enables smooth transactions between $EURe, $PAR, and $EURS, enhancing liquidity and efficiency in the ecosystem. The transaction details can be viewed here.
Starting today, you can earn free rewards by trying out popular DeFi protocols like Beefy Finance, Balancer, Pendle Finance, Curve Finance, or Aave — without ever leaving the Shell super dapp! Shell users will receive 375,000 ARB over the next 12 weeks. To earn, simply deposit liquidity in one of the three weekly reward pools on the Shell app. For those who find it cumbersome to bridge liquidity off mainnet, Base, or Optimism, Shell offers a seamless one-click bridge and LP feature, ensuring the smoothest onboarding to Arbitrum’s DeFi ecosystem. Rewarded pools rotate weekly, so check back regularly to migrate your liquidity to the new highlighted pools.
Check out the $rsETH <> $wETH pool on Balancer on Arbitrum! Providing liquidity on this pool offers multiple rewards: 2x Kelp Miles, 4000 ARB weekly plus veBal emissions, and 1x EigenLayer Points. By providing liquidity, you can receive a BPT token. Stake this BPT token on Aura Finance to get a rewards boost.
As part of Arbitrum’s STIP program, 50k ARB tokens will flow into various Balancer pools weekly for 12 weeks, offering lucrative opportunities for Aura LPs. For instance, in Ether_Fi’s weETH-wstETH E-CLP pool, LPs can earn yield from ETH staking, EIGEN and EtherFi points on the weETH portion, AURA and BAL emissions from gauge votes, ARB incentives from Balancer’s ARB grant, EtherFi’s ARB grant, and GyroStable’s ARB grant, along with regular trading fees.
- Optimize Your LST Volume: New wstETH/WETH E-CLP on Arbitrum
Introducing a new wstETH/WETH E-CLP on Arbitrum designed to optimize LST volume. This pool is bootstrapped with co-incentives from Gyroscope and Balancer, starting with 5k ARB per week from Balancer, additional ARB rewards from Gyroscope, and earning Gyro SPIN.
As is always the case, HiddenHand incentives can be explored here, the current round ends on July 03, 2024. And to date it has the following details:
- Total Votes: 4,836,727
- Total Rewards: USD 60,667.51
- Emission $/10k Votes: USD 633.8297
- Incentive $/ 10k Votes: USD 125.4309
Balancer: TVL and Stats — Defilytica
Balancer’s Total TVL across all networks is sitting at $925,21m.
The Total Mainnet TVL is $709,98m with a dominance of 76,74%.
Speaking of protocol volume metrics, in this last week we were able to see a cumulative volume of $868,63m.
As for protocol fee metrics, we can verify cumulative fees of $259,64k.
As for our liquid wrappers, they are under the following parity to veBAL:
This section will list the top three expected pools to receive most of the next period’s emissions. Voting is open for four more days, and the next period is scheduled to start on Thursday at 00:00 am UTC.
- Mainnet — WETH / rETH — currently at 13.56%
- Mainnet — WETH / ezETH — currently at 6.91%.
- Base — GOLD / WETH / USDC — currently at 4.44%.
You can find an overview of the current incentives on the Balancer Mainnet below:
This week there are 13 active proposals on Snapshot including the following:
Balancer is expanding to Fraxtal as per BIP-608, with initial connections made via BIP-613. This proposal aims to establish Mainnet and Fraxtal infrastructure to facilitate the flow of BAL from root gauges to child chain gauges on Fraxtal, integrating the network fully into the ecosystem. This step will strengthen Balancer’s presence on the network, enable vote incentives on pools, and implement the core pool model.
The Balancer DAO plans to relock its 1.74 million vested AURA into vlAURA between June 27th and July 4th, 2024. By bundling this relock with additional vesting, all locks will align to unlock in 16 weeks. This action ensures the DAO can continue voting on Balancer gauges efficiently and simplifies the management of their AURA holdings. Currently, the DAO has around 255,000 AURA ready for relock, with an additional 5,000 to 10,000 AURA to be claimed later.
- [BIP-639] Enable Gauge for weETH/wstETH on Optimism
- [BIP-640] Enable USDC.e/USDT/sDAI gauge [Gnosis]
- [BIP-641] Enable wstETH/WETH E-CLP gauge [Arbitrum]
- [BIP-642] Enable GYD/aUSDC and GYD/aUSDT Rehype gauges [Arbitrum]
- [BIP-643] Enable Gauges for BAO/baoUSD-LUSD 80/20 and BAO/baoETH-ETH 80/20 w 2% cap [Ethereum]
- [BIP-644] Enable Gauge for amphrETH/rstETH/Re7LRT/steakLRT/wstETH (Ethereum)
- [BIP-645] Enable Gauge for inETH/wstETH [Arbitrum]
- BIP-646] Enable Gauge for instETH/wstETH [Arbitrum]
- [BIP-647] Supporting the DUCATA Initiative
DUCATA seeks to join the Balancer Partnership Program and requests an exception to the open-source license for its DUCA Reflexivity Protocol, which leverages Balancer’s V2 code for stability and liquidity. The partnership will showcase Balancer’s capabilities, support financial innovation, and reduce DUCATA’s development time. DUCATA proposes a licensing fee of 250K per year and commits to transitioning towards full decentralization. The DUCA Protocol uses market dynamics to maintain stability, aiming to solve the stablecoin trilemma and create Programmatic Money. The collaboration will enhance liquidity, support innovation, and promote ecosystem growth. DUCATA pledges to follow ecosystem values and DAO accountability, fostering a more innovative DeFi ecosystem.
Karpatkey proposes establishing a financial reporting system for Balancer DAO to enhance strategic decision-making and transparency. Currently, the DAO lacks a comprehensive method to visualize its financial landscape across various chains. The proposed system will integrate GAAP standards, categorize transactions, and provide detailed financial insights including balance statements, fund flow analysis, and expense breakdowns. It aims to support tax compliance and operational efficiency. Karpatkey requests a one-time grant of USD 20,000 in BAL for system development and proposes quarterly maintenance fees of USD 6,000 in BAL. The system will evolve based on community feedback and be accessible via an interactive website.
This week Dubstard shares another set of security tips that will help you stay safe:
- Do not open any links sent to you in DMs from any one pretending to be a “mod”, “admin” “staff member” and etc.
- Do not message anybody offering help if you DMs them first, those are scammers.
- Remember, Balancer operates primarily under the following domain: https://balancer.fi/
- Never share private keys, seed phases with anyone.
- Remember, there is NO AIRDROP!
- There is no such thing as “Node RPC fix”, “Encrypt Wallet”, “Node Sync”, “Wallet Synchronization”, “Rectification”, “Remediation”, “Fee Reduction”, “NFT sync”, “Synchronize wallet” and so on. All those are fake sites and imaginary “tech” sounding reasons to bait users to visit the bogus sites.
- Avoid using your main wallet for participating in airdrops, especially if they are promising very high awards. Do not sign BPT (Balancer Pool Token) approvals willy-nilly. Sign only if you know what you are doing. Do not sign approval, transfer and permit transactions willy-nilly. Always double check everything.
Balancer has a flourishing ecosystem. You’re welcome to contribute to it whether you’re a dev, a community person, or a graphic designer! We strive toward onboarding every new member in a smooth and personalized way.
Join the Ballers and start your Balancer journey now: http://discord.balancer.fi/
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This article is for informational and educational purposes only. It should not be construed as investment or trading advice or a solicitation or recommendation to buy, sell, or hold any digital assets. Transactions on the blockchain are speculative. Carefully consider and accept all risks before taking action.
