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:
Balancer Co-Founder Fernando Martinelli shared his vision for Balancer’s future, highlighting key features of the upcoming Balancer v3. The update will focus on fungible, stablecoin, and long-tail token liquidity, yield-bearing options, hooks, LVR mitigation, and enhancing developer experience. Balancer v3 aims to simplify development, optimize liquidity management, and collaborate with projects like CowSwap to minimize MEV. Expected to launch in Q4 2024, v3 will be open-source under GPL 3.0 to encourage global innovation and trust.
The new buy bot, developed by grantee Bleu, now supports Balancer pools. This tool helps projects increase awareness of their token activity by sending automated messages on Telegram. Discover more and access the tool through the provided link and at our tools hub.
A proposal (CIP-45) by Karpatkey suggests a strategic partnership between CoW DAO and Balancer DAO to develop CoW AMM pools. The aim is to make CoW AMM the leading LVR-resistant AMM design. $COW holders are encouraged to vote on this proposal.
Aura also talked about the recent post by Fernando Martinelli on the Balancer forum that outlines the protocol’s future. Balancer v3 aims to simplify development, improve yield-bearing liquidity, and reclaim MEV for LPs, building on v2’s success.
The next Balancer grantee is addressing a long-standing RFP to research dynamic fees aimed at mitigating LVR. Eridani has proposed an academic approach with deliverables in the form of implementable algorithms.
Stake DAO announces that Votemarket is now live for Balancer on Optimism, Base, and Arbitrum. Users can deposit vote incentives on these chains, with voters casting votes on the mainnet and claiming rewards where incentives were deposited. Powered by Axelar Network.
Balancer’s latest program commenced on June 21st, featuring coordinated protocols with $ARB grants, new AMM primitives, and a vote-based $ARB boost to bolster ecosystem liquidity. This initiative includes distributing 50k ARB weekly for 12 weeks, incentivizing voting markets and offering boosts for yield-bearing initiatives based on pool efficiency. Collaborations with Ether Fi, Gyroscope, and Lido have already launched, showcasing pools such as $weETH | $wstETH and rsETH | wETH, optimizing capital efficiency and liquidity on Arbitrum. Liquidity providers and protocols can participate via the ARB DEX.
- Balancer Rewards for GYD Pools on Polygon’s zkEVM
GYD pools on Polygon’s zkEVM are now earning BAL rewards, marking a significant milestone. GYD introduces a decentralized stablecoin to zkEVM, boasting efficiency, resilience, and a consistent peg across multiple chains. Recently, GYD LPs have emerged as critical players in zkEVM’s stablecoin liquidity ecosystem.
As is always the case, HiddenHand incentives can be explored here, the current round ends on June 26, 2024. And to date it has the following details:
- Total Votes: 4,780,362
- Total Rewards: USD 59,315.56
- Emission $/10k Votes: USD 654.1722
- Incentive $/ 10k Votes: USD 124.0817
Balancer: TVL and Stats — Defilytica
Balancer’s Total TVL across all networks is sitting at $929,48m.
The Total Mainnet TVL is $720,82m with a dominance of 77,55%.
Speaking of protocol volume metrics, in this last week we were able to see a cumulative volume of $702,66m.
As for protocol fee metrics, we can verify cumulative fees of $232,96k.
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 11.35%
- Mainnet — WETH / ezETH — currently at 6.62%.
- Mainnet — USDT / USDC / GHO — currently at 5.03%.You can find an overview of the current incentives on the Balancer Mainnet below:
This week there are 11 active proposals on Snapshot including the following:
- [BIP-626] Enable Gauges for 4 Heroglyphs Genesis Tokens
- [BIP-627] Enable syrupUSDC / sDAI Gauge (Ethereum)
- [BIP-628] Balancer & Cow Protocol Strategic Partnership — Launching CoWAMM Pools
BalancerDAO proposes a partnership with CowDAO to launch CoWAMM pools on Balancer. These pools, integrated with the CoW Protocol settlement contract, will resist leverage risks and ensure accurate pricing, enhancing liquidity and profitability for users. The collaboration aims to combine Balancer’s AMM expertise with Cow Protocol’s trading aggregation to advance DeFi accessibility and security, supported by token swaps and strategic liquidity seeding.
Proposal [BIP-372] updates standards for Balancer DAO service providers and includes grantees. Service providers (SPs) commit to upholding ecosystem values, including accountability, anti-fraud measures, and data privacy. Grantees must also adhere to these standards, ensuring compliance with DAO code of conduct, transparency in marketing Balancer, and legal adherence. These guidelines apply universally to all current and future SPs and grantees to safeguard DAO resilience and growth.
The proposal outlines the role and initiatives of the Maxis team within Balancer DAO, specifically aimed at enhancing on-chain operations and supporting the rollout of innovative projects such as CoWAMM and Balancer v3. Their responsibilities include governance oversight, infrastructure automation, partnership management, and data analytics. The budget request is designed to sustain these efforts, ensuring efficient utilization of resources aligned with Balancer’s treasury holdings to foster continued growth and stability of the protocol.
The proposal extends the technical services and advisory role of Beethoven X DAO within Balancer DAO for an additional 6 months (July 1, 2024 — December 31, 2024). Beethoven X DAO has been instrumental since May 1, 2023, contributing to API development, frontend enhancements, and technical leadership roles. Their primary focus includes preparing for the launch of Balancer v3, improving documentation, supporting integrations, and optimizing the Balancer SDK. They also play a crucial role in developing the Balancer subgraph for v3, enhancing data quality, and integrating with external platforms like DEX Screener. This extension aims to further streamline operations, enhance developer support, and drive innovation within the Balancer ecosystem.
The Beethoven X Marketing SP seeks an extension of funding to support Balancer DAO’s mission as a leader in AMM innovation from July to December 2024. Over the past six months, their efforts have focused on creating educational content, engaging the community on social media, developing strategic partnerships, and refining Balancer’s visual identity. They have laid the groundwork for the launch of Balancer v3, aiming to reaffirm Balancer’s position in AMM innovation through strategic marketing initiatives. The proposal requests $30K USDC per month to cover team salaries, including two full-time contributors and part-time roles in design and educational content.
This proposal seeks to secure funding for Balancer Grants for Q3 2024, focusing on driving Balancer V3 adoption through new integrations, a hook bounty program, and ecosystem partnerships. Funding is requested for a three-month period starting July 1st, allocating 75,000 BAL for new grantees and 15,000 USD in USDC for committee expenses. Led by Burns and including John Grant, Mike B, Steve0xp, and Zen Dragon, the committee pledges to adhere to Balancer DAO’s accountability guidelines. Key focuses include supporting current grantees, promoting V3 projects, and co-funding with blockchain ecosystem initiatives, utilizing existing treasury funds to sustain operations and foster growth.
This proposal seeks funding for Balancer OpCo Limited (“OpCo”), the administrative and operational arm of the Balancer Foundation supporting the Balancer DAO. OpCo manages contractual relationships, invoices, and payments for service providers within the ecosystem. Under the governance of the Balancer Foundation, OpCo handles software subscriptions, legal compliance, and governance-related counsel. This proposal requests 522,168 USDC and 12,000 BAL for Year 3 (Q3 FY24 to Q2 FY25) to cover administrative expenses across four quarters. The budget includes costs for corporate structure, legal compliance, governance, risk management, accounting, community support, and network infrastructure necessary for Balancer’s operational integrity and upcoming V3 launch.
The Business Development Service Provider (BDSP), established under BIP-525 in Q1 2024, aims to drive growth and partnerships within the Balancer ecosystem in Q3 2024. Led by Lipman, key objectives include launching Mode and Fraxtal on Balancer, expanding liquidity on new chains, strengthening presence on Layer 2 solutions like Arbitrum and Optimism, and preparing for Balancer V3 integration. The BDSP will execute governance requirements, support grant programs, and extend yield-bearing initiatives across various ecosystems. They pledge adherence to the DAO’s Code of Conduct and Accountability Guidelines, with a budget of $30,000 USD and 4,386 BAL for the quarter, including a discretionary fund of $6,000 USD.
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/
Are you looking for a grant? Learn more here.
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.
