On behalf of the Balancer community, I’d like to propose the following modifications to the token whitelist used for BAL governance distribution. As a reminder, these whitelist proposals are now pre-approved on objective technical criteria only, so they are not subject to community vote. All new tokens will be placed at
cap1 for liquidity mining, meaning each token’s measured BAL-eligible liquidity is scaled to a maximum of $1M (at time of writing). At any time, community members may propose to increase a token’s cap to the next tier. For reference, please see the previous proposals which detail the motivation for creation of the whitelist and define the list of tokens used to date. Links are included at the end of this post.
The following token has migrated to a new contract. I would like to propose modifying the existing whitelist entry for this token such that it points to the new contract. As a result, the old contract is no longer incentivized, and the new contract inherits the cap tier specified for the previous contract:
MIGRATE NOIA 0xfc858154C0b2c4A3323046Fb505811F110EBdA57 -> 0xa8c8CfB141A3bB59FEA1E2ea6B79b5ECBCD7b6ca
The following token is a special entry. Ampleforth ($AMPL) is a rebasing token with dynamic supply. On every supply change, normal Balancer pools containing $AMPL are at risk of being
gulp() attacked for a small loss of funds. However, Ampleforth and Balancer recently launched a USDC/AMPL smart pool which dynamically adjusts its asset weights on every $AMPL rebase. This behavior saves the smart pool - and only the smart pool - from the
gulp() attack, and as such this whitelist entry will be the first to apply only to a single pool.
ADD AMPL 0xD46bA6D942050d489DBd938a2C909A5d5039A161 (pool: 0x7860e28ebfb8ae052bfe279c07ac5d94c9cd2937)
I would also like to propose adding the following new tokens to the whitelist:
ADD ADX 0xADE00C28244d5CE17D72E40330B1c318cD12B7c3 ADD DEFI+L 0x78F225869c08d478c34e5f645d07A87d3fe8eb78 ADD FTT 0x50D1c9771902476076eCFc8B2A83Ad6b9355a4c9 ADD HEGIC 0x584bC13c7D411c00c01A62e8019472dE68768430 ADD MTLX 0x2e1E15C44Ffe4Df6a0cb7371CD00d5028e571d14 ADD xSNXa 0x2367012aB9c3da91290F71590D5ce217721eEfE4
The proposed changes will go into effect at 00:00 UTC on Monday, October 12. Pools containing whitelisted tokens will begin to accrue BAL rewards beginning at 00:00 UTC on Monday; but they may not appear on the Balancer pools UI with symbol/logo until a bit later in the week, most likely Tuesday or Wednesday. Please be patient. Furthermore, whitelisted tokens will not be added to the Balancer exchange UI; the core team adds tokens to the official exchange UI at their own discretion and considers a variety of factors. Tokens can always be traded using contract addresses in place of symbols, and anyone is free to fork the open source exchange UI to add more symbols.
Resulting Soft/Hard Pegs
The following price pegs will be added to the BAL mining scripts in response to the whitelist changes. At time of writing, soft pegs receive a
wrapFactor of 0.2 and hard pegs receive a
wrapFactor of 0.1.
There are no definitive pegs introduced this week. Instead, there are two open-ended peg questions, which will need to be solved by community discussion and/or governance vote:
- Is AMPL soft-pegged to USD?
- Is xSNXa hard- or soft-pegged to SNX?
No requested tokens were omitted this week.
Reference: Prior Proposals