Aave Proposal; [ARFC] Add BAL Ethereum v3
This proposal presents Aave the opportunity to onboard BAL to the Ethereum v3 Liquidity Pool.
BAL is valuable for Aave, and earnings from the BAL pool can be used to promote GHO and the new aToken by AaveCompanies.
BAL's risk requirements match Gauntlet's initial discussion regarding assets to onboard to v3 Ethereum, and the community may vote on each asset individually before final approval via an on-chain AIP vote.
Aave v3 has listed BAL as a priority due to the strategic relationship between Aave and Balancer.
Aave has completed a token swap with Balancer and purchased an additional 100,000 BAL via a swap contract.
The potential use cases for veBAL are numerous in supporting the growth of Aave, and Balancer DAO is a significant provider of liquidity on Ethereum and Polygon v3.
Wildfire Stance: Wildfire supports this proposal because it ensures the growth of the Aave community and provides liquidity also.
Aave Proposal; [ARFC] Add CRV to Ethereum v3
This proposal allows Aave to onboard CRV to the Ethereum v3 Liquidity Pool.
CRV is a valuable asset for Aave and can be used to create veCRV to adopt GHO and incentivize the Safety Module.
The risk parameters for CRV are the same as those provided by Gauntlet for other assets considered for v3 Ethereum.
Assets are being presented individually to the community for consideration, with Snapshots determining how to proceed and approved assets grouped for on-chain voting.
Wildfire Stance: Wildfire supports this proposal because CRV's addition will benefit tAave both now and in the long term.
Balancer Proposal; [BIP-174] Enable wUSDR-USDC Gauge with a 2% Emission Cap [Ethereum]
Real USD (USDR) is a stablecoin backed by tokenized Real Estate.
It yields 8-10% and was created by Tangible, a RWA tokenization protocol.
Real USD governance is governed by locked TNGBL token holders.
They have their own oracles for properties but are working with Chainlink to get set up for true property valuations.
The Real Estate is managed by Tangible Custody, which collects rent and converts it to USDC.
Real USD has not lost its peg since launch and can be a good source of long-term revenue for Balancer.
Wildfire Stance: Real Estate usually generates a reliable return, but it still carries some level of risk. Wildfire is happy to support this proposal.
Balancer Proposal; [BIP-178] Enable bb-euler-USD Gauge [Ethereum]
Euler is a lending protocol that allows users to borrow and lend digital assets.
The platform offers yield-bearing sources for stablecoins such as USDC, DAI, and USDT.
These stablecoins are backed by dollars and are issued by Circle, MakerDAO, and Tether.
Balancer is focused on dominating the yield-bearing token space and improving capital efficiency.
Linear and boosted pool architecture allows for better trading routes and sustainable liquidity options for providers.
The partnership with Euler is one of many boosted pool options available to users as part of a great migration.
Wildfire Stance: Wildfire endorses this proposal as it presents enhanced trading paths and viable pool choices, granting liquidity providers better avenues to allocate their investments.
Balancer Proposal; [BIP-204] Enable bb-ag WBTC/WETH/USD Gauge [Gnosis]
The pool uses the WeightedPoolFactory-v3 and is composed of 2 linear pools and a boosted pool.
The underlying tokens are WBTC, WETH, USDC, USDT, and DAI, which will be wrapped through Agave's lending market to earn LPs additional yield.
The gauge will enter as a "core pool" under BIP-19, meaning protocol fees earned by this pool will be used to bribe for votes on it.
Agave is a direct fork of Aave's money market, built to bring Defi to Gnosis Chain for lower fees to participate overall.
The pool's motivation is to support major pairs on Balancer with Gnosis, position Balancer as a pillar in the ecosystem for trade aggregation, and drive liquidity depth on Gnosis Chain.
The boosted APR yield will persist for users organically and kickstart a flywheel for incentives to drive net positive growth for Balancer and LPs on the network.
Wildfire Stance: Wildfire is happy to support this gauge as it benefits the wider BAL community.
ENS TempCheck; ENS Token 2nd Airdrop
This TempCheck proposes a second airdrop for the 5.4 million tokens that went back into the ENS treasury after the first airdrop
The benefits of this token drop could reinvigorate current users and potentially reach new users who missed the first airdrop and are unable to vote on proposals.
The date when a user would have to register the ENS domain shall be agreed upon by the DAO and the execution of the airdrop shall be performed by the ENS DAO.
Wildfire Stance: Wildfire agrees that new users should have a chance to receive ENS tokens and be able to participate in the ENS governance.
Gitcoin Tempcheck; Should We Increase the Quorum?
In order for a proposal to succeed, a minimum of 2.5 million GTC must participate in the vote. Any changes to quorum requirements must be ratified by the community
Considering that this would only take a few delegates to pass a vote, on a slow week when a small number of people are paying attention to proposals a few delegates could pass malicious proposals.
Wildfire Stance: Wildfire stands behind increasing the voting quorum to help increase participation and take the potential power out of the hands of a few.
Bankless TempCheck; Swapping BanklessDAO Multi-Signers
This TempCheck’s purpose is to check the community sentiment on swapping out the BanklessDAO multi-sig signers.
Multi-sig signers were elected in S1 and never changed. 5/7 multi-sig signers are currently inactive.
Some of the proposed new guidelines for new signers such as:
must be a L2 contributor with at least 1 year contribution at bDAO.
must have held a leadership role in the DAO (i.e. coordinator, champion, GC).
must have experience with multi-sigs.
Wildfire Stance: Wildfire strongly agrees with this Tempcheck becauce it would allow more active members to step into a multi-signer position and set a standard of participation.