The Balancer Report
Every week we share the latest ecosystem news and cover the most important governance developments. Let's dive in!
Balancer: TVL and Stats - DefiLlama
Balancer's TVL is $1.36bn. Distributed in the following manner:
The Total Mainnet TVL is $1.18bn and there is an increase of about 1.72% compared to the $1.16bn of the previous week. Being located in the twelfth position according to TVL.
The Polygon TVL is at $106.76mm, in which an increase of 2.43% is verified with respect to the $104.23mm of the previous week. Being in the third position according to TVL.
Arbitrum TVL is at $65.76mm, registering a decrease of 1.73% compared to the $66.92mm of the last week.
The Gnosis TVL is at $5.28mm, that is, a 1,34% increase compared to the $5.21mm of the previous week.
And finally, Balancer on Optimism by Beethoven X sits at $47.76mm TVL.
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 - wstETH / WETH - currently at 11.36%.
Mainnet - OHM / DAI - currently at 11.34%.
Mainnet - AuraBAL Stable Pool - currently at 9.60%.
You can find an overview of the current LM incentives on the Balancer Mainnet below:
Balancer launched new Boosted Pools on Aave V3
Aave V3 is “the most significant upgrade to the Aave protocol” and the deployment showcases the importance of pool composability for the DeFi ecosystem.
Aave also notes that external teams can use bb-a-USD to build other pools. The announcement mentions “...the high-security standard built into the Aave Protocol.”Balancer integrates MEVBlocker, a solution that aims to protect users from frontrunning and sandwich attacks.
Implemented together with CowSwap, it works by routing all transactions through a network of searchers that is structured to block any unexpected changes to swap quotes.
Balancer joins other leading protocols such as 1Inch, Paraswap, Karpatkey and more as a launch partner.Boosted Pools are an ecosystem staple and this thread posted by Balancer’s twitter account and authored by the BethovenX team explores them in detail.
The main value proposition of Boosted Pools is their ability to generate additional benefits on top of traditional LPing through protocols like Aave.
This is possible thanks to idle liquidity optimization through linear pool nesting. This means that several linear pools are used to wrap up to 80% of a boosted pool’s liquidity and put it to work through other protocols.
You can find more details in the thread and the docs.Morpho Labs launches a Morpho-Aave Boosted USD Pool.
It is based on three linear pools with USDC, USDT and DAI respectively. Here’s an overview of their composition:bb-ma2-USDC (consisting of USDC and wrapped maUSDC)
bb-ma2-USDT (consisting of USDT and wrapped maUSDT)
bb-ma2-DAI (consisting of DAI and wrapped maDAI)
It can also be nested with other Balancer pools.
Morpho is a peer-to-peer liquidity layer built on top of Aave V2. It aims to “match lenders and borrowers” in a decentralized way to increase capital efficiency.The latest Ethereum staking update authored by Tim is out!
Here are the numbers:
Total Staked ETH: Ξ18,176,809 / Staked Share of ETH Supply: 15.10%
Balancer remains the largest $rETH, the 2nd largest $sfrxETH and the 5th largest $wstETH holder
Here are the current bribes on HiddenHand. The round ends on April 13, 2023.
Last week saw 13 Snapshot votes with all of them being approved:
[BIP-229] Fund Balancer Grants for Q2 2023
[BIP-230] Fund the Balancer Maxis for Q2 2023
[BIP-231] Enable USDC-TNGBL 20-80 Gauge with a 2% Emission Cap [Polygon] [second vote]
[BIP-232] Enable ankrMATIC/MATIC Gauge [Polygon]
[BIP-233] Enable MaticX / bb-a-wMATIC Gauge [Polygon]
[BIP-234] Enable stMATIC / bb-a-wMATIC Gauge [Polygon]
[BIP-235] Enable TEMPLE/DAI 50/50 Gauge with 10% emissions cap [Ethereum]
[BIP-236] Enable WETH/3pool Gauge [Ethereum]
[BIP-237] Enable USH - ETH 50/50 Gauge with 10% emission cap [Ethereum]
[BIP-238] Enable wstETH/bb-a-wETH Gauge [Ethereum]
[BIP-239] Enable bb-a-USD gauge [Ethereum]
[BIP-240] Enable rETH/bb-a-wETH Gauge [Arbitrum]
[BIP-241] Aave v3 Migration
Balancer bits: Polygon zkEVM
Polygon zkEVM is the first zero-knowledge scaling solution that is fully equivalent to an EVM.
Polygon zkEVM is a decentralized Ethereum Layer 2 scalability solution that uses cryptographic zero-knowledge proofs to offer validity and quick finality to off-chain transaction computation, also known as a ZK-Rollup.
It is a rollup that combines data availability and execution verification on the Ethereum blockchain to ensure security and reliability of the L2.
It is an innovative solution that combines two key technologies: zero-knowledge proofs and Ethereum Virtual Machine (EVM) tech. The technology uses zkSNARKs to verify the correctness of computations within smart contracts while maintaining the privacy of their inputs and outputs. By doing so zkEVM can significantly reduce the cost of executing smart contracts while maintaining the security and finality of the Ethereum network.
One of the main benefits of ZK-EVM is its ability to reduce the gas costs associated with deploying smart contracts on the Ethereum network.
Building dApps on zkEVM is identical to Ethereum. Simply switch to the zkEVM RPC and start building on a network with much higher throughput and lower fees.
Another highlight is ZK-EVM’s scalability. ZK-EVM offers a solution to this problem: by validating transactions off-chain, it frees up valuable blockspace which in turn allows for higher throughput.
Dubstard shares a few warnings:
There is no "support" Discord server!
Do not join any other Discord servers related to Balancer apart from the current one, they are all scams.
Do not click any links sent to you in DMs.
There is no airdrop! Ignore any BAL tokens you may get "airdropped" in your wallet, which have URLs in the token name - those are wallet drainers!
Remember, Balancer labs operates primarily under the domain https://balancer.fi/
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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