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 $1.44bn. Distributed in the following manner:
The Total Mainnet TVL is $1.24bn and there is an increase of about 5.08% compared to the $1.18bn of the previous week. Being located in the twelfth position according to TVL.
The Polygon TVL is at $111.88mm, in which an increase of 4.79% is verified with respect to the $106.76mm of the previous week. Being in the third position according to TVL.
Arbitrum TVL is at $85.22mm, registering a significant increase of 29.59% compared to the $65.76mm of the last week.
The Gnosis TVL is at $5.72mm, that is, a 8,33% increase compared to the $5.28mm of the previous week.
And finally, Balancer on Optimism by Beethoven X sits at $51.23mm TVL.
Ethereum’s long-awaited Shanghai Upgrade is now completed! The upgrade also known as the Capella hard fork brings staking withdrawals along with other smaller but nonetheless important updates.
According to Vitalik, “the hardest and fastest parts of the Ethereum protocol's transition are basically over”.
You can find more details on this Ethereum Foundation page along with an FAQ.In the first phase of Euler Finance's exploit redemption, the DAO has collaborated with TempleDAO and Inverse Finance. LPs are urged to check the linked forum post out for updates on the current state of the process and next steps. The attached analysis will be accessible for Euler to utilize in distributing redemption funds allocated to the Balancer Vault, if undisputed.
Please check out the forum post for more details.Balancer’s Discord hosted the DAO’s quarterly update. Balancer’s service providers and contributors shared their progress updates, milestone reviews and Q2 plans.
The DAO always aims to be transparent and approachable so feel free to listen to the recording shared above and don’t hesitate to get in touch if you have questions or would like to get involved.Cron Finance, a Balancer grantee, has launched their Time-Weighted Average Market Maker on Ethereum, enabling large transactions with minimal slippage.
The TWAMM operates with the help of Balancer Custom Pools and processes large orders as smaller 'virtual' orders over time. Long Term Swaps are filled in 'chunks' and arbitrageurs minimize slippage by making the process gradual.
They benefit from lower swap fees and traders benefit from better prices thanks to low slippage. The LT system design allows dedicated arbs to share a portion of the Miner Extractable Value with the respective LPs of the trade.
This deployment marks another exciting step for the Balancer ecosystem. Want to become a grantee? Fill out the Wave 8 form now!Bitfrost, a protocol that offers “cross-chain liquid staking” across 9+ blockchains, deploys their composable metastable $vETH / $ETH pool on Ethereum mainnet.
Jones DAO opens jAURA deposits. According to them, it is “an advanced auto-compounding vault that automatically maximizes $vlAURA holdings for users”. It has two different configurations: an LSD vault and a non-tokenized Vault which aim to complement each other.
You can learn more about jAURA in this thread.Here are the current bribes on HiddenHand. The round ends on April 20, 2023.
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 - OHM / DAI - currently at 10.93%.
Mainnet - wstETH / WETH - currently at 10.56%.
Mainnet - BADGER / rETH - currently at 8.64%.
You can find an overview of the current LM incentives on the Balancer Mainnet below:
The Vault
The Vault is the core of Balancer; it is a smart contract that holds and manages all tokens in each Balancer pool and is responsible for most Balancer operations (swaps / joins / exits).
The Vault architecture separates token accounting and management from pool logic, simplifying pool contracts.
This architecture allows for different pool designs under the same umbrella, making it easy for anyone to create a custom pool plugged directly into Balancer's existing liquidity. The Vault is designed to keep pool balances strictly independent, protecting against malicious or negligently designed tokens or custom pools from draining funds from other pools. Even though the Vault may hold consolidated liquidity of a particular token from multiple pools, the depth of that combined liquidity does not change the price impact in the individual pools.
You can learn more about The Vault in our documentation.
Last week saw 11 Snapshot votes with all of them being approved except for [BIP-242]:
[BIP-242] Enable LUCHA/wMATIC Gauge [Polygon]
[BIP-243] Enable cbETH/bb-a-wETH Gauge [Ethereum]
[BIP-244] Enable bb-a-USD Gauge [Arbitrum]
[BIP-245] Enable bb-a-USD Gauge and kill bbamUSD Gauge [Polygon]
[BIP-246] Enable wstETH/bb-a-wETH Gauge [Arbitrum]
[BIP-247] Enable wstETH/bb-a-wETH Gauge [Polygon]
[BIP-248] Enable COMP/wstETH Gauge [Ethereum]
[BIP-249] qETH Gauge Migration w/2% cap [Ethereum]
[BIP-250] Enable jAURA - ETH 80/20 Gauge w/10% emissions cap [Ethereum]
[BIP-251] Migrate BAL to Aave Ethereum v3
[BIP-252] Timeless 50k BAL Grant Application [ve8020 Program]
Like every week, Dubstard shares a few warnings:
There is no airdrop, fee reduction, wallet rectification, remediation, synchronization, node sync, merge promotion, etc. Those are all fake sites designed to steal assets.
Do not open any links sent to you in DMs from anyone pretending to be "mod," "admin", etc.
Remember, Balancer labs operates primarily under the domain; https://balancer.fi/
The following sites are all just scams;
balancer-defli[.] com
balancer-airdrop[.] com
balancer-airdrop.pages[.] dev
Balancer-claim[.] site
balancerairdrops[.] xyz
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.
If you speak Spanish, make sure you give Balancer Español a follow. And if you speak Portuguese, follow Balancer Brasil.