The Balancer Report
In the last week, and as always, Balancer kept building. And here, we update this report to all our followers and supporters.
Overview
The Total Mainnet TVL is $1.09B. The amount is $233.1M from V1 and $861.7M from V2. And we can see a very slight decrease compared to last week.
Polygon TVL is at $36.9M, registering a decrease of about 15% compared to the $43.8M of the previous week.
Arbitrum TVL increased to $12.3M. Almost unchanged compared to the $12.4M of the previous week.
Balancer on Optimism by Beethoven X sits at $3.6M TVL, which is 10% less than the $4.0M of last week.
Daily LP revenues for Mainnet V2 averaged around $27.1k last week with daily LP revenue peaking at $36.9k on September 22.
Liquidity Mining
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 - COMP / WETH - currently at 34.81%.
Mainnet - wstETH / WETH - currently at 18.81%.
Polygon - WMATIC / stMATIC - currently at 8.57%.
You can find an overview of current LM incentives on Balancer Mainnet below:
Ecosystem
Aura continues to accumulate veBAL, their current holdings stand at over 24.7%.
Here are the current bribes at HiddenHand. The next round begins on September 29.
Here’s a reminder that Balancer’s bug bounty is one of the largest in DeFi (up to $1M). You can find more details in this thread.
You can't miss this explanation if you don't know what MetaStable Pools are.
Scam alerts
Dubstard shares a warning about phishing pages imitating Balancer:
There’s a new discord scam done through malicious javascript commands, never click on suspicious links and check out the full thread here.
Governance:
Last week saw 7 votes on Snapshot with the following outcomes:
[BIP-71] Enable wstETH/weth Gauge [Arbitrum]
[BIP-72] Enable wstETH/USDC Gauge [Arbitrum]
[BIP-73] Whitelist the gauge for the USDD/FRAX/USDC Pool to receive BAL emissions
[BIP-74] Fund the Balancer Maxis for Q4 2022
[BIP-75] Orb Marketing Budget Proposal for Q4
[BIP-76] Balancer Grants Budget Proposal Q4 2022
[BIP-77] Friendly Balancer Protocol Fees for Integrators
Meeting the fam
In this section, we will be interviewing the different members of the team so that you can get to know them better.This week we have Zen Dragon (Twitter: @Zen__Dragon)
Where do you live?
I live in the US, near NYC
Whats your (educational/professional) background?
I have a Bachelor’s degree in Petroleum & Natural Gas engineering and work on the production side of the industry.
How many languages do you speak?
I only speak English, but would love to learn Spanish.
You are the co-leader of Grants. Tell us about the importance of that team for the Balancer ecosystem.
Firstly, the grants team is great to work with and for. We take pride in our ability to enable upcoming or established teams to pursue their visions while building on Balancer. The team is lucky to be exposed to so many unique ideas and people throughout the entire web3 community. The Balancer ecosystem really will continue to flourish with innovative builders being welcomed with open arms, and we get to help jump start that process. I may be biased, but the Balancer Grants team is a staple in Balancer’s ecosystem and I look forward to all the future projects we will bring forward.
What does being a Maxi Balancer mean to you?
Being a Balancer Maxi is an interesting role. Putting the community’s interests ahead of anything else is what it means to me, at its core. I am very happy to provide an opinion on changes the DAO proposes and help Balancer improve in any way I can. In my mind Maxi’s are meant to be the team that pushes Balancer in a positive direction and provide support in any capacity that we can. I think I can speak for all of the Maxi’s when I say we all are very proud of the role the community has permitted us to have.
Tell us your contributor story.
My contributor story, like many, started with an investment into Balancer. I became infatuated with the constant product of multi-token pool mathematics in the whitepaper and spent all my time simulating it to start. When people began asking technical questions about pool pricing, pool mechanics, price impact, etcetera; I was happy to answer and help out. After enough iterations of answering questions, I decided to apply for a grant and write documentation with in depth examples of what Balancer is doing “under the hood”, and this worked out great coupled with a veBAL explainer section. From there I got much more involved in governance and helped Xeonus with building balancer.tools site, which to this day is still a great tool for helping new users, and now am lucky enough to work with both the grants and Maxi teams.
What's your favorite thing about Balancer?
There is a tie for my favorite thing about Balancer. My favorite thing about Balancer, the application, is how configurable it is for new builders to come in and use the building blocks our great technical team has created to create their new products. This is tied with my other favorite thing, which is the connections I have built with the teams we have here. I genuinely feel as though I am part of something meaningful, and have made friends in the process.
What is the most positive thing about being part of Balancer DAO?
I think one of the best things about Balancer DAO is that we are very open to change and new ideas. A newcomer or innovation does not scare Balancer as a whole. We welcome improvements and conversations around all fronts of what is in the DAOs control, making us a great place for community members to participate.
How do you expect to see Balancer evolve in the near future? And how do you expect Balancer DAO to reflect those changes?
I think we are going to be blown away by just how important the technical advancements of managed and boosted (composable) pools will be. This is currently a calm before a great storm of new ideas and use cases for projects, investors, and traders to leverage Balancer in a way many of us may have never imagined.
The DAO itself may reflect on these changes with a simple sense of, look how far we have come. If everything goes as positively as I anticipate, we may even be overwhelmed by the amount of onboarding we will go through when these new products are being leveraged to their full capacity.
You are a role model for new contributors. How do you feel about that?
To even see this question is humbling. I never planned to become a role model by any means, I started out idolizing all the ballers, and helped out however I could, simply for the good of the community. It feels great to see that these contributions have value, I hope anyone who is a new contributor is well aware that everyone in the DAO was new at some point.
Tell us about what you want. This is an open space.
I just want to see Balancer thrive the way it deserves. The teams who put so much effort into making such a well constructed market maker, taking it from the v1 launch to where it is today, and where it will be in 3-6 months, deserve to take a step back and enjoy how good of a job they are doing.
Get involved
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/
Want to become an international ambassador instead? Make sure you fill out the form
Are you looking for a grant? Please fill this form out, and we’ll get back to you with the next steps.
And if you speak Spanish, make sure you give Balancer Español a follow.