Balancer
2023
November 18: Balancer begins to incentivize with STIP $ARB incentives
- 171,429 ARB per epoch are allocated to external DAOs/protocol pools based on veBAL voting. (85,714.5 per week)
- All Balancer Arbitrum gauges are eligible.
- Pools are capped at 10% of the total weekly $ARB, except for ETH-based LSD stableswap pools which are capped at 20%.
- The program will run until the end of February.
- All ARB are distributed to gauges based on relative vote weight and an underlying boost factor.
November 2: Backend changes to voting gauges/pools data
- The deprecated voting-gauges.json file will be permanently deleted on November 27, 2023.
- Replacing the old file with a real-time API endpoint for better efficiency and reliability.
October 13: The STIP proposal passes successfully on Snapshot
October 11: Balancer’s proposal for Arbitrum’s STIP reaches quorum
- Requested Grant Size: 1.2M $ARB = 150,000 $ARB per 2 week tranche for 16 weeks.
- The purpose of this grant is to augment economic activity on Arbitrum by building an autonomous mechanism for distributing incentives in the form of ARB to boost all Balancer liquidity across the Arbitrum network. There are certain criteria that boosts certain asset classes and pool types depending on the composition and surrounding integrations of particular pools.
September 20: New DeFi series launched
- Kicking off a new DeFi Series called “Built On Balancer” in which we’ll break down all the teams using the most flexible infrastructure in DeFi to build decentralized primitives for the permissionless economy.
September 14: Balancer issues a full technical postmortem report regarding the recent security incident
- On August 22nd, the Emergency SubDAO and other trusted parties performed all possible mitigation measures, disclosed the vulnerability, and provided a UI for streamlined withdrawals, including handling staking and nested pools.
- The vast majority of funds at risk were withdrawn within 48 hours, leaving only a tiny sliver of the original frightening fraction of the Vault still at risk.
August 27: Balancer is made aware of an exploit related to the vulnerability disclosed earlier.
- To prevent any further exploits, users were advised to withdraw from affected LPs as soon as possible.
August 22: Balancer receives a critical vulnerability report affecting a number of V2 Pools.
- Emergency mitigation procedures were executed to secure a majority of TVL, but some funds remain at risk.
- Users are advised to withdraw from affected LPs immediately.
- The emergency procedure has paused several pools that are now deemed safe, however, these will remain paused, and users are still advised to withdraw when possible.
- At the time of Balancer writing the vulnerability, Balancer had not been exploited, and no funds were been lost.
August 3: Balancer launches on Base.
- A new Ethereum L2, incubated by Coinbase and built on the open-source OP Stack.
August 1: Balancer launches on Avalanche.
- To kick things off, sAVAX by BenQi, ankrAVAX by Ankr, yyAVAX by YieldYak, and ggAVAX by GoGoPool are harnessing Balancer technology from the get-go to supercharge and unite LST growth.
July 25: 1M $ARB incentives will be paired 1:1 with voting incentives on the Aura finance voting market.
- In April, Arbitrum Governance allocated 3M $ARB tokens to the Balancer DAO.
- This allocation is for the remaining 1m $ARB tokens.
July 20: Aave’s $GHO integrated.
- $GHO is Aave’s new decentralized stablecoin.
June 14: Balancer dApp go live on Polygon’s zkEVM.
- All network participants can now harness an interconnected baselayer for LSTs, Boosted Pools, and next-generation 80/20 governance tokenomics.
May 25: Layer 2 gauge migration go live.
- In preparation for $veBAL cross-chain boosts, users must migrate their L2 positions from their current gauge and stake into the latest iteration to continue receiving $BAL incentives.
May 17: Cross Chain Boosts introduced.
- Seamlessly sync $veBAL position and take advantage of $BAL Boosts on Layer 2s.
May 9: Snapshot for year 2 funding for the Balancer Foundation passes.
- The Balancer Foundation is a traditional legal entity that is directed by the DAO. It helps create a sustainable environment where many groups of people can participate
- Funding are:
- Q2 FY23 – USDC 99,094 – we propose this quarter is funded from existing reserves due to savings at the operating subsidiary.
- Q3 FY23 – USDC 59,219 – for transfer 25 June 2023
- Q4 FY23 – USDC 69,634 – for transfer 25 September 2023
- Q1 FY24 – USDC 105,344 – for transfer 15 December 2023
April 6: New boosted AAVE pools goes live.
- Built on Aave V3 markets, showcasing that DeFi is built on the principle of composability.
- Aave V3 is the most significant upgrade to the Aave Protocol, securing billions of dollars in permissionless smart contracts.
April 5: Integration with MEV Blocker.
- MEV Blocker works by routing all transactions through a network of searchers that is structured to block frontrunning and sandwich attacks.
- Searchers bid to backrun transactions coming from MEV Blocker, and MEV Blocker sends 90% of the profits to users (10% goes to validators)
April 4: Snapshot to deploy Balancer to Polygon zkEVM passes.
March 28: Emissions reduced by 16%.
- Dropping from 145,000 BAL per week, to 121,930. This step down, will reflect a inflation schedule for the halving every 4 years, with a gradual decrease at every veBAL anniversary.
March 21: Snapshot to deploy Balancer to zkSync passes.
March 7: Snapshot to deploy Balancer to Avalanche passes.
February 28: Creation of ecosystem council and amended self-insurance fund.
- By nature of their work, major participants and service providers (MPs-SPs) to the ecosystem are exposed to potential regulatory and legal liabilities.
- This proposal helps manage that risk.
- The Ecosystem Council is a group of active MPs-SPs to the Balancer protocol
February 28: Removal of MAI guages on Polygon and Arbitrum.
- QiDao will be migrating rewards out of the Polygon pool, so there is no reason to keep the gauge there.
- Similarly for Arbitrum, there are no bribes planned for that pool.
- QiDao bribes for Balancer will be focused on its Ethereum MAI-USDC pool.
February 17:
- Proposal to authorize the Emergency DAO access and mandate to disable v2 pool factories and grant permissions to v3 Weighted Pool Factory and v3 Composable Stable Pool Factory on Gnosis chain.
- Proposal for the Great Migration Wave 2.
- Proposal to transfer governance control on Polygon and Arbitrum to Ethereum DAO Multisig, Polygon Treasury, and Arbirtrum Treasury.
- Proposal to fund Messari reporting 2023.
- Proposal to wire up Authorizer Permissions on new linear pool factories.
February 16:
February 14: Logic Error Bug Fix Review, where a high-severity bug was discovered by a white hat hacker through ImmuneFi.
February 10:
- Proposal to grant permissions to Balancer Multisigs for v3 pool factories.
- Proposal for the Great Migration Wave 1.
January 20: Proposal to close Year 2 funding gap.
- Proposal B got the majority vote.
- Proposal B is to change the protocol revenue split to 35/65 veBAL/DAO and a follow-on proposal to sell 250k BAL for USDC via OTC within 30 days. Any DAO or interested party is welcome to present a proposal to take some or all of this allocation.
January 13:
- Proposal to fund Silverlight Labs (Revised).
- Proposal to kill vulnerable CSP pool gauges.
- Proposal to update Core Pool list.
- Proposal to authorize migration to GaugeAdder v3.
January 10: State of Balancer Q4 2022.
January 6:
- Protocol fees of some Balancer pools were set to 0 to avoid a now mitigated issue.
- This was done by the Emergency multisig.
- LPs of the following pools to be removed ASAP as the issue cannot be mitigated by the Emergency DAO:
- DOLA/bb-a-USD pool on Ethereum mainnet.
- bb-am-USD/miMATIC pool on Polygon.
- It’s MAI life pool on Beethoven X on Optimism.
- Tenacious Dollar pool on Beethoven X on Fantom.
- Proposal by Residual Token Inc to offer Balancer a license to BalancerP2P, a front-end interface to the ReserveLendingCore, which is an overcollateralized Pool-to-Peer lending protocol
- Proposal to fund Balancer Grants for Q1 2023.
- Proposal to fund Balancer Maxis for Q1 2023.
- Proposal to incentivize 8020 BPT staking (ve8020).
2022
December 16:
- Proposal to grant Balancer Labs authorization to set Arbitrum bridging fees.
- Proposal for unused gauges clean up – Take 2.
December 9:
- Proposal for a peace treaty between Aura, Balancer, and veBAL whale, Humpy.
- Proposal to swap BAL for USDC using Aave’s bonding contract.
- Proposal to authorize a multisig controlled by the Balancer Maxis, emergency subDAO, and a Blabs control multisig to set certain parameters for different pool types and factories.
- Proposal to claim SAFE tokens allocated to DAO multisig.
December 2:
- Proposal for Symmetric as the official Balancer-friendly fork on Celo.
- Proposal to use Mimic to automate fee collection and distribution.
- Proposal for Holdr, to be launched and operated by Solace DAO, to be a Balancer-friendly fork on Aurora.
- Proposal to appoint Danko to be the director of Balancer Foundation.
- Proposal to clean up unused gauges.
- Proposal to authorize PoolRecoveryHelper contract to put Weighted and ComposableStable pools in recovery mode and authorize Balancer Labs Ops Multisig to manage the RecoveryModeEnabler contract.
November 25: Proposal to adjust Balancer snapshot for Aura-AIP-17 (second vote).
November 18: Proposal to adjust Balancer snapshot for Aura AIP-17.
November 11: Proposal for Index Coop to partner with Balancer DAO.
November 4: Karpatkey Balancer Treasury Proposal Update (second vote)
October 28:
- Proposal for Fjord and Balancer to become exclusive partners for LBPs.
- Proposal to pay DAO Multisig stipends for H2’22.
- Proposal to allocate BAL liquidity to Silo Finance.
- Proposal to provide limited delegation of Balancer treasury to Karpatkey DAO.
October 21:
- Proposal to deploy liquidity bootstrapping pools to BNB Chain.
- Proposal to temporarily adjust Optimism fee split.
October 14:
October 10: Launch of Balancer Certora Security Accelerator in partnership with Certora.
September 30: Proposal to delegate Aave holdings to Llama.
September 23:
- Proposal to fund Balancer Maxis for Q4 2022.
- Proposal for Orb marketing budget for Q4 2022.
- Proposal for Balancer Grants Budget for Q4 2022.
- Proposal for Balancer-friendly projects to consider paying protocol fees to Balancer DAO.
September 17: Proposal to authorize Batch Relayer v4.
September 10:
- Proposal for operating procedures for DAOs selling their locked BAL position OTC.
- Proposal to grant Emergency subDAO and Balancer Maxis to Stable v2, compasableStable, and Weighted v2.
- Proposal for revised gauge migration to composable stable pools.
- Proposal to migrate lightly used gauges to a 2 % cap.
September 8: DefiLlama now tracks Balancer on DEXs dashboard.
September 2:
- Proposal A and Proposal B to introduce Gauge framework.
- Proposal approved with 2% emission cap.
- Proposal to increase snapshot quorum.
- Proposal approved to increase quorum to 2M veBAL.
August 26:
- Proposal to fund Balancer OpCo.
- Proposal to authorize Balancer Labs to initiate distributions on Optimism gauges.
- Proposal to enable cross-chain gauges via LayerZero.
- Proposal to allocate BAL liquidity. to Aave
- Proposal approved to allocate 100k BAL.
- Proposal for gauge migration to composable stable pools.
- Proposal to set protocol fee on yield.
- Proposal to grant permissions for Composable Stable Pool and Aave Rebalance Linear Pool to certain participants for security and efficient management purpose.
- Proposal to kill FEI-wETH gauge.
August 25: BAL goes live on Across Protocol
August 19:
- Proposal to redeem Treasury FEI for USDC.
- Proposal to support Balancer space delegation on Snapshot for vlAURA holders
- Proposal to allocate BAL towards the MLP LP.
- Proposal to provide BAL liquidity for bridging via Across Protocol.
August 4:
- Proposal to allocate BAL liquidity to Polygon and Arbitrum multichain bridge.
- Proposal to request BAL allocation to Orb Collective.
- Proposal to repay Aura treasury for unclaimed rewards.
August 2: State of Balancer Q2 2022.
July 29:
- Proposal to purge unused gauges (second vote)
July 22:
July 1:
- Proposal to incentivize core pools and L2 usage.
- Proposal to fund the Orb Collective.
- Proposal to fund the Ecosystem Ops and Development squad
- Proposal to fund Balancer Grants for Q3.
- Proposal to allocate BAL to a Ribbon Finance vault.
June 29: Bug bounty progress disclosure.
June 23:
- Proposal to seek funding for Balancer Foundation for 4 quarters till March 2023.
- Proposal to update DAO Multisig Replacement list.
- Propose to add Lewis (Stablecoin Labs), Mounir (Paraswap), Anna (Cowswap), Kaito (Utopia Labs), Mr Kind (Beethoven X), Huber (StakeDAO) to the approved replacement list.
- Proposal approved.
- Proposal to request BAL from treasury for June 2022 salaries.
- Proposal to fund the Balancer Maxis for Q3.
June 18: Proposal to update snapshot parameters.
June 6;
- Proposal to implement new gauge requirements.
- Proposal for new operating framework for Balancer DAO.
- Proposal to allocate BAL towards Ethereum-Optimism bridge liquidity.
June 2:
May 27:
- Proposal to amend the agreement for 1inch for integrating Boosted Pools.
- Proposal to allocate 31,250 BAL for Optimism incentives.
May 23: Proposal to form the Emergency subDAO.
May 20: Proposal to introduce ProtocolFeesWithdrawer contract.
- This is in response to the recent issue involving double entry-point tokens.
- This proposal provides a mechanism to continue with protocol fee distribution while keeping the tokens safe.
- Proposal approved.
May 18: Vulnerability disclosure of an issue in Stable Pools and Managed Pools.
- No user funds were at risk as the exploit could only be executed by pool owners or Balancer Governance.
May 14: Balancer Labs was notified of a potentially exploitable scenario through ImmuneFi.
- Involves double entry-point ERC20 tokens, included but not limited to Synthetix tokens, such as SNX and sBTC, and Balancer flash loans.
- Funds from two pools, SNX-wETH and wBTC-renBTC-sBTC, will be temporarily frozen.
May 11: Balancer v2 anniversary.
May 6:
- Proposal to allocate up to $2M in BAL to secure a BAL reactor in Tokemak CoRE3.
- Proposal to fund the integration of Boost Pools in 1inch.
May 4: State of Balancer Q1 2022 report.
May 3:
- Proposal for strategic partnership with Aave DAO with token swap.
April 29: Proposal to deploy Balancer to Optimism, managed by Beethoven X.
April 26:
- Proposal for DAO Multisig Signer replacements.
- Rotate off Ash Egan, Jake Brukhman, David Hoffman, and Cooper Turley.
- Add Ariah (Stablecoin Labs , 0xMaki, Stefan (Gnosis), Ernesto (former Aave), David Garai (Tempus), and Evan (CopperLaunch).
- Proposal approved
- Proposal to empower BalancerDAO to add approved gauges to veBAL voting.
April 22: Proposal to incorporate Balancer Foundation.
April 19: Proposal to distribute protocol fees in BAL where appropriate.
April 16:
- Proposal to fund BalancerDAO for Q2 2022.
- Proposal to allow TribeDAO to lock veBAL.
April 15: Proposal to decide on gauge unexpected behavior.
- It was found that the veCRV smart contracts that form the basis of veBAL system operate differently from initial expectations.
- Majority voted on keeping the system as is.
March 28: veBAL goes live.
March 26: Proposal to authorize Batch Relayer v2 for USD+ Boosted Pool.
March 25: Proposal to hand over swap fee and amplification factor control to the BalancerDAO.
March 23: Proposal for Symmetric to be the official friendly fork on Celo and Gnosis Chain.
March 22:
- Medium article on the veModel.
- Proposal for governance multisig to grant permission for coordinator smart contract to enable it to activate veBAL.
March 18:
- Vote to approve Hexagon Finance as the friendly fork on Avalanche.
- Proposal for evolution of BalancerDAO compensation.
- Proposal to delegate Treasury subDAO the power to invest protocol fees.
March 9:
- Proposal to commission quarterly financial reports through Messari Hub.
- Proposal to refund wstETH liquidity providers.
- In January, it was found that the protocol fee collector contract was collecting relatively large amounts of wstETH, which was unexpected due to the pool’s low trading volume.
- Upon investigation, it was found that there was an error in computing fees due to the rebasing nature of wstETH.
- A hotfix was deployed on January 21.
- To refund the protocol level fees collected from wstETH pool over the period of time when APR was incorrectly displayed plus a 2-week grace period.
- Proposal approved.
March 8: Medium article on Balancer’s Smart Order Routing
March 3: Shards Labs launches first MetaStable pool on Polygon.
February 25:
- Proposal to authorize treasury subDAO to allocate BAL to Turbo
- Proposal for governance process revamp 2.0.
February 21: Protocol fee set to 50% on Ethereum mainnet.
February 17: Protocol fee set to 50% on Polygon and Arbitrum.
February 15: Proposal to approve protocol revenue sharing for pool creators.
February 14: Proposal to increase protocol fee from 10% to 50%.
February 11: Proposal to introduce veBAL.
February 4: Beethoven X joins Balancer Lab’s bug bounty program
February 1: Gnosis treasury swap completed.
January 29: Proposal to fund Balancer DAO for Q1 2022.
January 25:
January 18: OlympusDAO establishes OHM as liquid asset on Balancer.
January 13:
- Proposal to increase flexibility of Liquidity Mining program.
- Proposal for Balancer subDAOs formation.
January 6: mStable treasury swap completed.
2021
December 31: Balancer 2021 Wrapped.
December 24: Announces treasury swap with mStable.
December 22: Proposal to structure a long-term collaboration with Tempus.
December 19: Proposal to invest Balancer’s FEI, TRIBE, MTA.
December 18: PrimeDAO treasury swap completed.
December 16:
- Proposal to authorize Balancer Labs to emergency pause for Boosted Pools.
- Proposal to authorize Gauntlet and Ballers Multisig to manage pool parameters for Boosted Pools.
December 15: Launch of Boosted Pools.
December 12: Proposal to approve the Batch Relayer.
December 9:
- Proposal for treasury swap with PrimeDAO.
- Proposal to activate the protocol fee.
December 6: Proposal for treasury swap with mStable.
December 4: Proposal to transition treasury control to governance multisig.
December 1: Pool creation UI is live on Balancer v2.
November 20: Vote to approve BeethovenX as the recognised friendly fork on Fantom.
November 17: Fei Treasury swap executed.
November 12: Announces that Balancer DAO and Fei DAO aligned their interests with a DAO agreement and a token swap of $9M at current market value.
November 2: Balance Grants Wave 2 goes live.
October 28: Proposal to fund Balancer Grants DAO Wave 2.
October 26: Proposal to end BAL for Gas program since Balancer-Gnosis Protocol launched.
October 25: Balancer-Cow-Protocol goes live.
October 21: Proposal to renew funding for Ballers.
October 10:
September 23: SourceCred goes live.
September 17:
September 8: Liquidity mining incentives on Arbitrum go live.
September 3:
- Proposal for a staling program and mechanism for BPT of BAL-wETH pool.
- Proposal to activate Sourcecred Program
August 31: Balancer goes live on Arbitrum.
August 19: Balancer Grants DAO go live.
August 16: Launch of Metastable Pools and partnership with Lido Finance.
August 14:
- Proposal to allocate BAL to Arbitrum.
- Proposal to authorize LidoRelayer for atomically wrapping and unwrapping stETH and wstETH during typical Balancer v2 operations.
August 13:
- Proposal to establish Balancer Grants DAO, an independent community-owned grants program for the Balancer ecosystem.
- Proposal to authorize Gnosis Protocol v2 contracts as a vault relayer on Balancer v2.
July 23: Balancer joins Coinbase Earn.
July 8: Launch of Stable Pools.
July 1: Announces that Balancer joins Polygon
June 25: Proposal to allocate BAL to Polygon.
June 19: Proposal to continue incentivizing liquidity in Aave-wEth v1 pool.
May 27: Raised $24.25M in Venture Round.
May 11: Balancer v2 go live.
May 8:
- Proposal by TokenArchitect for Balancer Ecosystem Fund to provide liquidity for BAL call options to match UMA’s contribution
- Proposal for BAL for GAS to be applied for Balancer v2 swaps.
May 4: Launch incentive program for IDO.
April 30: Announces partnership with TokenEngineering Academy to launch Balancer Simulations for open crypto-economic research.
April 28: Announces partnership with Gnosis to deliver a new DEX.
April 24:
- Proposal to give Balancer Labs authority for emergency pause.
- Proposal to give Gauntlet the power to set swap fees.
April 20: Balancer v2 smart contracts go live.
April 17:
- Proposal for Balancer v2 Liquidity Mining Program.
- The program will operate in 3 tiers. Tier 1 will be voted on by governance on a recurring basis while Tier 2 and Tier 3 pools will be strategically assigned by the Ballers Committee based on community sentiment.
- Proposal approved.
- Proposal to extend or not extend govFactor in Balancer v1 Liquidity Mining.
- Majority voted to extend govFactor.
April 16: Primer on Fair Token Launches and Liquidity Bootstrapping Pools.
April 10: Proposal to replenish budget for BAL for Gas.
- To replenish budget with 50,000 BAL.
- Proposal approved.
April 3: Proposal for a Balancer v2 GnosisSafe multisig.
- Proposal approved.
- Multisig initial signers include Alexander Lang (Inflection), Ash Egan (Accomplice), Davis Ramsey (pools.vision), Fabien Marino (Snapshot Labs), Jake Brukhman (CoinFund), Kain Warwick (Synthetix), Kevin Owocki (Gitcoin), Mariano Conti (Ethereum), David Hoffman (Bankless), Trent McConaghy (Ocean Protocol), and Cooper Turley (Fire-eyes).
March 27: Medium article on Balancer v2 being the One-Stop-Shop.
March 23: Announces partnership with Gauntlet to make dynamic-fee AMM pools.
March 6:
- Proposal for BAL for Gas, to provide estimates of BAL earned before making a trade.
- Proposal to uncap liquidity mining cap of AAVE.
- Majority voted to keep the Aave cap at $100M.
February 24: Announces partnership with Aave to build the first Balancer v2 Asset Manager.
February 20:
- Proposal to extend the Exchange Gas Reimburse Program for 4 weeks.
- Proposal to increase liquidity mining cap of AAVE from $30M to $100M.
- Proposal to increase liquidity mining cap of GNO from $10M to $30M.
- All 3 proposals were approved.
February 11:
- Proposal to increase liquidity mining cap of AAVE from $10M to $30M.
- Proposal to increase liquidity mining cap of TEL from $1M to $3M.
- Both proposals were approved.
February 6:
- Proposal to expand the Exchange Gas Reimbursement to all whitelisted tokens.
- Proposal to increase liquidity mining cap for DOUGH from $1M to $3M.
- Proposal to increase liquidity mining cap for DEF+L from $1M to $3M.
- All 3 proposals approved.
February 3: Introducing Balancer v2.
- Core tenets for v2 are security, flexibility, capital efficiency, and gas efficiency.
- Highlights include:
- Protocol Vault for all Balancer pool assets.
- Improved gas efficiency.
- Permissionless, customizable AMM logic.
- Capital efficiency through Asset Managers.
- Low gas cost and resilient oracles.
- Community-governed protocol fees.
January 29: Balancer v1 in review.
January 26: Exchange Gas Reimbursements go live
January 23:
- Proposal for Balancer Exchange Gas Reimbursement.
- Proposal for SourceCred engagement incentives.
- Proposal to increase liquidity mining cap for GNO from $10M to $30M.
- Vote ended with the liquidity mining cap remaining unchanged at $10M.
January 15: Proposal to increase liquidity mining cap for DEXG from $1M to $3M
2020
December 17: Proposal for govFactor, an initiative to incentivize governance participation.
- Proposal offers 10% boost to liquidity mining weight for LPs that participated in the latest snapshot vote.
- Active voters would receive slightly more BAL than non-voters each week.
December 11: Proposal to increase liquidity mining cap for AMP from $3M to $10M.
December 2: Integrated with Argent.
November 25: Proposal to increase liquidity mining cap for AMPL from $1M to $3M.
November 19: Balancer Ecosystem Fund Grants Batch #2 begins.
November 5: Proposal vote to approve Batch #2 of Ecosystem Fund Grants.
October 28: BAL distributions to be done through a claims contract from the current week onwards.
October 17: Proposal to increase liquidity mining cap for DUSD and CREAM from $1M to $3M each.
October 3: Proposal to increase liquidity mining cap for PERP from $3M to $10M.
September 24: Listed on Coinbase Custody.
September 19: Vote to contribute BAL from Ecosystem Fund to projects and developers that Gitcoin is supporting.
- Vote concluded with 62.79% voting for 10,000 BAL to be contributed to Gitcoin.
September 8: Smart Pool factory audit with TrailofBits completed.
August 25: Upgraded the exchange to use multi-path order routing and takes into account gas costs, which will improve overall pricing and gas usage.
August 22:
- Proposal to introduce BAL liquidity staking.
- Proposal to decrease liquidity mining cap for RPL from $10M to $3M.
- Proposal to remove DZAR from the whitelist.
- Proposal to increase liquidity mining cap for MKR from $10M to $30M
August 15: Proposal to update token whitelist process for BAL liquidity mining.
- Vote passed with 97.03% approval.
August 11: Full audit completed with OpenZeppelin.
August 6: New pool management dashboard goes live.
August 1:
- Proposal to reduce the wrapFactor from 0.7 to 0.2.
- Vote passed with ~94% approval.
- Came up with a list of affected addresses from the previous incident and the number of tokens they will get.
July 27: Proposal to approve the first batch of grants from the Balancer ecosystem fund.
July 20: All 3 proposals approved by the vast majority of voters.
July 18: 3 proposals up for votes:
June 30: Incident update #2 with non-standard ERC20 deflationary tokens.
- Balancer team received a bug bounty by Hex Capital on May 6.
- The bug bounty report describes in detail the attack that happened.
- The team did not think it would be a practical attack due to the large amounts of funds and gas they thought would be required.
- Hex Captial awarded the maximum amount available in the bug bounty.
- All users who lost funds will be reimbursed. STA and STONK to be reimbursed by their respective teams while Balancer will reimburse the other tokens.
- The next steps are to:
- Revamp the bug bounty review process
- Significantly raise awards for the different levels of vulnerabilities in the bug bounty program.
- Start a third major audit with OpenZeppelin, this was planned before the incident.
- Put together a detailed explanation of how the reimbursement process will be carried out.
June 29:
- Incident update #1 with non-standard ERC20 deflationary tokens.
- Attackers drained funds from 2 pools that contained tokens with fees, known as deflationary tokens. This only affects pools where a token has transfer fees.
- STA and STONK were the tokens in each pool.
- Transfer fee tokens will be added to the UI blacklist.
- Statera will reimburse STA tokens drained while Balancer Labs will reimburse other tokens.
- Single-asset deposits/withdrawals go live.
June 28:
- Proposal for token whitelist for BAL distribution.
- Proposal to cap eligible liquidity to $10M per token.
June 24: BAL token goes live.
June 18: Partner with Gnosis to offer a development grant to add Balancer to Gnosis Safe Apps.
June 12: Custom tokens are supported in pool creation.
June 6: Proposal to introduce a weight factor in liquidity mining.
June 1: Liquidity mining begins.
May 20: Completed full audit with ConsenSysAudits
May 18: Bug Bounty program goes live.
May 15: Proposal for governance tokens, liquidity mining schedule, and tokenomics.
April 1: Balancer goes live on Ethereum mainnet.
March 25: Closed Seed Round.
March 13: Balancer Contracts are open-sourced on Github.
2019
October 4: First Medium article released.
September 19: Balancer Protocol was created and Balancer Protocol Whitepaper released.
