Since Balancer's Composable Stabel Pools market-making algorithm is highly suitable for trading pairs of related assets (Correlated Tokens) such as vETH/ ETH , after completing the vETH 2.0 upgrade, we migrated the official Liquidity pool of vETH/ ETH to Balancer.
As of May 26, the vETH/WETH Stable Pool has reached $1,623,360 TVL on Balancer, with a cumulative volume of $2,877,586. You can add both vETH and WETH to the pool to provide Liquidity, or you can provide vETH or WETH unilaterally. vETH/WETH Pool address:
https://app.balancer.fi/#/ethereum/pool/0x793f2d5cd52dfafe7a1a1b0b3988940ba2d6a63d0000000000000000000004f8
Additional income from staking Liquidity certificates
Provide Liquidity on Balancer to obtain Liquidity certificate BPT, and provide Liquidity to vETH/WETH Pool to obtain BPT-vETH/WETH. After obtaining BPT-vETH/WETH, you will continue to receive Swap fees. On this basis, you can stake it to further earn more income. There are currently two pledge paths, and you can choose any one.
Choose to pledge BPT-vETH/WETH on Balancer to get BAL income , operation tutorial: vETH / ETH Farming Operation Guide
Choose to stake BPT-vETH/WETH on Aura Finance and get BAL & AURA rewards at the same time.
Among these income methods, a single BPT-vETH/WETH cannot be pledged at the same time. At present, the overall rate of return of staking in Aura Finance is higher than that of another option.
Provide Liquidity on Aura
First, after providing Liquidity for vETH/WETH on Balancer, you will get BPT-vETH/WETH, and then you need to pledge BPT-vETH/WETH to Aura Finance. The operation steps are as follows:
Step 1: Open the link and connect the wallet
https://app.aura.finance/#/pool/96
Step 2: Select BPT on the right to provide Liquidity
Step 3: After entering the number of Tokens provided, click Approve to complete the chain signature
Step 4: Click Deposit & Stake to charge Liquidity into the vETH/WETH pool
Balancer & Aura's Gauge Voting Mechanism
Gauge voting is a special governance mechanism. Its inventor is the Stablecoin exchange protocol Curve, and it has been widely used in the Liquidity incentive process of DeFi protocols. Balancer currently also adopts the Gauge voting mechanism . Under this mechanism, Balancer will provide LP with BAL rewards, but the rewards for each trading pair pool are different. share of veBAL .
Aura Finance also uses the Gauge voting mechanism to decide how to distribute the veBAL in the protocol treasury. The voting volume of Aura's governance token vlAURA determines which pools to vote for veBAL, and vlAURA users can earn voting income from the Gauge pool.
If you have AURA in your hand, you can convert AURA to vlAURA and participate in the subsequent rounds of Gauge voting. The operation interface:
https://app.aura.finance/#/lock
There are many ways for various pools to compete for more voting rights in Gauge voting. In addition to buying or borrowing BAL from the market and converting it into veBAL, they can also encourage the holding of veBAL through voting incentives (or Bribe) Those who vote for the pool.
Bifrost Launches Voting Incentives on Aura
In order to increase the rate of return of vETH/WETH, Bifrost will also provide considerable voting incentives. In Aura Finance's Gauge voting, alAURA holders who vote for the vETH/WETH Pool will share these rewards. In the first round of Gauge voting on Aura Finance, Bifrost has provided $5,000 worth of ETH as a voting incentive, and these rewards will be distributed to vlAURA users who vote for vETH/WETH.
This round of Aura Gauge voting has been opened in Aura Snapshot at 10 am on May 25th, Beijing time. Regarding rewards, please look forward to the opening of incentives on Hidden Hand. You are also welcome to search for vETH/WETH to vote vlAURA to earn multiple benefits.
Aura Snapshot Gauge Pool Poll:
ETH
Hidden Hand voting incentives:
https://hiddenhand.finance/aura
summary
The Liquidity depth of vETH is an important part of the vETH product experience. Whether it is directly providing BNC incentives, or leveraging more BAL and AURA incentives through voting incentives, the goal of Bifrost is always to build deeper Liquidity.
During this process, Bifrost also provides vETH users with the opportunity to obtain excess returns. If you have vETH, in addition to obtaining basic Staking benefits, you can also obtain transaction fee benefits through group LP. On this basis, You can also obtain multiple additional benefits, including AURA incentives, Aura protocol sharing, Bifrost voting incentives, and the final comprehensive rate of return can reach a very considerable level, far exceeding various ETH and LSD agreements on the market.
What is Bifrost?
Bifrost is a scalable, Non-custodial decentralized full-chain liquid staking dedicated parachain based on Polkadot Layer-1. It has provided standardized Liquidity staking Derivatives for 9 or more blockchain networks (Ominichan LSD).
Bifrost's mission is to aggregate more than 80% of the staking Liquidity of the PoS consensus chain through Cross-chain Derivatives , and provide standardized Cross-chaininterest for Polkadot relay chains, parachains, and heterogeneous public chains bridged with Polkadot Derivatives , lowering the threshold for user staking, increasing the ratio of Multichain pledges, improving the revenue base of ecological applications, and creating a StakeFi ecosystem that empowers users, Multichain, and ecological applications and positively circulates.
At present, Bifrost has received millions of dollars in financing from NGC, SNZ, DFG, CMS and other institutions and the Grant of the Web3 Foundation. It is also a member of the Substrate Builders Program and Web3 Bootcamp .
Official website https://bifrost.finance
Whitepaper https://whitepaper.bifrost.finance
Github https://github.com/bifrost-finance
Twitter https://twitter.com/bifrost_finance
Telegram https://t.me/bifrost_finance
