Aura Finance: Chakra Alignment (01 July 2023)

Meditators! Welcome to the latest Chakra Alignment Newsletter. This edition will cover Aura's launch on Arbitrum!

The eagerly awaited launch is finally here. An attestation of the hard work of Aura contributors, now the Aura contracts, UI and pools are updated with Arbitrum’s information, and all meditators have another place to align their chakras and contemplate the smooth yield generation.

The Ecosystem Partners are finishing the details to deploy their voting incentives to bring the new relaxing centre to its full working capacity. It’s time to take a deep breath and prepare to focus as you go through the 10th Chakra Alignment.

Key Stats:

Total Value Locked $0.54B

Percentage of veBAL controlled: 32.54%  -  (an increase of over 0.6%)

Total vote-locked Aura: 19.M - (0.2M increase!)

Top 3 Incentives providers for vote-locked Aura

🥇 Rocket Pool’s MetaStable rETH/WETH w/ $101K rewards allocated

🥈 Rift’s ComposableStable R/DAI w/ $75K rewards allocated

🥉Synapse’s 50/50 SYN/WETH w/ $46K rewards allocated

News

Aura is now on Arbitrum

On June 20th, Aura arrived in Arbitrum and opened its cross-chain chapter. As THE holistic ve-System, this first step was important to set everything in place for future new chain deployments.

Aura received a warm welcome from @arbitrum!

Aura’s arrival was noticed by @ARBAnalytics!

https://twitter.com/ARBAnalytics/status/1673768843687366657

And by @arb_insider_TIG!

https://twitter.com/arb_insider_TIG/status/1671368758529765382

The upcoming ARB/BAL/AURA pool also caught the attention of Arbitnauts.

https://twitter.com/ARB_Universe/status/1673483056760356865

Youtube

Blockbytes gave an overview of how Aura works. Nice explanation from @charlie_defi!

Governance

Passed - [AIP-31] Arbitrum DeploymentWe are pleased to present a proposal for Aura Finance's strategic cross-chain deployment onto Arbitrum. This significant initiative is the start of our cross-chain rollout and aims to unlock opportunities for Aura's growth and expand our presence beyond mainnet and level up the Balancer ecosystem. The vote passed unanimously in favor. Aura launched on Arbitrum as a result.

Passed - [AIP-32] Introduce Additional Reward Tokens to DOLA/USDC Pool

This proposal seeks to get the option to add additional rewards to the DOLA/USDC pool on Aura. Acquiring veBAL votes in the market doesn't always follow a predictable pattern, and there are situations where the actual results fall far below what was initially expected. We seek the ability to add direct rewards to the pool as a fallback for when an underperformance happens, allowing the DAO to seamlessly top up the rewards ensuring LPs APR is not hit. Maintaining deep TVL in the pool is crucial for Inverse Finance to safely operate it’s lending market, FiRM.

While there are some discussions on forum regarding long term plan of incentives and BAL wars, the vote passed nearly unanimously in favor. June 24, 2023 2:39 AM (GMT+1)

Passed - [AIP-33] Modify AIP-26 to Allocate Incentives for auraBAL/wstETH pool [Arbitrum]

This seeks to modify AIP-26 1 by re-allocating from that AIP’s prior auraBAL stable allocation, for at least 10 gauge cycles, each of 7.5k of Aura, to be used to incentivize the 55/45 auraBAL/wstETH pool on Arbitrum in the manner authorized by AIP-26 (and on HH’s Aura market on Arbitrum once launched by HH), with the remaining Aura for the auraBAL stablepool to be used for each such cycle per the parameters of AIP-26.

The vote passed unanimously in favour.

Passed - [AIP-34] Introduce Additional wstETH Reward Tokens to ma3WETH/wstETH

This proposal seeks to get the option to add additional rewards to the ma3WETH/wstETH 1 on Aura. Receiving veBAL votes in the market doesn’t always follow a predictable pattern, and there are situations where the actual results fall below what could be initially expected.

Specifically, the ability to contribute direct wstETH rewards to the pool would be useful as an additional mechanism to help bootstrap the pool in question.

While there are some discussions on forum regarding long-term plan for incentives, the vote passed nearly unanimously in favour.

Passed - [AIP-35] Fund the L1Coordinator with Treasury BAL

This post proposes funding the L1Coordinator contract with 25,000 BAL from the Aura treasury to bridge the delay between Sidechain deployments and Ethereum Mainnet, and ensure the continuous operation of the system.

The vote passed unanimously in favour.

Dashboards and Analytics

Voting incentives

Source: https://aura.defilytica.com/#/voting-incentives

Total voting incentives last round was around 400k, and this chart breaks it down by pool

Ecosystem Governance

To get the latest on Aura governance updates, head over to the Aura Discord and be sure to follow Aura Finance on Twitter.

Disclaimer

The Chakra Alignment series is a community driven newsletter and not official Aura correspondence. This edition has been written James K. from the Aura Maxis.