Next steps: Establish 50/50 THX/stMATIC Balancer Pool

Following up on the discussions with Balancer and their upcoming BIP-19 emission changes (see Re-Enable the THX/USDC Gauge on Polygon - #6 by solarcurve - BAL Gauges - Balancer)

We move forward to establishing a 50/50 THX/stMATIC pool that will be much more likely to receive a gauge and $BAL incentives.

Next steps

  1. withdrawal 15% or about $40k of Quickswap 50/50 THX/USDC pool (details Gamma — The protocol for active liquidity management) calculations show that this will make the pool deep enough to just slightly be below Balancers 80/20 in liquidity depth USDC / THX Calculations - Google Sheets

  2. withdrawal 10% or about $80k of the 80/20 Balancer pool

  3. use the resulting 20k + 16k USDC to buy stMATIC on Polygon

  4. match the ~$36k stMATIC with appropriate amount of THX into a $70k seed for the new 50/50 THX/stMATIC pool

(note that any leftover THX will remain in the liquidity THX multisig matic:0x59429282A4e566373a1F2D5F20CF08184b46ee07)

5a) use GitHub - balancer-labs/balpy: Tools for interacting with Balancer Protocol V2 in Python. to create the new pool (since the new factory doesn’t have an UI)
b) ask Balancer to create the pool for us, an additional challenge might be that we want the pool to be multisig owned

Considering no major additional risks are identified, pending research on using ‘balpy’, and Balancer ships it’s new factory the above will be executed next few weeks.

Update from Balancer; pool and gauge has been created!

pool Balancer
2% capped gauge PolygonRootGauge | Address 0xb34d43Ada4105Ff71e89b8B22a8B9562E78f01E3 | Etherscan

withdrawal 10% or about $80k of the 80/20 Balancer pool

step 2 is done!