Proposal to add mevETH/ETH pool on Ethereum to the Gauge Controller

Gauge Proposals
#1

Summary:
Proposal to add mevETH/ETH pool on Ethereum to the Gauge Controller

References/Useful links:

• Website: https://www.mev.io/
• Documentation: https://docs.mev.io/
• Github Page: https://github.com/manifoldfinance
• X: https://twitter.com/mevdotio  
• Discord: https://discord.gg/mevprotocol
• Medium: https://medium.com/@mevdotio

Protocol Description:

The MEV Protocol is a collaborative innovation designed to revolutionize Ethereum’s network security and decentralization. It is forged by the pioneers of the first ETH staking service and notable figures in Ethereum infrastructure. The protocol introduces mevETH, a Liquid Staking Token (LST), aimed at optimizing value for validators.

The MEV Protocol’s approach harnesses relayers, block proposers, and block builders to enhance the MEV supply chain. Reward avenues encompass the validator base fee, LP incentives, and the multiple auction winners previously discussed. Additional reward developments are on the horizon…

Transparency and fairness in block validation are offered through a variety of options, allowing validators to decide who receives the rights to their blocks. The protocol recognizes that such crucial decisions should not be monopolized by a single organization in private.

mevETH has over 28,000 ETH staked in it and has been receiving rewards since mid-August.

Motivation:

Curve provides the most efficient swapping mechanism for soft-pegged token pairs, such as liquid staking tokens and their underlying assets. An incentive gauge on the mevETH/ETH pool will attract more liquidity providers, enhancing the pool’s liquidity and trading experience. This will allow users to execute larger trades, and swap between mevETH and ETH seamlessly and quickly, subsequently attracting increased trading volume.

Specifications:

  1. Governance: 5/8 multisig address: 0x617c8dE5BdE54ffbb8d92716CC947858cA38f582. It has the power to upgrade the contracts & modules.

  2. Oracles: N/A

  3. Audits:
    Manifold mevETH2 Audit :: Kebabsec — bug squashing squad living on chain 🐞🎯
    https://github.com/Shungy/kebabsec-website/blob/main/content/audits/Manifold_Finance_mevETH2_Audit.md

  4. Centralization vectors: Same as #1

  5. Market History: Relatively new. It has been active since 2023/10/11. Current TVL is ~ $120K on Curve

  • mevETH/ETH Pool: 0x429ccfcca8ee06d2b41daa6ee0e4f0edbb77dfad
  • mevETH/ETH Gauge: 0xefb7471eb9a858b92438356216dd0c19b1d43300

Vote:
https://dao.curve.fi/vote/ownership/484

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