tetuBAL
tetuBAL is a liquid market product for the Balancer platform.

Features of tetuBAL

  • Permanent Locking
  • Governance rights and increased value for dxTETU
  • Balancer revenue earnings, swap fees and liquidity mining rewards
  • Max boost for locking veBAL for the maximum period
  • Exit Liquidity
  • Low costs

veBAL

veBAL is Balancer's governance product. Through veBAL, users can lock their 80/20 BAL-WETH liquidity pool tokens to boost the rewards of deposited assets, obtain voting rights, and receive a portion of Balancer's revenue. You can learn more about veBAL

tetuBAL

tetuBAL is the liquid market product offered by Tetu for the Balancer platform. This strategy marks the beginning of Tetu's innovative interaction between multiple blockchains; utilizing the Ethereum network from the convenience of the Polygon network to provide minimal fees and a seamless experience for users.
Through tetuBAL, users will be able to obtain most of the benefits provided by locking veBAL for the maximum period, such as increased revenue share from Balancer, and a higher multiplier on gauge weight voting for BAL emissions, all while having the option to enter or exit the position as you please on the polygon network.
To enter the tetuBAL vault users must deposit both BAL and WETH on Balancer Pool on Polygon to get the B-80BAL-20WETH BPT token, and then deposit the BPT token into the Tetu vault for tetuBAL.

Locking

tetuBAL locks 80/20 BAL-WETH LP in veBAL for a maximum period of 1 year. At the end of the locking period, the assets are locked for a maximum period of 1 year again so that all assets deposited in tetuBAL are practically locked forever. So, despite the exit liquidity option provided to users, tetuBAL provides permanent liquidity deposited in the Balancer protocol.

Governance and dxTETU synergy

Voting rights on Balancer DAO proposals provided by veBAL are still preserved by Tetu, so that dxTETU holders can vote and decide on Balancer proposals. In this way, tetuBAL users waive the right to vote on governance proposals in exchange for the benefits provided by the product, as a result dxTETU token obtains an even greater value provided by the backing of veBAL assets permanently deposited in the Tetu ecosystem. dxTETU holders can vote to direct veBAL votes from Tetu assets through reflect governance voting in Tetu snapshot.

Rewards

Tetu will claim rewards weekly on Balancer and users will receive rewards in wrapped tetuBAL and xTETU. All rewards comes from Balancer revenue earnings, swap fees and liquidity mining rewards.

tetuBAL liquidity

tetuBAL can be traded in the tetuBAL-BPT liquidity pool available on Polygon. In addition to exit liquidity, the pool can also be used as an option for the direct acquisition of tetuBAL. This feature can provide advantages for buying tetuBAL directly when tetuBAL is priced below the peg instead of minting tetuBAL by depositing the 80/20 BAL-WETH LP into tetuBAL. This will also provide opportunities to arbitrage as the stability of the peg fluctuates.

Balancer's governance structure

BAL token holders have the option to stake their tokens into veBAL for a chosen period of time in order to receive more voting power for the gauge weight voting, and to increase revenue and rewards they receive from Balancer. The benefits received scale with the duration of the lock, ranging from minimum boosts with a two week lock, to maximum boosts with a one year locking period.
veBAL holders have the power of directing weekly gauge emissions to specific Balancer pools. 90% of the weekly rewards are directed by veBAL gauge weight voting, with the remaining 10% being strategically allocated for partnerships by the Liquidity Mining committee.
BAL token emissions are now distributed into the ecosystem with new allocations; veBAL holders are allocated 10% of BAL rewards, proportional to the percentage staked out of the entire veBAL balance staked. 56% of BAL rewards are reserved for Ethereum mainnet pools, while Polygon pools and Arbitrum pools receive 17% and 7%, respectively. All gauge weights for Ethereum, Polygon, and Arbitrum pools are voted for by veBAL holders on Ethereum.
Users can still earn some liquidity mining incentives and swap fees from Polygon and Arbitrum, but they are unable to receive the boosted liquidity mining rewards and 75% of the protocol earned fees that veBAL holders are entitled to on Ethereum. This is where Tetu steps in, providing to all users, regardless of chain, the benefit from the boosted liquidity mining rewards and protocol earned fees.

tetuBAL Multi Sig

There is a dedicated contract on the Ethereum network, BalLocker, this contract has the unique role of voter. Only the voter can be used to vote on gauges and participate in snapshot proposals.
Gnosis Safe: 0x84169ea605619C16cc1e414AaD54C95ee1a5dA12
Gnosis Safe
Name
Address
belbix - Tetu team
0x0644141DD9C2c34802d28D334217bD2034206Bf7
Marc Zeller - AAVE team
0x329c54289Ff5D6B7b7daE13592C6B1EDA1543eD4
Grendel - Polygon DAO
0xE4067ED66738dBDC7b8917703C8c380d898033F8
Hamzah - Polygon Team
0xc156C57231a9302D9f5C7b5eF22871cC25F40736