Summary
Upgrade the Balancer Gauge staker to fully accrue BAL rewards.
Proposal
The Tribe DAO has previously vote escrowed ANGLE to earn rewards on the Angle protocol, modeled after Curve. Balancer also forked Curve and the same Tribe DAO code was used as Angle to lock veBAL and stake. Due to some code differences between the Angle system and Curve not present in Balancer, some BAL rewards are not accruing.
This is a technical upgrade which would transition the protocol’s LP tokens to a new staking contract. The veBAL must remain in the prior contracts because it is locked.
Until the code to delegate the boost from the prior contract is developed, the boost (~1.07x) will not be applied to the new staking contract. Given the relatively small boost and higher opportunity cost of not earning rewards, this proposal is to move forward with the upgrade and develop the boost delegation with the Balancer team later.
This proposal follows the Tribal Council process, and is currently staged for signing in the Tribal Council Timelock, and will then have a 4 days veto window timelock.