掀起 BAL 的「Balancer War」之争？速读 0xMaki 新项目 Aura Finance

Foresight ResearchPublished on 2022-04-08Last updated on 2022-04-08

Abstract

从某种程度上讲，Aura Finance 之于 Balancer，定位颇似 Convex 之于 Curve。

3 月 28 日，参考「CRV-veCRV」代币经济学的 veBAL 机制正式上线 Balancer，用户可锁定 80/20 BAL/ETH 池的 BPT（Balancer 资金池的流动性代币凭证）获得 veBAL，从而将 Balancer V2 的治理权、协议分红权与 veBAL 深度绑定。

合约


veBAL 上线 10 天以来，已有 23% 以上的 veBAL 被锁定
而 4 月 8 日，SushiSwap 联合创始人 0xMaki 则在 Balancer 治理论坛发起提案「在 Balancer 投票托管中允许列出 Aura Finance」（Allowlist Aura Finance in Balancer VotingEscrow），正式推出其基于 Balancer 收益治理的新项目 Aura Finance。
从某种程度上讲，Aura Finance 之于 Balancer，定位颇似 Convex 之于 Curve，那么 Aura Finance 究竟有着怎样的模型设计，又能否复刻「Curve War」，掀起对 BAL 的「Balancer War」之战？让我们对该提案一睹为快。
概述
该提案建议将 Aura Finance 列入 Balancer 投票托管合约的白名单，允许 Aura Finance 锁定veBAL（即以 80/20 BAL/WETH BPT 的形式）参与 Balancer 治理，并为 Balancer 生态系统参与者提供额外 AURA 奖励，而无需立即处理 BAL 奖励。
具体内容
Aura Finance 是一个建立在 Balancer 系统之上的新协议，通过汇总用户们的 BAL 存款和 Aura 的原生代币 AURA，为 Balancer 上的 LP 和 BAL 质押者提供最大限度的激励。
对于 BAL 质押者，Aura 通过创建一个代币化的封装代币 auraBAL，为 veBAL 提供无缝的使用流程：
auraBAL 代币代表在 VotingEscrow 中锁定最长时间的 80/20 BPT，用户可以在 Aura 中质押 BAL 以在 Balancer 获得现有的 bb-a-USD 奖励收入（Foresight News 注，由 USDT、USDC、DAI 和 aUSDT、aUSDC、aDAI 组成的 BPT，作为 veBAL 质押者可以获得的协议费用发放） 。
此外还包括 BAL 分配收入和 Aura 系统提供的额外 AURA 奖励，且用户可以随时通过 BPT 深度稳定池将 auraBAL 代币交易兑换回 BAL。
对于流动性提供商（LP），Aura 消除了 Balancer Gauge 加速池系统（gauge boosting system）的复杂性，为所有 Balancer 流动性 Gauge 存款提供流畅的使用流程——Aura 允许 LP 通过协议拥有的 veBAL 提升高额收益，同时还可以积累额外的 AURA 奖励。
而锁定在 Aura 中的 BAL 将停止流通，与 DAO 保持一致是我们的目标。
代币 AURA 与治理
Aura Finance 还提出了将 AURA 代币作为生态系统中的治理和激励工具，锁定的 AURA 代币将在系统中具有治理权，并且能够使用协议拥有的 veBAL 投票权进行投票，以此在 Balancer 之上创建一个繁荣的 AURA 生态系统。
与此同时，随着权力的增加，责任也会随之增加。这是一个巨大的经济力量，因为它在未来 20 年有效地控制 Balancer 激励的流动。因此这种控制必须是完全去中心化的，Aura 已经在系统中添加了投票授权，以使这一过程完全在链上进行。一旦投票者基础已经足够成熟，控制权将从 4/7 的多重签名转移到一套链上合约。
Aura 的 Voting 合约支持 EIP1271，这意味着链上投票的结果可以转发到 Snapshot，以参与 Balancer 治理。这一转变应该在 Aura 投票合约经过实际测试和选民基础成熟（发布后 3-4 个月）后进行。
在不给出太多细节的情况下，以下是 AURA 分发的快速概述：

  • 50% 按比例奖励分给在 Aura 上通过 Balancer LP 收到的 BAL；
  • 10% 发放给 auraBAL/BPT 流动性池，分 4 年时间释放；
  • 5% 奖励给 Aura/ETH 流动性池；
  • 17.5% 归属金库所有；
  • 2% 用于引导激励代币持有者；
  • 0.5% 发放给该提案的选民（投票许可的人员）；
  • 1% 用于未来激励；
  • 2% 用于 BAL 金库，分两年时间释放；
  • 2% 用于系统引导激励；
  • 10% 用于 Aura 团队激励，分两年时间释放；
  • 100% 公平推出，没有 VC、种子投资者；

AURA 的释放时间表如下所示：

合约

团队
Aura 团队由有着良好交付记录的 DeFi 建设者和先驱者组成，Aura Finance 目前正在接受 Peckshield 的审计，并计划再与顶级公司合作进行两次审计。
提案规范
建议 Balancer multisig 在合约上添加智能钱包检查器，随后在提案成功后将 Aura Finance 提供的 veBAL 存款人合约列入白名单，Balancer 团队将在列入白名单之前手动审查此合约。
为了保持 Aura 100% 的公平发行，并且没有风险投资，建议 Balancer 金库 DAO 为 Aura 金库提供 30 万美元的拨款，以补偿审计成本，并用于进一步的安全性。

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