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graviAURA (vote locked AURA)

graviAURA is a new vault by BadgerDAO that is part of the emerging AURA/veBAL ecosystem.
graviAURA is a semi-liquid locked AURA token designed to support its own liquidity on Balancer. To get graviAURA you have to deposit Aura in the Badger graviAURA vault.
Important Note: Unlike other Badger Setts, this Vault limits the times when users may withdraw their funds. Please carefully read the sections on Locking and Unlocking.
What makes graviAURA unique is the new voting processor that is built to align perfectly with Balancer.
graviAURA will vote as follows:
  • 90% of each graviAURA deposited into a Balancer pool will vote for the pool it is deposited in
  • 90% of each naked graviAURA will vote to collect bribes if possible. If there are no bribes, BadgerDAO will buy for 1/10th value of the emissions from the vote in BADGER.
  • 10% of the vote will be allocated to BadgerDAO to vote at its discretion.
    • Badger will allocate 50% of it’s vote weight fee to support ecosystem relevant gravAURA pools such as graviAURA/AURA/auraBAL/ETH for at least the first 3 months after the first gauge is approved in order to help with ecosystem bootstrapping.
    • Another part of the vote weight allocation could go towards bootstrapping the new graviAURA paired pools. Like voting for a newly launched pool for a couple weeks to get some initial TVL going there.
    • Longer term, the vote weight would go towards Badger related pools that are a part of the flywheel, like Badger/WBTC or Badger/WBTC/graviAURA.

How to Deposit:

This vault accepts deposits of AURA.
  • You must first hold Aura in your wallet before beginning the process. Aura can be swapped for on Balancer.
  • graviAURA is the Badger Locked Aura token and is acquired when users deposit into the graviAURA Locked AURA Sett.
  • Once you have Aura in your wallet, you will simply deposit into the vault to earn rewards.

Locking & Unlocking:

This vault locks batches of AURA tokens for a period of 16 weeks.
Tokens are locked once a week just before 00:00 UTC on Thursday.
As tokens unlock, they are available to withdraw from 00:01 UTC on Thursday, until the next weekly locking event when they are relocked along with new deposits.

Vault Fees:

  • Any underlying emissions for veBAL will be autocompounded into graviAURA. A 3% performance/caller fee will be charged.
  • 10% of the vote weight controlled by graviAURA will be allocated to Badger to be used as it wishes.
  • A 5% fee will be charged on all bribes processed.
If/when BadgerDAO needs to do extraordinary work in processing bribes, airdrops or other irregular rewards, BadgerDAO will charge a processing fee of the greater of $30,000 USD or 10% of the value processed. Airdrops of less than $30,000 USD in value will not be processed.

Exit liquidity:

As graviAURA is part of multiple LPs it allows users to buy/sell graviAURA on the open market freely. As a result, even when withdraws are not available, graviAURA positions can be exited by selling the graviAURA token.

Aura Voting Delegation:

The vault delegates its AURA voting power to to the Badger Voting engine. Rewards are claimed and processed through the Badger Bribes Processor.

Use cases:

DAOS and LPs:

  • A way to build sustainable Balancer pools that continue to have vote weight which is kept in balance as part of the pool makeup. (Each graviAURA votes 90% for the Balancer pool it is deposited in)
  • A system to help get started on Balancer / get a gauge and bootstrap liquidity.
    • As Badger learns to do this for ourselves we can provide templates to help people easily launch a gauge and use graviAURA to build sustainable liquidity.
  • A potential market to shop for votes with bribe money.
  • A portfolio management tool to help build pools that increase returns on your sensibly paired holdings.

Individual Holders:

  • An auto compounding, bribe farming, semi-liquid AURA token.
  • graviAURA in wallets will seek to earn bribes from the following sources:
    • Badger at 1 to 5 bribe/emissions ratio, if nothing else.
    • Hidden hands.
    • Eventual ability to place a direct bid to the gravAURA contract (in gravAURA) which will be executed if there is no better deal.
  • Something to deposit into other pools you are Farming.

Example:

A pair could be made of 10% graviAURA / 45% BAL / 45% wETH which will automatically receive the percentage of votes from graviAURA that make up the pool. If the total market cap of graviAURA is $100m and the graviAURA/BAL/wETH pool has $1m of graviAURA liquidity, it will receive 1% of the total vote weight for graviAURA.