As part of Balancer’s Composable Stable Pool migration, swETH Liquidity Providers (LPers) in Balancer’s Boosted swETH Pool (swETH-bb-a-WETH) will need to migrate their liquidity to continue receiving Balancer incentives. This includes LPers in balancer-based protocols such as Aura, Pendle, Penpie, and Equilibria. (Note that the new commute-only SwETH pool will not be affected.)
The migration includes several of the largest balancer pools and aims to solve a fee collection issue. As described in BIP-366: “By migrating to these new pools, balancer LPs are in a secure position while protocol fees can continue to be collected by the DAO. While no funds are at risk in the current state, the migration will once again allow for this core pool cycle and protocol charging.”
swETH is one of several balancer pools to be migrated.
Swell is now working with Balancer to streamline the liquidity migration process ahead of the existing Balancer pool display being retired during the week of August 14th. From this point forward, Balancer emissions will no longer flow into the old pool, however LP individuals are still entitled to Pearls in Swell Voyage.
However, by LPing in the new Balancer Pool, you will get Pearls for DOUBLE the price of LPing. (Note: Pearls earned at the increased rate for the new balancer pool are already accumulating in the background, but will not be immediately available in the Swell Dapp’s Voyage UI until a later date.)
To help you migrate your liquidity, we have prepared the following guide:
How to migrate your liquidity
By including any of the protocols in the balancer stack, you can now migrate your liquidity to:
- We have set up a new dedicated swETH pool on Pendle; Incentives with bribe rewards from Equilibria and Penpie.
- Our new balancer pool.
All pools mentioned, including the existing balancer pool, are eligible for Pearls in Swell Voyage.
First, simply follow the steps outlined below for migrating from the protocol you use to provide liquidity in Balancer:
Should you require any further advice, the Swell team is always at your disposal. Please contact our dedicated Discord channel: Balancer Migration.
https://discord.gg/swellnetworkdao
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