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# System prepended metadata

title: Activate BAL emissions for the veMPH gauge

---

# Activate BAL emissions for the veMPH gauge

## Summary
Proposal to activate BAL emissions for the 80MPH/20WETH gauge. The first ve80/20 outside of Balancer itself!

## Link to
Balancer pool address: [0x3e09e828c716c5e2bc5034eed7d5ec8677ffba18](https://etherscan.io/address/0x3e09e828c716c5e2bc5034eed7d5ec8677ffba18)
Gauge address: [0x1a2DC832188327e0C59F6801d79b8C5c395161BC](https://etherscan.io/address/0x1a2DC832188327e0C59F6801d79b8C5c395161BC)
Website: https://88mph.app/
Docs: https://docs.88mph.app/
Twitter: https://twitter.com/88mphapp
Discord: https://discord.gg/95pw2uQ7PE
GitHub: https://github.com/88mphapp
Snapshot: https://snapshot.org/#/88mph.eth
Coingecko: https://www.coingecko.com/en/coins/88mph
DeFi Llama: https://defillama.com/protocol/88mph

## Protocol Description
* [88mph](https://88mph.app/) is an Ethereum protocol allowing users to get a fixed yield rate with a custom or preset maturity for various supplied assets, such as BAL (5.70% fixed APR today) DAI, USDC, WBTC, ETH, etc. 
* When users/protocols supply assets, 88mph acts as an non-custodial, fully on-chain intermediary between them and third-party variable yield rate protocols to offer the best fixed yield rate on their capital.
* Fair-launched with a product on mainnet since November 2020.
* [Non-anon team](https://baconlabs.dev/) building dApps since 2017. Learn more about us in this [interview](https://defiprime.com/88mph).
* Strong community (see [Discord](https://discord.gg/95pw2uQ7PE)).
* 88mph v3, our latest version, was audited by Trail of Bits in August 2021. Since inception, 88mph's users didn't experience any fund loss.
* 88mph has always be involved and supportive of the broader Ethereum and DeFi communities by funding grants and hackathons in order to improve our space.

## MPH token infos (Jul 14, 2022)

Contract: [0x8888801af4d980682e47f1a9036e589479e835c5](https://etherscan.io/token/0x8888801af4d980682e47f1a9036e589479e835c5)
Current Total Supply: 1,567,141 MPH
Circulating Supply: 1,247,833 MPH
Maximum Supply: 1,888,888 MPH
Current Holders: 4,537 
Total Value Locked: $8.5M
Market cap: $2.9M
Current price: $2.4
More stats: https://88mph.app/stats
Coingecko: https://www.coingecko.com/en/coins/88mph

88mph hit an all time high of $236.50 on Feb 12, 2021 (over 1 year).

88mph had an all time low of $2.02 on Jun 30, 2022 (14 days).


It's mainly traded on DEX like Bancor, Uniswap v2, and SushiSwap. The current DEX aggregated liquidity for the MPH:ETH pair was close to $1.5m on average in June. Unfortunately, we're still unsure about the next steps for our liquidity on Bancor.

## Motivation:
* Our 2022 focus revolves around the release of 88mph v4. This new version is adding a venomics layer on top of our existing deployment with an interesting twist inspired by Balancer.
* 88mph's governance recently [voted FOR](https://vote.88mph.app/#/proposal/0x83842c17f0bb039871a67daee32b74da903cad9ee96689648df26ec7f281fc48) the use of the 80MPH/20WETH Balancer pool token as the locked asset for veMPH. 88mph's users will be able to vote for their preferred gauges weights and at the same time provide a sustainable way to lock liquidity for the community.
* The community also [voted FOR](https://vote.88mph.app/#/proposal/0xb5927e62e03a2c6349b04460d01ae5a654b57d6527fa670a1f48c731e991c8c4) the allocation of 73k MPH towards some protocol owned liquidity and incentives. The plan is to use these assets as incentives on Aura protocol to boost our Balancer gauge weight and get an effective way to build a sustainable source of liquidity while having a meaningful incentive to lock liquidity for our end users via our venomics. In our opinion, what Balancer democratized with the 80BAL/20WETH lock in their venomics is the most elegant solution we have found in this space so far.
* The release of 88mph v4 planned in the coming days should bring a surge in our trading activity on Balancer due to the aforementioned points and the willingness of our end users to get the biggest share of the MPH rewards pie on their preferred 88mph gauges. 
* Our  80/20 Balancer pool will become the primary source of liquidity for MPH on chain.

## Specifications

### Governance
* [Dev funds](https://etherscan.io/token/0x8888801af4d980682e47f1a9036e589479e835c5?a=0xfecBad5D60725EB6fd10f8936e02fa203fd27E4b)
* [Goverance treasury (6/9 signers)](https://etherscan.io/token/0x8888801af4d980682e47f1a9036e589479e835c5?a=0x56f34826Cc63151f74FA8f701E4f73C5EAae52AD) 
* [Tokens distribution](https://vote.88mph.app/#/proposal/0xb5927e62e03a2c6349b04460d01ae5a654b57d6527fa670a1f48c731e991c8c4)


### Oracles
88mph doesn't rely on any external oracles for prices. We have our own internal oracle to pull the 30d EMA of the variable rates from the underlying lending markets we use.

### Audits
* smart contracts : https://docs.88mph.app/developer-docs/security
* protocol dynamics : https://cadlabs.medium.com/fixed-income-built-on-volatile-yield-simulating-a-novel-class-of-defi-protocols-d10629484069

Centralization vectors: the governance msig controls the smart contracts with a 48h timelock.

### Market History
Nobody can deny that there is an high volatility on MPH, probably similar to many DeFi projects since 2H 2021.

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We'll be more than happy to answer any question that could arise from this proposal in the comments below.

[McFly](https://twitter.com/guillaumpalayer), cofounder 88mph.