# Proposal to add wBETH/ETH to the Gauge Controller **URL:** \ **Category:** Gauge Proposals\ **Created:** [April 29, 2023, 8:09am UTC](http://gov.curve.finance/t/proposal-to-add-wbeth-eth-to-the-gauge-controller/9178 "2023-04-29T08:09:21Z")\ **Posts on this page:** 4\ **Page:** 1
**Author:** ![wbeth\_user](http://gov.curve.finance/user_avatar/gov.curve.finance/wbeth_user/32/1272_2.png) [@wbeth\_user](http://gov.curve.finance/u/wbeth_user)\ **Post date:** [April 29, 2023, 8:09am UTC](http://gov.curve.finance/t/proposal-to-add-wbeth-eth-to-the-gauge-controller/9178/1 "2023-04-29T08:09:21Z")
Gauge Proposal Template: Summary: Proposal to add wBETH/ETH pool to the Gauge Controller to enable users to assign gauge weight and mint CRV. Pool deployed here: [`0xBfAb6FA95E0091ed66058ad493189D2cB29385E6`](https://etherscan.io/address/0xBfAb6FA95E0091ed66058ad493189D2cB29385E6#code) Gauge deployed here: [`0x50161102a240b1456d770Dbb55c76d8dc2D160Aa`](https://etherscan.io/address/0x50161102a240b1456d770dbb55c76d8dc2d160aa#code) References/Useful links: Website: [Ethereum 2.0 Staking | Stake Ether & Get BETH | Binance](https://www.binance.com/en/wbeth) CMC Link: [Wrapped Beacon ETH price today, WBETH to USD live, marketcap and chart | CoinMarketCap](https://coinmarketcap.com/currencies/wrapped-beacon-eth/) Binance Announcement of wBETH: [Binance Introduces Wrapped Beacon ETH (WBETH) on ETH Staking | Binance Support](https://www.binance.com/en/support/announcement/binance-introduces-wrapped-beacon-eth-wbeth-on-eth-staking-a1197f34d832445db41654ad01f56b4d) Token Address: [https://etherscan.io/token/0xa2E3356610840701BDf5611a53974510Ae27E2e1](https://etherscan.io/token/0xa2E3356610840701BDf5611a53974510Ae27E2e1) Protocol Description: Binance is now enabling users to stake ETH and obtain a utility token called Wrapped Binance Beacon ETH (“wBETH”), which serves as a liquid representation of their staked ETH. wBETH is accessible on both the Ethereum and Binance Smart Chain networks and can be acquired by participating in Binance’s ETH staking program, either through the wBETH token contract’s deposit function or directly on the Binance platform. The exchange rate between wBETH and BETH will increase daily, reflecting the staking income generated through Binance’s ETH staking program. And it can be converted back to BETH and redeem ETH in binance. The exchange rate will be updated on a daily basis and max rate limit is APR 15%, and it’s the same on BSC and ETH. More details will be provided on [Ethereum 2.0 Staking | Stake Ether & Get BETH | Binance](https://www.binance.com/en/wbeth) Motivation: Adding a wBETH/ETH pool to the Gauge Controller will not only provide an opportunity for users to stake wBETH alongside ETH on Ethereum, but also attract more users to the platform. By allowing users to earn rewards in CRV tokens, it will deepen the liquidity for both wBETH and ETH, improving trading efficiency and fostering synergy between the two assets. Furthermore, it will enable Curve to continue expanding its role within the DeFi ecosystem and attract more users seeking liquidity mining returns. Implementation: 1. Deploy the wBETH/ETH pool and gauge contracts. 2. Add the wBETH/ETH pool and gauge to the Gauge Controller. 3. Allow users to stake wBETH/ETH LP tokens in the gauge to start earning CRV tokens. 4. Stimulate user participation in staking wBETH/ETH LP tokens in the gauge by marketing and promoting the new pool and gauge through social media platforms, blog posts, and targeted advertisements. 5. Monitor staking performance and user engagement in the gauge, making necessary adjustments to enhance the user experience and accommodate the demand for wBETH/ETH swaps. Conclusion: We believe that adding the wBETH/ETH pool and associated gauge to the Gauge Controller will attract more users interested in trading and providing liquidity for popular DeFi tokens such as wBETH and ETH. Through this addition, Curve can strengthen its position within the DeFi ecosystem, allowing for more seamless and efficient transactions between users. By offering CRV rewards to users for staking wBETH/ETH LP tokens, Curve will continue to incentivize user participation in the platform and maintain its role as a leading liquidity provider in the DeFi space. ---
**Author:** ![Supremacy](http://gov.curve.finance/letter_avatar_proxy/v4/letter/s/bb73d2/32.png) [@Supremacy](http://gov.curve.finance/u/Supremacy)\ **Post date:** [May 4, 2023, 1:22pm UTC](http://gov.curve.finance/t/proposal-to-add-wbeth-eth-to-the-gauge-controller/9178/2 "2023-05-04T13:22:49Z")
👀 Hi, I heard you guys want to see this?[https://hackmd.io/@Supremacy/wbeth-centralization-risk](https://hackmd.io/@Supremacy/wbeth-centralization-risk) ---
**Author:** ![sovereignllama](http://gov.curve.finance/user_avatar/gov.curve.finance/sovereignllama/32/1260_2.png) [@sovereignllama](http://gov.curve.finance/u/sovereignllama)\ **Post date:** [May 4, 2023, 1:44pm UTC](http://gov.curve.finance/t/proposal-to-add-wbeth-eth-to-the-gauge-controller/9178/3 "2023-05-04T13:44:53Z")
How much veCRV does Binance hold? ---
**Author:** ![wbeth\_user](http://gov.curve.finance/user_avatar/gov.curve.finance/wbeth_user/32/1272_2.png) [@wbeth\_user](http://gov.curve.finance/u/wbeth_user)\ **Post date:** [May 10, 2023, 12:43pm UTC](http://gov.curve.finance/t/proposal-to-add-wbeth-eth-to-the-gauge-controller/9178/4 "2023-05-10T12:43:43Z")
The wBETH contract on BSC has been updated, addressing the issue where the “rescuer” role had access to the ETH stored in the wBETH contract. With this update, the security concerns related to unauthorized access have been resolved, ensuring improved safety for users and their assets. upgrade tx: [Binance Transaction Hash (Txhash) Details | BscScan](https://bscscan.com/tx/0x9af54e7b6031a36f4c990f19435f46b90ba1e8824d7087ba319907004504d899) new implementation address: [WrapTokenV1BSC | Address 0xA77E9Ac1a564D56E0A36b6F5126e881e3C5208ed | BscScan](https://bscscan.com/address/0xA77E9Ac1a564D56E0A36b6F5126e881e3C5208ed)