# MGP-17┃Update Treasury Strategy - MIMO/wETH Protocol Owned Liquidity Transition

**URL:** <https://gov.parallel.best/t/mgp-17-update-treasury-strategy-mimo-weth-protocol-owned-liquidity-transition/317>\
**Category:** Approved PGPs\
**Created:** [December 4, 2023, 1:53pm UTC](https://gov.parallel.best/t/mgp-17-update-treasury-strategy-mimo-weth-protocol-owned-liquidity-transition/317 "2023-12-04T13:53:05Z")\
**Posts on this page:** 4\
**Page:** 1

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**Author:** ![JeanBrasse](https://dub1.discourse-cdn.com/flex005/user_avatar/gov.parallel.best/jeanbrasse/32/28_2.png) [@JeanBrasse](https://gov.parallel.best/u/JeanBrasse)\
**Post date:** [December 4, 2023, 1:53pm UTC](https://gov.parallel.best/t/mgp-17-update-treasury-strategy-mimo-weth-protocol-owned-liquidity-transition/317/1 "2023-12-04T13:53:05Z")

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**Summary:**

This proposal aims to modify the Parallel treasury strategy by transitioning the current protocol owned liquidity to a 80/20 MIMO/wETH Balancer pool on Polygon PoS.

**Rationale:**

Following the approval of [MGP-16](https://gov.parallel.best/t/mgp-16-restructure-mimo-token-liquidity-incentives-on-ethereum-and-polygon-pos/313), which restructured the MIMO token liquidity on Ethereum and Polygon PoS, we propose to switch the current and future protocol owned liquidity from MIMO/p-cs-kp-usd 80/20 to MIMO/wETH 80/20. This strategic shift is driven by the need to enhance liquidity for MIMO tokens while optimizing treasury holdings.

Proposed treasury strategy update:

- Ethereum: (no changes)

- Polygon PoS: (changes)

**Means:**

- Human Resources: DAO Multisig will need to coordinate and execute transactions to facilitate the asset transition and liquidity provisioning.

- Treasury Resources: Existing MIMO/p-cs-kp-usd POL will be reallocated to MIMO/wETH POL.

**Technical implementation:**

- Current MIMO liquidity POL:

- Future MIMO liquidity POL:

**Voting options:**

- For Treasury Strategy Update
- Against Treasury Strategy Update
- Abstain

Authors: @starny & @JeanBrasse from Mimo Labs

_Community poll:_

_Poll ([view on site](https://gov.parallel.best/t/mgp-17-update-treasury-strategy-mimo-weth-protocol-owned-liquidity-transition/317/1))_

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**Author:** ![NL.1](https://dub1.discourse-cdn.com/flex005/user_avatar/gov.parallel.best/nl.1/32/62_2.png) [@NL.1](https://gov.parallel.best/u/NL.1)\
**Post date:** [December 4, 2023, 9:08pm UTC](https://gov.parallel.best/t/mgp-17-update-treasury-strategy-mimo-weth-protocol-owned-liquidity-transition/317/2 "2023-12-04T21:08:09Z")

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Thanks Starny, Jean, team and multisigs

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**Author:** ![starny](https://dub1.discourse-cdn.com/flex005/user_avatar/gov.parallel.best/starny/32/32_2.png) [@starny](https://gov.parallel.best/u/starny)\
**Post date:** [December 7, 2023, 8:23am UTC](https://gov.parallel.best/t/mgp-17-update-treasury-strategy-mimo-weth-protocol-owned-liquidity-transition/317/3 "2023-12-07T08:23:56Z")

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[https://snapshot.org/#/mimo.eth/proposal/0x6d9baff9588d2a0d99e61510ca2e92e6b4c93b17bd878bafe76a6ba8960291ab](https://snapshot.org/#/mimo.eth/proposal/0x6d9baff9588d2a0d99e61510ca2e92e6b4c93b17bd878bafe76a6ba8960291ab)

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**Author:** ![starny](https://dub1.discourse-cdn.com/flex005/user_avatar/gov.parallel.best/starny/32/32_2.png) [@starny](https://gov.parallel.best/u/starny)\
**Post date:** [December 12, 2023, 3:56pm UTC](https://gov.parallel.best/t/mgp-17-update-treasury-strategy-mimo-weth-protocol-owned-liquidity-transition/317/4 "2023-12-12T15:56:16Z")

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✅ With over 4.9M votes from [$vMIMO](https://twitter.com/search?q=%24vMIMO&src=cashtag_click) holders, MGP-17 was approved!