Summary:
This proposal aims to update the DAO Treasury Strategy following recent protocol updates.
Rationale:
In line with the recent protocol updates the DAO treasury strategy needs to be updated to support these updates.
- Current Treasury Strategy:
- General:
- Every month, swap net accumulated (after service providers payment, etc…) paUSD and PAR to get a 30/35/35 split in $ equivalent in wETH (30%), paUSD (35%) and PAR (35%)
- Ethereum:
- Every month, if there are not enough MIMO in the treasury to get a 80/20 MIMO/wETH share for LP, the DAO will buyback MIMO tokens at the market via TWAP in order to get the 80/20 ratio
- Every month, deposit and stake ETH with MIMO from the treasury in the MIMO/wETH 80/20 on Aura
- Every month, deposit and stake acquired paUSD in the paUSD/GYD E-CLP on Aura
- Every month, deposit and stake acquired PAR in the EURA/PAR E-CLP on Aura
- Every month, claim BAL and AURA tokens from Aura
- Every month, swap claimed BAL for AURA
- Every month, lock AURA tokens and relock current vlAURA
- Every 4 months, claim APW from sdAPW staking → Deposit and stake them for sdAPW
- Polygon PoS:
- Every month, if there are not enough MIMO in the treasury to get a 80/20 MIMO/wETH share for LP, the DAO will buyback MIMO tokens at the market via TWAP in order to get the 80/20 ratio
- Every month, deposit and stake ETH with MIMO from the treasury in the MIMO/wETH 80/20 on Aura
- Every month, deposit and stake acquired paUSD in the stataUSDCn/paUSD E-CLP on Aura
- Every month, deposit and stake acquired PAR in the EURe/PAR E-CLP on Aura (and/or EUROe/PAR E-CLP)
- Every month, claim BAL and AURA tokens from Aura
- Every month, swap claimed BAL for AURA
- Every month, bridge AURA tokens to Ethereum
- Proposed Updated Strategy:
- Positions Updates:
- Ethereum:
- Claim SAFE Tokens
- Sell SAFE Tokens for wETH
- Migrate all MIMO to PRL
- Polygon PoS:
- Withdraw MIMO and wETH from the Arrakis MIMO/wETH pool
- Withdraw MIMO and wETH from the Balancer MIMO/wETH 80/20 pool
- Withdraw PAR and EURe from the PAR/EURe E-CLP pool
- Sell EURe for PAR
- Bridge PAR to Ethereum
- Bridge MIMO to Ethereum
- Base:
- Use $50k worth of PAR/paUSD/USDp/USDC to acquire SPECTRA tokens and stake them as sdPECTRA
- Ethereum:
- Management:
- General:
- Every month, swap net accumulated (after service providers payment, etc…) paUSD, PAR & USDp to get a 30/70 split in $ equivalent in wETH (30%) and USDp
- Every month, deposit and stake wETH with PRL from the treasury in PRL/wETH pools. chains, protocols and pools will be determined by the DAO multisigs with the advisory of Cooper Labs & Mimo Labs. This in order to bring greater flexibility in terms of management.
- Every month, if there are not enough PRL in the treasury to get correct PRL/wETH ratio for LP, the DAO will buyback PRL tokens at the market via TWAP in order to get the right ratio to deposit in liquidity pools
- Every month, deposit and stake USDp from the treasury in USDp/XYZ pools. Chains, protocols and pools will be determined by DAO multisig signers with advice from Cooper Labs & Mimo Labs. However pools must be non-IL, which means that USDp tokens can only be deposited in pools with another USD stablecoin. This in order to bring greater flexibility in terms of management.
- Every 4 months, claim SPECTRA from sdSPECTRA staking → Deposit and stake them for sdSPECTRA
- If there are funds deposited & staked on Aura:
- Every month, claim BAL and AURA tokens from Aura
- Every month, swap claimed BAL for AURA
- Every month, lock AURA tokens and relock current vlAURA
- If there are funds deposited & staked on Beets:
- Every month, claim BEETS tokens from Beets
- Every month,stake BEETS as maBEETS
- If there are funds deposited & staked on Shadow:
- Every month, claim SHADOW tokens from Shadow
- Every month, lock xSHADOW
- If there are funds deposited in another protocol not listed above we propose to let DAO Multisig signers manage what to do with rewards, with advice from Cooper Labs & Mimo Labs. This in order to bring greater flexibility in terms of management.
- General:
We propose to give voting power from vlAURA, sdSPECTRA, xSHADOW, maBEETS & potential additional governance tokens to Mimo Labs. We also propose to keep at least 5,000,000 liquid PRL in the DAO treasury .
Note: The approval of this proposal is conditioned to the approval of the PIP-50 l Parallel V3 Introduction proposal & PIP-51 l Launch USDp, the new Parallel USD Stablecoin
Means:
- Human Resources: Multisigners will need to sign and execute transactions to execute the proposal.
- Treasury Resources: Described in the rationale.
Technical implementation:
- Described in the rationale.
Voting options:
- For the DAO Treasury Strategy Update
- Against / Rework the Proposal
- Abstain
Author(s): Jean Brasse from Mimo Labs
Community poll:
- For the DAO Treasury Strategy Update
- Against / Rework the Proposal
- Abstain
0
voters