Vote Type
Token holder DAO Snapshot with a 7-day vote period.
DAO-elected Sponsors
Sap, East, Will
Timeline
7 days for comment / discussion on this proposal.
Token holder DAO Snapshot with a 7-day vote period.
Purpose
This proposal is a request to the Threshold DAO to approve the transfer of Council-held Protocol Owned Liquidity (POL) to the Treasury Guild Committee’sMultisig.
Motivation
The DAO’s Protocol Owned Liquidity has continued to grow, thanks to the TTG’s various diversification efforts, including the continued success of TIP 46 and TIP 47, as well as revenues from incentives directed at existing POL allocations.
In addition, the recently ratified TIP 55 has increased the capacity of the DAO to manage and optimise POL, with the creation of a specific POL Operations role.
Given the importance of POL to the continued growth of the DAO Treasury, this proposal suggests transferring certain strategic POL to the Threshold Treasury Guild Mutisig.
The TTG members are better equipped to validate and queue the transactions required for POL allocation and maintenance, which reduces the risk of error and increases POL security. Most POL recommendations come from TTG and are executed by Council, which creates inefficiency due to signer fatigue and information transfer requirements.
Assets currently held by the Threshold Council can be viewed here: https://debank.com/profile/0x9f6e831c8f8939dc0c830c6e492e7cef4f9c2f5f
Assets currently held by the Treasury Guild can be found here: https://debank.com/profile/0x71E47a4429d35827e0312AA13162197C23287546.
Treasury Guild multi-sigs have a required signing majority of five-of-nine signers. Every six months, half of its members are elected by the DAO, and hold a year long tenure.
Recommendation
It is the recommendation of the Treasury Guild to transfer the following assets to the Treasury Guild Multisig:
- 122,226 CRV
- 15,570 CVX (Unlocked)
- 87,191 CVX (Locked)
- 2,288 BAL
- 16,407 cvxCRV
- 7,769 AURA
- 0.1044 tBTC
- 162 cvxFXS
- Current 3BTC Curve LP tokens staked in Convex to the value of:
- 3.307 tBTC
- 0.855 WBTC
- 0.91 sBTC
The total asset transfer will have an approximate value of $548,000 USD.
Current T/ETH liquidity, T, ETH, and DAI will remain in custody of the Council:
- 89,956,481 T
- 2.03 ETH
- 2,417 DAI
- Current T/ETH Curve LP tokens staked in Convex to the value of:
- 213.36 ETH
- 19,533,819 T
- Current T/ETH Curve LP tokens staked in Aura to the value of:
- 77.78 ETH
- 27,736,852 T