Delegate Balancer Liquidity to the Treasury Department

Governance Proposals
1

Title: Delegate Balancer Liquidity to the Treasury Department
Authors: Gruad, Icedcool
Squad: Treasury Department
Date Created: 9/12/23
Date Posted: 11/1/23
TD Multisig: LINK

TLDR:

  • The DAOs liquidity is primarly on Uniswap, with some liquidity positions on Balancer.
    • The Treasury Department has identified opportunities to more efficiently allocate this capital to benefit BANK holders and the DAO.
  • This proposal requests the delegation Balancer liquidity to the Treasury Department for dynamic liquidity management.
    • This enables a more efficient market infrastructure, without being overly bogged down by governance processes.
  • The Treasury Department will be required to surface updates based on any changes they make to BANK market infrastructure.

SUMMARY

BanklessDAO has around ~$37K in liquidity held by the multisig in Balancer that provides market infrastructure for BanklessDAO. This liquidity is important to support the BANK token, and the DAO through market action.

The Treasury department would like the DAO to delegate management of this liquidity to the Treasury Department to support more sophisticated market making and infrastructure for the token and the DAO.

This will be a source of revenue for the DAO, and the Department will generate seasonal updates on the performance on it.

SCOPE OF AUTHORITY AND WORK

This proposal would grant the Treasury Department the authority to manage the liquidity for the DAO and implement it in a more efficient manner.

Quarterly, the department will surface reports on updates on how the liquidity management is being handled, new strategies, and performance.

If at any time the DAO holds the Treasury Department in negligence, the DAO can hold a vote of no confidence for the Treasury Department, to request the funds back and/or require the current multisig holders to step down.

Current Treasury Multisig Holders (⅗):
Gruad, Kouros, Nikhil, Baer, Icedcool

SPECIFICATION

  1. Transfer Balancer Liquidity to Treasury Department multisig
  2. Treasury Department will deploy liquidity
    1. In ranged positions
  3. The Treasury Department will submit reports to the DAO seasonally showing performance.

FINANCIAL IMPLICATIONS

The only financial implications are that the department will be a steward of these funds.

NEXT STEPS

  1. Discord vote - :white_check_mark:
  2. Forum vote
  3. Snapshot

POLL

  • Approve
  • Abstain
  • Reject
0 voters
1 Like