This is a follow up to Diversify ~$20k Community Treasury USDC into $BAL/veBAL outlining the next steps on how to execute it.
The Treasury now has $25k available to acquire voting power to support the protocols liquidity pool(s) on Balancer. These funds are on Polygon in our multisig Gnosis Safe (0x59429282A4e566373a1F2D5F20CF08184b46ee07).
Blocker: first and foremost we should wait till the BIP-30 ‘kill Gauge’ vote is executed and see if we can get our Gauge re-included. If there is a Gauge available proceed to 1).
- Propose whitelisting of ‘Community Treasury’ multisig (0x4a30c80A2c41312ce4ee79f730C8D84cAD9f7B31) on Balancer’s governance forum.
— wait for vote (couple of days) —
- As a test bridge $5 USDC to Ethereum mainnet ‘Community Treasury’ multisig (0x4a30c80A2c41312ce4ee79f730C8D84cAD9f7B31) using hop.exchange (~$2.5 in fees)
- Bridge ~$25k USDC to Ethereum mainnet ‘Community Treasury’ multisig (0x4a30c80A2c41312ce4ee79f730C8D84cAD9f7B31) using hop.exchange (~$40 in fees)
- Swap ~$25k USDC to BAL using cowswap.exchange (see CowSwap now supports Gnosis Safe & other Smart Contract Wallets)
- Pool BAL into B-80BAL-20WETH
- Lock pool tokens to get veBAL
- Vote using the ‘Community Treasury’ multisig on THX pool using veBAL voting interface