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BalancerBalancerby0x512fce9B07Ce64590849115EE6B32fd40eC0f5F3Solarcurve

[BIP-52] Allocate BAL Liquidity to Aave

Voting ended over 3 years agoSucceeded

Motivation

Similar to BIP-3 that is allocating liquidity to Multichain, I think it would be good treasury management to add more liquidity to Aave markets on Ethereum & Polygon.

This liquidity would have an added bonus of earning Aave which could help in diversifying treasury on the long run with very few downside considering the longevity of the deployments of the smart contracts.

Treasury is currently sitting at around 5.4m BAL idle, I think a range to decide here is what make the most sense specific amount would then be supplied to both markets on Ethereum & Polygon.

eg: 75k option win a total of 150k BAL would be deployed on Aave.

Risk

  • Smart contract Risk

Reports from DeFi Safety : https://www.defisafety.com/app/pqrs/18

Specification

If approved, x*2 amount of BAL would be sent from the DAO multisig 0x10A19e7eE7d7F8a52822f6817de8ea18204F2e4f to the LM Multisig 0xc38c5f97B34E175FFd35407fc91a937300E33860 and deposited 50-50 on each Aave market.

For example, if the 100k BAL option wins then 200k BAL will be sent from the DAO Multisig to the LM Multisig and 100k BAL will be deposited on each network (Ethereum and Polygon)

Off-Chain Vote

Allocate 100k BAL
511.2K veBAL85.4%
Allocate 50k BAL
6.42K veBAL1.1%
Allocate 25k BAL
521.05 veBAL0.1%
No, this is not the way
80.24K veBAL13.4%
Quorum:299%
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Discussion

Balancer[BIP-52] Allocate BAL Liquidity to Aave

Timeline

Aug 25, 2022Proposal created
Aug 25, 2022Proposal vote started
Aug 28, 2022Proposal vote ended
Apr 19, 2025Proposal updated