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FloorDAOFloorDAOby0x0E72ef091b087e4547B58bC47795E2655701A7b80x0E72…A7b8

FIP#52 - Stake idle ETH into stETH

Voting ended over 2 years agoSucceeded

This proposal calls to stake the idle ETH in Floor DAOs treasury to earn additional yield for the DAO along with providing boosted sweeping power for each Gauge War. This should be done by swapping the ETH and WETH into Lido stETH which is an extremely liquid, safe, lindy LSD post the Shanghai upgrade.

Currently, the treasury has 641.7358 ETH that has been idle for the past few months. Staking it will generate 25.6 additional ETH per year, which translates to roughly 1 additional ETH per gauge - a 14% boost in sweep power to the status quo.

The treasury manager retains ability to unstake stETH as seen fit. It does not seem like there is any strong reason to leave any ETH unstaked given the liquidity of stETH; however, if there is need the treasury manager can simply swap a chunk to raw ETH as needed.

Off-Chain Vote

Stake idle ETH
36.42K gFLOOR89%
Amend
4.49K gFLOOR11%
Quorum:164%
Download mobile app to vote

Discussion

FloorDAOFIP#52 - Stake idle ETH into stETH

Timeline

Jul 15, 2023Proposal created
Jul 15, 2023Proposal vote started
Jul 19, 2023Proposal vote ended
Oct 26, 2023Proposal updated