JBP-293 - Reallocate Undeposited Multisig ETH

Author: filipv
Date: 2022-11-17

Thesis

Reallocate 1,205.31527829 ETH in the multisig to the v3 treasury.

Motivation

JBP-284 allocated 1,205.31527829 multisig ETH to the v1 treasury. JuiceboxDAO is committed to a progressive migration to v3, for both the DAO and the protocol. Adding this ETH to the v1 treasury would be counterproductive towards this goal.

Specification

Instead of adding 1,205.31527829 ETH to the v1 treasury’s balance, the multisig shall add that ETH to the DAO’s v3 treasury balance.

Rationale

Not only will this support progressive migration to the v3 treasury—it will add funds to the v3 treasury with which to manage future payouts.

Risks

• This change will make it more difficult to enable v3 redemptions in a timely manner. These funds will not be available for v1 redemption.
• The v1 contracts have held large amounts of ETH without any exploits or hacks. The v3 contracts might contain an exploit we are not yet aware of.

Timeline

To be executed within 30 days of this proposal’s Snapshot ratification.

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