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mStablemStableby0x908DB31Ce01DC42c8B712f9156E969bc65023119mzeronine.eth

TDP25 - Olympus Pro Treasury Diversification

Voting ended over 4 years agoSucceeded

After this successful internal motion, and in line with this forum post, the TreasuryDAO proposes to diversify its treasury by leveraging the Olympus Pro platform in order to sell 1,000,000 MTA worth of bonds for Curve mUSD/3pool LP tokens deposited on Convex Finance (cvxmusd3CRV).

These would subsequently be staked on Convex Finance, and accrued CRV rewards converted into cvxCRV, whereas CVX would be directly staked on Convex Finance in order to be used to vote for the mUSD gauge on Curve in perpetuity.

As an additional change to MDP24, all accrued CVX and CRV rewards from the existing alUSD position would also be handled in the same fashion as described above in order to maximize gauge voting potential on Curve moving forward.

All liquidity rewards will be claimed, compounded, and locked on a regular basis at the discretion of the Asset Management subDAO, which will consider and weigh operational costs against accumulated rewards in the contract to make an informed and economically sound decision on the correct timing of these operations.

Since a Gnosis Safe cannot directly participate in Snapshot votes, the resulting voting power from the above deployment would thus be delegated to the Cat Herder of the Asset Management subDAO in order to participate in the gauge votes, and would take a passive stance on all other proposals on the platform.

Successful passing of this proposal will allow the Asset Management subDAO to continue with this operation until the incentivization on Convex Finance ends, or a different proposal replaces it.

Should the TreasuryDAO allocate 1,000,000 MTA to issue bonds on Olympus Pro as outlined above?

Off-Chain Vote

For
4.81M 95.3%
Against
0 0%
Different Strategy or Amount
236.43K 4.7%
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Timeline

Oct 25, 2021Proposal created
Oct 25, 2021Proposal vote started
Oct 29, 2021Proposal vote ended
Oct 26, 2023Proposal updated