PGP-30 l Update DAO Treasury Strategy

Summary: This proposal aims to update the DAO Treasury Strategy following recent protocol updates.

Rationale: In line with the recent protocol updates the DAO treasury strategy needs to be updated to support these updates.

I. Current Treasury Strategy:

• General:
  • Every month, swap net accumulated (after service providers payment, etc…) paUSD and PAR to get a 30/35/35 split in $ equivalent in wETH (30%), paUSD (35%) and PAR (35%)
• Ethereum:
  • Every month, if there are not enough MIMO in the treasury to get a 80/20 MIMO/wETH share for LP, the DAO will buyback MIMO tokens at the market via TWAP in order to get the 80/20 ratio
  • Every month, deposit and stake ETH with MIMO from the treasury in the MIMO/wETH 80/20 on Aura
  • Every month, deposit and stake acquired paUSD in the paUSD/GYD E-CLP on Aura
  • Every month, deposit and stake acquired PAR in the EURA/PAR E-CLP on Aura
  • Every month, claim BAL and AURA tokens from Aura
  • Every month, swap claimed BAL for AURA
  • Every month, lock AURA tokens and relock current vlAURA
  • Every 4 months, claim APW from sdAPW staking → Deposit and stake them for sdAPW
• Polygon PoS:
  • Every month, if there are not enough MIMO in the treasury to get a 80/20 MIMO/wETH share for LP, the DAO will buyback MIMO tokens at the market via TWAP in order to get the 80/20 ratio
  • Every month, deposit and stake ETH with MIMO from the treasury in the MIMO/wETH 80/20 on Aura
  • Every month, deposit and stake acquired paUSD in the stataUSDCn/paUSD E-CLP on Aura
  • Every month, deposit and stake acquired PAR in the EURe/PAR E-CLP on Aura (and/or EUROe/PAR E-CLP)
  • Every month, claim BAL and AURA tokens from Aura
  • Every month, swap claimed BAL for AURA
  • Every month, bridge AURA tokens to Ethereum

II. Proposed Updated Strategy:

• Positions Updates:
  • Ethereum:
    • Claim SAFE Tokens
    • Sell SAFE Tokens for wETH
    • Migrate all MIMO to PRL
  • Polygon PoS:
    • Withdraw MIMO and wETH from the Arrakis MIMO/wETH pool
    • Withdraw MIMO and wETH from the Balancer MIMO/wETH 80/20 pool
    • Withdraw PAR and EURe from the PAR/EURe E-CLP pool
    • Sell EURe for PAR
    • Bridge PAR to Ethereum
    • Bridge MIMO to Ethereum
  • Base:
    • Use $50k worth of PAR/paUSD/USDp/USDC to acquire SPECTRA tokens and stake them as sdPECTRA
• Management:
  • General:
    • Every month, swap net accumulated (after service providers payment, etc…) paUSD, PAR & USDp to get a 30/70 split in $ equivalent in wETH (30%) and USDp
    • Every month, deposit and stake wETH with PRL from the treasury in PRL/wETH pools. chains, protocols and pools will be determined by the DAO multisigs with the advisory of Cooper Labs & Mimo Labs. This in order to bring greater flexibility in terms of management.
    • Every month, if there are not enough PRL in the treasury to get correct PRL/wETH ratio for LP, the DAO will buyback PRL tokens at the market via TWAP in order to get the right ratio to deposit in liquidity pools
    • Every month, deposit and stake USDp from the treasury in USDp/XYZ pools. Chains, protocols and pools will be determined by DAO multisig signers with advice from Cooper Labs & Mimo Labs. However pools must be non-IL, which means that USDp tokens can only be deposited in pools with another USD stablecoin. This in order to bring greater flexibility in terms of management.
    • Every 4 months, claim SPECTRA from sdSPECTRA staking → Deposit and stake them for sdSPECTRA
    • If there are funds deposited & staked on Aura:
      • Every month, claim BAL and AURA tokens from Aura
      • Every month, swap claimed BAL for AURA
      • Every month, lock AURA tokens and relock current vlAURA
    • If there are funds deposited & staked on Beets:
      • Every month, claim BEETS tokens from Beets
      • Every month,stake BEETS as maBEETS
    • If there are funds deposited & staked on Shadow:
      • Every month, claim SHADOW tokens from Shadow
      • Every month, lock xSHADOW
    • If there are funds deposited in another protocol not listed above we propose to let DAO Multisig signers manage what to do with rewards, with advice from Cooper Labs & Mimo Labs. This in order to bring greater flexibility in terms of management.

We propose to give voting power from vlAURA, sdSPECTRA, xSHADOW, maBEETS & potential additional governance tokens to Mimo Labs. We also propose to keep at least 5,000,000 liquid PRL in the DAO treasury .

Note: The approval of this proposal is conditioned to the approval of the PIP-50 l Parallel V3 Introduction proposal & PIP-51 l Launch USDp, the new Parallel USD Stablecoin

Means:

• Human Resources: Multisigners will need to sign and execute transactions to execute the proposal.
• Treasury Resources: Described in the rationale.

Technical implementation: Described in the rationale.

Voting options:

• For the DAO Treasury Strategy Update
• Against / Rework the Proposal
• Abstain

Author(s): Jean Brasse from Mimo Labs