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Stake DAO BALStake DAO BALby0x40938d09b4A2a40b6538F7a8F77fC1971F8cEF540x4093…EF54

[BIP-319] Distribute proceeds from bb-e-usd permissioned arbitrage

Voting ended almost 3 years agoFailed

Payload PR

https://github.com/BalancerMaxis/multisig-ops/pull/221

TL;DR

  • The proceeds from the bb-e-usd arbitrage described in BIP-299 will be airdropped to anyone with a claim worth over $10.
  • The airdrop will be a direct ERC-20 transfer, if your wallet is on the list below, make sure you can still access funds sent there.
  • This BIP will be voted on in 1 weeks time and then promptly executed, at which point no changes will be possible.

Background

Following Governance Approval of BIP-299 the Balancer DAO Multisig executed the following transaction, which recovered a total of 155,590.14 USDC and 162,006.45 DAI. Note that less than the amount projected in the original BIP text was recovered as a number of addresses withdrew between the time the simulation was run for the BIP and the block the arbitrage was run.

A total of 53 wallets are still holding tokens that would give them claims to the proceeds from this arbitrage. 14 of these wallets are due over $10 USD, which is less than the gas costs to withdraw following the emergency withdraw guidelines.

This BIP proposes the direct transfer (airdrop) of USDC and DAI to each wallet that is due over $10.

Details

The details below were pulled from the following analysis: https://colab.research.google.com/drive/1fPoUZeIKRKLTBMZatqjoYmEoWhz8pZKy#scrollTo=34VheLYaVmmU&uniqifier=1

Specification

If this BIP is approved, the csv file included in the Payload PR linked at the top of this document will be loaded into the CSV Airdrop Tool of gnosis-safe on the DAO multisig eth:0x10A19e7eE7d7F8a52822f6817de8ea18204F2e4f and executed. The requested substitutions are reflected in the CSV data that can be verified on the forum and the payload PR.

Off-Chain Vote

Yes, let's do it
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No, this is not the way
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Abstain
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Timeline

Jun 07, 2023Proposal created
Jun 08, 2023Proposal vote started
Jun 10, 2023Proposal vote ended
Oct 26, 2023Proposal updated