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Stake DAO BALStake DAO BALby0x40938d09b4A2a40b6538F7a8F77fC1971F8cEF540x4093…EF54

[BIP-607] Update FTM Multisig to Claim vested BEETS

Voting ended almost 2 years agoFailed

Payload with PR https://github.com/BalancerMaxis/multisig-ops/pull/916

Overview

Originally when BeethovenX was approved as a friendly fork 10 million BEETS was set aside for the DAO to unlock via a vest. This can be seen here in the original vote. https://vote.balancer.fi/#/proposal/0x95db8e797145ad590b467f8dbecb23404c25c2a7090aa8a8d65428ad9f7373fc to receive 4% of the total supply, 250M tokens, which can be confirmed in BEETS tokenomics. The purpose of this proposal is to update the fantom wallet responsible for this vesting contract with the maxis as signers. The maxis will then claim the fully vested balance of BEETS, and transfer it to the DAO Multisig on Optimism. This is to make the bridging process streamlined. For the time being this will consolidate the multisigs utilized by the DAO as fantom is a relatively inactive network. There is no plan to utilize the BEETS tokens in any way for the time being, but an additional proposal can be made to do so at a later time.

The current DAO Multisig on Fantom will not be utilized after these actions unless absolutely necessary after this proposal. The likelihood of it's use is incredibly low due to the networks activity, and Balancer's influence in the Fantom ecosystem.

Specifications

The DAO Multisig ftm: 0xFe2022da08d17ac8388F5bEFE4F71456255105A4 will call addOwnerWithThreshold on itself six times, with the threshold equal to 6 and the following new owner addresses:

0x7c2eA10D3e5922ba3bBBafa39Dc0677353D2AF17 0xafFC70b81D54F229A5F50ec07e2c76D2AAAD07Ae 0xc4591c41e01a7a654B5427f39Bbd1dEe5bD45D1D 0x7019Be4E4eB74cA5F61224FeAf687d2b43998516 0x11761c7b08287d9489CD84C04DF6852F5C07107b 0xcf4fF1e03830D692F52EB094c52A5A6A2181Ab3F

These can be confirmed via bal_addresses

The DAO Multisig ftm: 0xFe2022da08d17ac8388F5bEFE4F71456255105A4 will then interact with the vesting contract 0x8D381EC09356C3F1805c54B2BB0867e8b417DC3a calling release with the BEETS token address 0xF24Bcf4d1e507740041C9cFd2DddB29585aDCe1e as the token argument.

Once the BEETS is received it will sent to the Maxi Multisig until further notice by calling transfer on ftm:0xF24Bcf4d1e507740041C9cFd2DddB29585aDCe1e with the recipient as 0x9ff471F9f98F42E5151C7855fD1b5aa906b1AF7e and amount 10000000000000000000000000

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

May 15, 2024Proposal created
May 16, 2024Proposal vote started
May 18, 2024Proposal vote ended
May 18, 2024Proposal updated