STP-1 | Swap part of the auraBAL LP for vlAURA

Summary: The purpose of this proposal is to swap part of our 80/20BAL-WETH+auraBAL LP for vlAURA with the aim of increasing the overall treasury APR.

Context: Currently, the DAO treasury has $780,86k worth of 80/20BAL-WETH+auraBAL LP on Aura with an average APR of 25% (paid in 19% $AURA and 6% $BAL).

By swapping part of this LP for $AURA, which we will then lock, it will be possible to obtain an APR of around 40-50% (paid in $USDC) instead of 25% with the current LP, which will increase the overall APR of the treasury. To do this, locked AURA (vlAURA) has to be delegated to Paladin's auto-voter, which offers the best current yield on the market, as you can see in the picture below.

That’s why the Spiral Contributor team is proposing to swap $200k worth of 80/20BAL-WETH+auraBAL LP for $AURA

Please note that, unlike LPs, vlAURAs are not liquid, i.e. they are locked for a period of exactly 16 weeks and 2 days before they can be "unlocked" or relocked.

Just as a reminder, it’s possible to consult the DAO treasury through 3 links: dApp dashboard: https://spiral.farm/dashboard Debank: https://debank.com/profile/0xc47ec74a753acb09e4679979afc428cde0209639 Dune Dashboard: https://dune.com/beg1/spiral-dao

Means:

• Human resources: the Multisig team will need to do several transactions explained above in the Technical implementation.
• Treasury resources: there is no direct cost to the Treasury other than potential slippage and price impact by withdrawing LP and swapping them for $AURA.

Technical implementation: The Multisig team will need to :

1. withdraw $200k worth of 80/20BAL-WETH+auraBAL LP
2. swap 80/20BAL-WETH-auraBAL LP for $AURA.
3. lock $AURA for vlAURA
4. delegate vlAURA to “Paladin-voter.eth”
5. Claim $USDC rewards every two weeks