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Stake DAOStake DAOby0xD8de4C018fADB5a0CCcACB3eBd6A3Fe916f224f60xD8de…24f6

SDGP-24 SDT <> RSR Token Loan with Reserve Protocol Core Team

Voting ended about 2 years agoSucceeded

Proposal has been discussed extensively in the forum: https://gov.stakedao.org/t/sdgp-24-sdt-rsr-token-loan-with-reserve-protocol-core-team/850

tl;dr If this proposal is accepted:

  • Reserve and Stake DAO will lend each other SDT and RSR to help each with their respective sdCRV and USDC+ positions: $500k worth of SDT (capped at 1.5m) and $400k worth of RSR
  • SDT lent will be locked for 4 years
  • Stake DAO will deploy a new triSDT pool with rTOKENs (USDC+ and ETH+)
  • Reserve will seed the liquidity of this new pool (meaning the acquisition of SDT, already $100k worth have been acquired to prepare for this)
  • Reserve will vote with a portion of their veCRV voting power for the pool, as they have been doing for other rTOKEN pools
  • The loan will consist in a joint multisig where neither Reserve nor Stake DAO can perform a transaction without the agreement of the other, and where a third party is appointed in case of dispute

Off-Chain Vote

Yes (support the proposal)
2.45M veSDT98.8%
No (reject the proposal)
0 veSDT0%
Rework the terms
29.4K veSDT1.2%
Download mobile app to vote

Discussion

Stake DAOSDGP-24 SDT <> RSR Token Loan with Reserve Protocol Core Team

Timeline

Dec 15, 2023Proposal created
Dec 15, 2023Proposal vote started
Dec 20, 2023Proposal vote ended
Dec 20, 2023Proposal updated