Proposal

This is the formal snapshot vote for this proposal, which can be found more in detail here:

https://forum.stakewise.io/t/utilize-reth2-in-dao-treasury-to-generate-yield-swip/636.

Note, the original proposal calls for creating a Liquidity Pool as well. We will be doing a snapshot vote to first initiate the rETH2 for sETH2 swap and then later we can vote on creating a pool as well.

It's a bit hard to write a specification for it as the transactions have slippage settings and in case the price between rETH2/sETH2 will change, the transactions will become invalid. Currently, there is 181 rETH2 in the multi-sig and 130 rETH2 in the DAO treasury.

The idea is to swap the ~180 rETH2 (leaving an ETH for gas fees) that is in the multi-sig wallet into sETH2 and then transfer the ~180 sETH2 into the DAO treasury wallet. This will help us move away from using the multi-sig wallet to using the DAO Treasury wallet, since rETH2 now accrues to the DAO Treasury wallet.

Specification

Step 1. The multi-sig will swap the ~180 rETH2 (saving some ETH for gas) to sETH2.

Step 2: The multi-sig will transfer the sETH2 into the DAO treasury.

This will be a manual process due to price slippage risk. Therefore no transaction ids needed.

Snapshot Vote

The vote will last 7 days.