For reference, here is the passed vote for funding 1inch’s integration of boosted pools. The text in the vote reads “Upon satisfactory integration, 20,000 BAL shall be sent to 1inch Labs ETH address: 0x2DF104682A61241C79eBB3ce3b2C293578bF6A9D” and this was executed by the DAO Multisig. However, the conversation on the forum and other discussions led 1inch to expect payment in stables, specifically 300k bbaUSD.
As you can see from the analytics, 1inch represents a significant source of trading volume for bbaUSD. Given the large decline in BAL price since the original agreement I believe it is important we honor the original understanding and send the 300k bbaUSD as we discussed. I should have followed up with Kia to amend the proposal text - I will take extra care in the future to ensure the text of a proposal reflects any changes agreed upon in the discussion phase.
Let’s ensure our collaboration with 1inch gets off on the right foot and that we can both move forward in good faith as boosted pools take over DeFi.
The treasury currently holds ~4.2M of stables (assuming Rari hack is repaid in full). This would represent ~7% of our stable reserves.
If this vote passes, 1inch will return the 20,000 BAL sent to them in this transaction. Then the DAO Multisig
0x10A19e7eE7d7F8a52822f6817de8ea18204F2e4f will initiate a transaction to send 300k bbaUSD to