[BIP-464] Remove BAL from Deprecated Ribbon Vault

Payload with PR:


BIP-24 and BIP-227 permitted the DAO to initially deposit BAL into a Ribbon Finance vault, and then upsize the position. Recently, Ribbon has since decided to deprecate this covered call strategy vault, and it no longer will be a place for the DAO to earn passive income. The proposal is meant to enable the DAO to claim back the deposited funds to hold in the treasury.


As stated in the Summary, because this position will no longer be supported by Ribbon, the DAO should claim back these funds. Funds can be put to work elsewhere, but there is no sense in leaving them idle with nothing to be gained in the deprecated vault.


The DAO Multisig 0x10A19e7eE7d7F8a52822f6817de8ea18204F2e4f will interact with the Ribbon Vault at 0x2a6B048eB15C7d4ddCa27db4f9A454196898A0Fe by writing initiateWithdraw passing numShares as 200000000000000000000000. This will take until the expiration of the next Ribbon round to register, at which time the BAL will be released for direct claim.

Upon release, the DAO Multisig will interact with the same Ribbon vault as noted above and write the completeWithdraw

The full payload cannot simulate due to the time dependence of the prior step.
initiateWithdraw simulation
Full transaction simulation with revert.


Cheers for writing this up. There is no reason not to get our BAL back. The strategy is no longer operating. There is a chance the strategy comes back under the Aero brand in the future.

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