# \[BIP-464\] Remove BAL from Deprecated Ribbon Vault **URL:** \ **Category:** General Proposal\ **Created:** [October 28, 2023, 3:42pm UTC](https://forum.balancer.fi/t/bip-464-remove-bal-from-deprecated-ribbon-vault/5291 "2023-10-28T15:42:02Z")\ **Posts on this page:** 4\ **Page:** 1
**Author:** ![ZenDragon](https://yyz1.discourse-cdn.com/flex027/user_avatar/forum.balancer.fi/zendragon/32/1542_2.png) [@ZenDragon](https://forum.balancer.fi/u/ZenDragon)\ **Post date:** [October 28, 2023, 3:42pm UTC](https://forum.balancer.fi/t/bip-464-remove-bal-from-deprecated-ribbon-vault/5291/1 "2023-10-28T15:42:02Z")
Payload with PR: > > > Transaction to be completed the week after approval initiates the withdraw proce…ss. Then the transaction for 3 weeks later, estimating end of the next round will complete the withdrawal. These cannot be done atomically due to the way the vaults are set up. > > Simulation for initiate:\[initiateWithdraw\](https://dashboard.tenderly.co/public/safe/safe-apps/simulator/78d6bcec-7e99-416d-9602-d97f691f4931) > > Simulation with revert for full txn: > \[Full transaction\](https://dashboard.tenderly.co/public/safe/safe-apps/simulator/e56fec9a-382c-4fc6-be21-2679e0e562c7?trace=0.0.2.0.0.1.0.0.0) #### Summary: [BIP-24](https://forum.balancer.fi/t/bip-24-allocate-bal-to-a-ribbon-finance-vault/3209) and [BIP-227](https://forum.balancer.fi/t/bip-227-upsize-bal-allocation-in-ribbon-finance-treasury-vault/4530) 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. #### Motivation: 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. #### Specification: 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](https://dashboard.tenderly.co/public/safe/safe-apps/simulator/78d6bcec-7e99-416d-9602-d97f691f4931) simulation [Full transaction](https://dashboard.tenderly.co/public/safe/safe-apps/simulator/e56fec9a-382c-4fc6-be21-2679e0e562c7?trace=0.0.2.0.0.1.0.0.0) simulation with revert. ---
**Author:** ![zekraken](https://yyz1.discourse-cdn.com/flex027/user_avatar/forum.balancer.fi/zekraken/32/823_2.png) [@zekraken](https://forum.balancer.fi/u/zekraken)\ **Post date:** [October 30, 2023, 1:14am UTC](https://forum.balancer.fi/t/bip-464-remove-bal-from-deprecated-ribbon-vault/5291/2 "2023-10-30T01:14:30Z")
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. ---
**Author:** ![Xeonus](https://yyz1.discourse-cdn.com/flex027/user_avatar/forum.balancer.fi/xeonus/32/3621_2.png) [@Xeonus](https://forum.balancer.fi/u/Xeonus)\ **Post date:** [November 1, 2023, 7:16pm UTC](https://forum.balancer.fi/t/bip-464-remove-bal-from-deprecated-ribbon-vault/5291/3 "2023-11-01T19:16:50Z")
[https://snapshot.org/#/balancer.eth/proposal/0x362e9e4a7206e1bf216170526dce6ffea34c0b1597f35f97bade24ea9174120d](https://snapshot.org/#/balancer.eth/proposal/0x362e9e4a7206e1bf216170526dce6ffea34c0b1597f35f97bade24ea9174120d) ---
**Author:** ![gosuto](https://yyz1.discourse-cdn.com/flex027/user_avatar/forum.balancer.fi/gosuto/32/2014_2.png) [@gosuto](https://forum.balancer.fi/u/gosuto)\ **Post date:** [December 18, 2023, 6:24pm UTC](https://forum.balancer.fi/t/bip-464-remove-bal-from-deprecated-ribbon-vault/5291/4 "2023-12-18T18:24:10Z")
the keeper of this vault will need to load a new option first, before this one can be withdrawn. see my comments here: [Combined JSON payloads by github-actions[bot] · Pull Request #689 · BalancerMaxis/multisig-ops · GitHub](https://github.com/BalancerMaxis/multisig-ops/pull/689#pullrequestreview-1787479684)