[BIP-533] Initiate Cooldown to Withdraw from BAL/AURA/ARB Pool on Arbitrum

Governance
1

PR with Payload

Overview

Originally proposed and executed upon here, Balancer DAO had deposited 2M ARB along with BAL provide by the treasury, and AURA provided by Aura Finance. There was a special contract made that these LP tokens are held in that requires a 60 day cooldown period before the funds can be withdrawn. The funds are held in this contract

This pool has since incurred a significant amount of IL, and I believe it to be prudent to withdraw from this pool in order to hold onto that ARB and use it at a later date. There are discussions about leaving 25% in the pool to support bal/aura liquidity on arbitrum, but specifics will come at a later date so we can get the ball rolling to make sure we can withdraw as soon as possible.

Specifications:

The DAO multisig 0xaF23DC5983230E9eEAf93280e312e57539D098D0 will call startCooldown() on the contract at 0x8d803f7f7e26e586ee90e5a872cf7830e21f7727. Further actions will come at a later date in a separate proposal.

2

I am in support of initiating the cooldown so the DAO can act accordingly on what steps shall be taken next. Thanks for putting this proposal together!

3

I modified the initial proposal text to point to the correct escrow contract at 0x8d803f7f7e26e586ee90e5a872cf7830e21f7727 where the startCooldown function can be called. The specs can be inferred from this proposal and the contract itself here: AuraArbBalGrant | Address 0x8d803f7f7e26e586ee90e5a872cf7830e21f7727 | Arbiscan

4

https://snapshot.org/#/balancer.eth/proposal/0x0de4d7dd3b6df7d4e5fe9a32ed6a7d66be839dacbdccf033aee7bdc4d015aa52