[BIP-607] Update FTM Multisig to Claim vested BEETS

Payload with PR


Originally when BeethovenX was approved as a friendly fork 10 million BEETS was set aside for the DAO to unlock via a vest. This can be seen here in the original vote. Snapshot to receive 4% of the total supply, 250M tokens, which can be confirmed in BEETS tokenomics. The purpose of this proposal is to update the fantom wallet responsible for this vesting contract with the maxis as signers. The maxis will then claim the fully vested balance of BEETS, and transfer it to an ftm Maxi Multisig. For the time being this will consolidate the multisigs utilized by the DAO as fantom is a relatively inactive network. There is no plan to utilize the BEETS tokens in any way for the time being, but an additional proposal can be made to do so at a later time.

The current DAO Multisig on Fantom will not be utilized after these actions unless absolutely necessary after this proposal. The likelihood of it’s use is incredibly low due to the networks activity, and Balancer’s influence in the Fantom ecosystem.


The DAO Multisig ftm: 0xFe2022da08d17ac8388F5bEFE4F71456255105A4 will call addOwnerWithThreshold on itself six times, with the threshold equal to 6 and the following new owner addresses:


These can be confirmed via bal_addresses

The DAO Multisig ftm: 0xFe2022da08d17ac8388F5bEFE4F71456255105A4 will then interact with the vesting contract 0x8D381EC09356C3F1805c54B2BB0867e8b417DC3a calling release with the BEETS token address 0xF24Bcf4d1e507740041C9cFd2DddB29585aDCe1e as the token argument.

Once the BEETS is received it will sent to the Maxi Multisig until further notice by calling transfer on ftm:0xF24Bcf4d1e507740041C9cFd2DddB29585aDCe1e with the recipient as 0x9ff471F9f98F42E5151C7855fD1b5aa906b1AF7e and amount 10000000000000000000000000


As stated here, the main goal of this proposal is to move the vesting BEETs funds out of a stale Gnosis safe on FTM and bridge those funds to OP as this is a chain Balancer DAO operates on. Any further actions on how to manage those funds will be put forward by a separate proposal if the DAO intends to do so.


Please wait 1 week to post this BIP, some conversation is going on about if it makes sense to bridge the Beets, or to just setup another safe to store it on Fantom.


EDIT: reverted posting to snapshot as there was still no full consensus from Maxis on how to migrate the funds on FTM.


Minor correction to the Overview section on snapshot, no tokens will be bridged to Optimism. As the specification and payload state; to clarify tokens will only be transferred to the Maxi Multisig on FTM.