Payload with PR
title: [BIP-611] Delegate BalancerDAO ARB to karpatkey
author: karpatkey
created: 2024-05-15
Summary
This proposal aims to delegate the 2M ARB voting power held in the Balancer DAO treasury to karpatkey’s delegation multisig. This voting power will be actively used by karpatkey in the Arbitrum governance process.
Abstract
Since the passing of [BIP-103], karpatkey has been serving as the treasury manager for Balancer DAO, a role that involves active governance interaction. In this capacity, karpatkey has engaged in governance across various protocols and chains. The Balancer DAO has recognised our expertise and commitment, selecting us through the BIP-452 to be your delegate on Aave. Since December 2023, karpatkey has also been an active delegate in the Arbitrum DAO, contributing to the launch of their Arbitrum delegation platform.
As delegates in Arbitrum, we have provided research to the Treasury and Sustainability working group. This research presented insights into how the Arbitrum DAO could address treasury management challenges, including recommended practices, tools, or service providers the DAO should adopt.
Additionally, karpatkey serves as one of six members on the screening committee for the Stable Treasury Endowment Program (STEP). This committee will oversee the review and screening of Real World Asset (RWA) service providers that are applying to STEP. This program will support the RWA ecosystem on Arbitrum by diversifying 35 million ARB from their treasury.
Motivation
This proposal aims to establish an ARB delegation, empowering karpatkey to provide enhanced support for initiatives that align the Balancer and Arbitrum ecosystems.
karpatkey, as the treasury manager for the Balancer DAO and an active delegate in Arbitrum, is not just a passive participant. With this positioning and awareness, the karpatkey team will actively and effectively represent the Balancer DAO’s delegation.
karpatkey’s active participation and awareness as a delegate are evident in its past initiatives. For instance, we led a proposal on behalf of the Arbitrum community on Aave, which successfully removed ARB from isolation mode. This initiative was mutually beneficial for both Aave and Arbitrum, showcasing the potential for future initiatives led by karpatkey. The same can be said of the proposal led by karpatkey to deepen the synergies between Aave and the Balancer Ecosystem, which helped to make Balancer an important source of GHO’s liquidity.
By delegating this voting power, karpatkey can utilise it to vote in alignment with Balancer’s interests on topics such as:
- Incentive programs;
- Arbitrum’s ARB on-chain liquidity enhancement; and
- Arbitrum’s treasury diversification strategies.
Specification
The Balancer treasury vault managed by karpatkey 0xaf23dc5983230e9eeaf93280e312e57539d098d0 on Arbitrum One will interact with the ARB 0x912CE59144191C1204E64559FE8253a0e49E6548 token contract by calling the delegate function, passing the karpatkey governance multisig 0x583E3EDc26E1B8620341bce90547197bfE2c1ddD as the delegatee.
These actions will delegate the ARB voting power in the Balancer’s Treasury wallet on Arbitrum One to karpatkey’s governance multi-sig.
Interacted Addresses
| Address | Description |
|---|---|
| 0x912CE59144191C1204E64559FE8253a0e49E6548 | ARB Token |
| 0xaf23dc5983230e9eeaf93280e312e57539d098d0 | Balancer Treasury (Delegator) |
| 0x583E3EDc26E1B8620341bce90547197bfE2c1ddD | karpatkey multisig (Delegatee) |
Disclosure
We have disclosed that karpatkey is the active treasury manager for Balancer DAO.
Copyright
Copyright and related rights waived via CC0.