Payload with PR:
Simulation on Tenderly: https://dashboard.tenderly.co/public/safe/safe-apps/simulator/fe1a6755-4c38-4974-a3fa-ff9488dbe405
Abstract
In BIP-598, we proposed claiming 119,196.47 SAFE tokens, which increased the Balancer DAO Treasury balance to 124,374.16 SAFE (valued at $228k at the time of writing). These SAFE tokens were claimable due to GNO generated through the GnosisDAO <> Balancer DAO token swap agreement. The GNO was subsequently locked into the LGNO locking contract, following a suggestion made by Karpatkey at that time.
Similarly, for the current proposal we suggest locking the SAFE balance in the Balancer DAO multisig into a reward booster created by SAFE.
This is a locking mechanism built by Safe {pass} that will earn more points the sooner the SAFE is locked, and the longer it’s locked for. With a declining multiplier, season 1 of this reward mechanism ends September 30th.
Rewards based on the point structure is yet to be defined by the Safe team, but could consist of:
- Sponsored transactions: ability to send a limited amount of free transactions.
- SAFE tokens: earn yield on locked SAFE.
For the current balance of SAFE in the Balancer DAO multisig, the rewards multiplier is at 1.90x.
Regarding potential risks, we don’t foresee a greater impact in locking the tokens compared to holding SAFE idle in the DAO multisig.
Specification
The DAO Multisig on Ethereum Mainnet 0x10A19e7eE7d7F8a52822f6817de8ea18204F2e4f will execute the payload provided in the PR. This payload contains two transactions:
- Approval of the locking contract to interact with the DAO’s SAFE balance.
- Write the
Lockfunction with124374160017847396583275for theamountargument.