# \[BIP-621\] Lock SAFE balance

**URL:** <https://forum.balancer.fi/t/bip-621-lock-safe-balance/5788>\
**Category:** Karpatkey Updates\
**Created:** [June 7, 2024, 12:16pm UTC](https://forum.balancer.fi/t/bip-621-lock-safe-balance/5788 "2024-06-07T12:16:21Z")\
**Posts on this page:** 3\
**Page:** 1

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**Author:** ![kpk](https://yyz1.discourse-cdn.com/flex027/user_avatar/forum.balancer.fi/kpk/32/3793_2.png) [@kpk](https://forum.balancer.fi/u/kpk)\
**Post date:** [June 7, 2024, 12:16pm UTC](https://forum.balancer.fi/t/bip-621-lock-safe-balance/5788/1 "2024-06-07T12:16:21Z")

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# Payload with PR:

> <https://github.com/BalancerMaxis/multisig-ops/pull/1026>
>
> 2 bundled txns:
> 1) Approve spender: 0x0a7CB434f96f65972D46A5c1A64a9654dC9959b2
> …
> 2) Lock SAFE balance into spender contract.

Simulation on Tenderly: [https://dashboard.tenderly.co/public/safe/safe-apps/simulator/fe1a6755-4c38-4974-a3fa-ff9488dbe405](https://dashboard.tenderly.co/public/safe/safe-apps/simulator/fe1a6755-4c38-4974-a3fa-ff9488dbe405)

# Abstract

In [BIP-598](https://forum.balancer.fi/t/bip-598-claim-extra-safe-airdrop/5723/1), 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](https://snapshot.org/#/balancer.eth/proposal/0x8d4969e56fa8eb13abc7a3404b3d42fe6b4afa1c7f29111bd012314f093a2fd2). 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](https://etherscan.io/address/0x10A19e7eE7d7F8a52822f6817de8ea18204F2e4f) into a reward booster created by SAFE.

This is a locking mechanism built by [Safe {pass}](https://safe.global/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.

 ![lock-chart](https://canada1.discourse-cdn.com/flex027/uploads/balancer/original/2X/d/dc469e4b7ec992737b9eb80eb5618103c62c9e06.png)

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](https://app.safe.global/apps/open?safe=eth:0x10A19e7eE7d7F8a52822f6817de8ea18204F2e4f&appUrl=https%3A%2F%2Fcommunity.safe.global).

 ![timelock](https://canada1.discourse-cdn.com/flex027/uploads/balancer/original/2X/0/06511c87f4bc3b27c832b398ac1fc7350491f7c4.png)

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](https://etherscan.io/address/0x0a7CB434f96f65972D46A5c1A64a9654dC9959b2) to interact with the DAO’s SAFE balance.
- Write the `Lock` function with `124374160017847396583275` for the `amount` argument.

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**Author:** ![LuukDAO](https://yyz1.discourse-cdn.com/flex027/user_avatar/forum.balancer.fi/luukdao/32/3247_2.png) [@LuukDAO](https://forum.balancer.fi/u/LuukDAO)\
**Post date:** [June 7, 2024, 2:47pm UTC](https://forum.balancer.fi/t/bip-621-lock-safe-balance/5788/2 "2024-06-07T14:47:33Z")

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Props to Karpatkey for getting maximum value out of the GNO held by Balancer DAO and in full support of locking the SAFE to increase rewards.

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**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:** [June 13, 2024, 5:38am UTC](https://forum.balancer.fi/t/bip-621-lock-safe-balance/5788/3 "2024-06-13T05:38:18Z")

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[https://snapshot.org/#/balancer.eth/proposal/0x0c0c423cddcca818243aaeb202aac341de5cba764e4f01580c9ab963a13a9f92](https://snapshot.org/#/balancer.eth/proposal/0x0c0c423cddcca818243aaeb202aac341de5cba764e4f01580c9ab963a13a9f92)