PR with Payload
Summary
In this proposal, we aim to formalize the launch requirements for CoWAMM’s for Balancer. This includes the following:
- Transfer $250k in BAL for discretionary incentives
- Transfer $250k in BAL + $250k in WETH to seed the BAL/WETH CoWAMM pool for a total of $500k
- Transfer $125k in USDC and $125k in WETH to seed Balancer DAO’s portion of the USDC/WETH pool for a total of $250k
For a total of
$500k in BAL, $125k USDC, and $375k in WETH
Motivation
This proposal serves to formalise the execution of the approved obligations outlined in BIP-628 as at the time of BIP-628’s writing, the smart contracts had yet to be finalized. The execution only includes the provisioning of POL and not any token swap agreements so far.
Execution Specification
For the sake of simplicity and not having to specify join parameters (which can vary depending on asset pricing), the entirety of these funds will be sent to the LM multisig at 0xc38c5f97B34E175FFd35407fc91a937300E33860
Price of BAL: $2.34
Price of WETH: $3171
Amount ($) | BAL | USDC | WETH | |
---|---|---|---|---|
BAL Incentives | $250,000.00 | 106837.61 | 0.00 | 0.00 |
USDC/WETH Pool | $250,000.00 | 0.00 | 125000.00 | 39.42 |
BAL/WETH Pool | $500,000.00 | 106837.61 | 0.00 | 78.84 |
This comes to a total of
125,000 USDC
213675.21 BAL
118.26 WETH
After which, the appropriate funds will be added to the corresponding CoWAMM pool after which the LP tokens will be transferred back to the DAO multisig.
This proposal will fulfill all our obligations outlined by BIP-628.
Technical Specification
The DAO multisig 0x10A19e7eE7d7F8a52822f6817de8ea18204F2e4f
will interact with USDC at 0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48
by writing transfer, passing 0xc38c5f97B34E175FFd35407fc91a937300E33860
as recipient and the amount 125000 as 125000000000
.
The DAO multisig 0x10A19e7eE7d7F8a52822f6817de8ea18204F2e4f
will interact with BAL at 0xba100000625a3754423978a60c9317c58a424e3D
by writing transfer, passing 0xc38c5f97B34E175FFd35407fc91a937300E33860
as recipient and the amount 213675.21 as 213675210000000000000000.
Finally, the DAO multisig 0x10A19e7eE7d7F8a52822f6817de8ea18204F2e4f
will interact with WETH at 0xC02aaA39b223FE8D0A0e5C4F27eAD9083C756Cc2
by writing transfer, passing 0xc38c5f97B34E175FFd35407fc91a937300E33860
as dst and the amount 118.26 as 181260000000000000000 at wad.