PGM-23 : Treasury Management #2 (Formerly PGP-23)

Paladin Governance Management (PGM) PGM - Approved
1

TL-DR: Move strategic assets to a multi-sig dedicated to locked tokens with the same signers

Context:
The DAO is looking to prepare the treasury for the launch of Warlord, by transferring strategic positions and assets to a separate Multisig (0xb95A4779CceDc53010EF0df8Bf8Ed6aEB0E8c2B2) which is already live with Community Signers. It has been created for this purpose and is currently holding our veAPW position.

For more context, here’s a breakdown of Paladin’s current treasury (excluding the POL and the veAPW positions) :

This table also includes pending rewards.

If this proposal is approved; The DAO will transfer 56830 CRV, 71980 sdCRV, 3825 CVX, 1634 BAL, 1101 uAuraBAL (worth 1272 auraBAL) and 3969 AURA to the locked token Multisig.

The PAL treasury, the LPs and the ~32,000$ in various tokens earned with Quest (including 8300$ of PAL), or accumulated as rewards (SDT) and Token swaps (D2D) will remain in the main multisig.

Rationale:
We believe CRV, CVX, BAL and AURA are strategic assets that can help Paladin create a positive feedback loop with its own product. By locking these, we can provide “floor liquidity” to our Quests and earn additional revenue.

If they are to be locked, the Multisig will vote in Quests at its own disposal until Warlord is activated.

Means:
None

Sustainability:
This is a transitory proposal before control over these strategic assets are handed over to Warlord.

Voting Options:
Yes / No / Abstain

  • Yes
  • No
  • Abstain

0 voters

3 Likes
2

Nice to see that the POL strategies are working well and generating good revenues in strategic assets.
Full support :fire:

3 Likes
3

I also give full support, it is nice to see a treasury grow with assets that make sense with Paladin. :fire:

3 Likes
4

I fully support this proposal, I am glad to see the strategic assets we hold and how these assets are effectively working for the protocol.

4 Likes
5

Fully support this.

Perhaps we should shift the base assets (CRV, BAL) to their wrappers and leverage Quest’s vote delegator for easier management? We could propose a OTC swap with Aura as well.

6

Agree with the proposal.
As a side note, I see we already have lots of tokens in treasury, should we discuss what to do with them ?

2 Likes
7

Yes, do you believe we should think about converting them now, or wait for the bear to reverse a bit?

8

It depends what is our goal and the purpose of tokens we own. For tokens we don’t particularly want to hold, it’s better to sell them as soon as we get them to gather other tokens we want to accumulate or to get tokens that can yielding.

It’s notorious that compounding is the 8th marvel world ! As we have a small treasury, for now we should focus on building assets that can grow the protocol ressources/influence and not bothering with assets we don’t even know can bounce back or not.

That said, I don’t know if some strategic asset management already has been drafted ?

1 Like
9

Basically just around CRV, CVX, BAL & AURA

I pushed the vote so we can move forward as there were no opposition to the motion: Snapshot

1 Like