PGM-7 : Adding POL Depth (Formerly PGP-7)

TL-DR: Add 600,000 PAL to the POL strategy in order to deepen the depth of the pools, reduce slippage and enable larger buys.


PAL token just became liquid. There is currently one live 60/40 PAL-ETH pool in Balancer with ~400,000$ of depth (70 ETH our of 320w/ PAL equivalent). This has led to high slippage especially on the sell side from farmers.


PAL price on the short term is irrelevant as there are quite a few large announcements in the works. However, the current depth prevents large actors from aping into PAL. This is a shame as LPing as a DAO is proving to be an extremely lucrative opportunity for us with consistent 50%+ APY.

On top of the LPs currently in preparation for Curve (should be live by monday since we had a price feed extremely fast, with ~1,500,000$ depth). Until then, we will double the depth of the 60/40 Balancer pool (to 800,000$ - 70 more ETH added w/ PAL equivalent) before closing it to open an 80/20 PAL-USDC pool on Balancer (500,000$ depth to begin with, costing us 30eth to be swapped in USDC).

Balancer will activate veBAL tokenomics on the 4th of April and the same Warden hyper-farm strategy can easily be duplicated there for us. Also, having an 80/20 pool will enable large buyers to ape into PAL with low slippage.

Means :

  • 600,000 PAL to be deposited as LP

Sustainability :

  • This would bring the total circulating supply to 3.1M PAL (3M$ Market cap) and enable the DAO to control 38% of the circulating supply as an LP.

Voting options: Yes / No / Abstain

Duration: 48h, starting 6pm CET today (this is urgent).


Did the vote already start? Looks like a solid plan to me. Will be voting yes.