Summary:
Proposal to whitelist Opal treasury to lock hPAL and integrate the vote flywheel.
References/Useful links:
Website: https://opaldefi.xyz/
Twitter x.com
Protocol Description:
Opal is a protocol built on the Ethereum network and deemed to expand on multiple L2s overtime. It employs yield bearing “Omnipools”, which are liquidity pools where users can deposit single sided liquidity within a set of whitelisted assets such as LSTs, LRTs and Stablecoins.
The protocol value proposition is a set and forget, gas efficient, diversified and less time consuming access to numerous farming opportunities.
Omnipools are liquidity pools that Opal uses to allocate a single underlying asset across various Balancer pools and stake it on meta-governance protocols like Aura Finance to take advantage of the multi-level incentive structure. The core mechanisms of Omnipools are: deposits and withdrawals, LP token pricing, external staking and rebalancing of liquidity across Balancer pools.
Each Omnipool allocates liquidity to a set of whitelisted Balancer pools. The distribution between the underlying DEX’s pools is determined by Opal governance through gauges weights votes, defining the share of an Omnipool’s total liquidity that should be supplied to each underlying pool.
Rationale:
Opal had conducted a strategic PAL acquisition 3 months ago and started to lock their whole PAL position on March 26th to anticipate the release of the vote flywheel from Paladin. With this new release now being live, it is now time for Opal to integrate the flywheel by being allowed to lock their hPAL position and participate in this new chapter of Paladin.
Link of locked position:
Address to whitelist : 0xac2a9e91e63b0e58305d8f6e8d29ede53f6d7be8
Locked position : 0x805004fb9cf4fa980d5345be9ff4a79435d83fc5455c9af1561891a326827c12
Means:
None
Voting Options:
For/Against/Abstain
