GIP-12: Treasury Swaps Program #1 GNO x BAL

GIP-12: Treasury Swaps Program #1 GNO x BAL

  • Do Treasury Swaps Program #1 GNO x BAL
  • Make no changes

0 voters

GIP: 12
title: Treasury Swaps Pilot Program #1 GNO x BAL
author: @claberus, Marcelo Ruiz de Olano
status: Phase 2
type: Meta
created: 2021-08-05

Simple Summary

Create periodic OTC trades GNO X BAL between GnosisDAO and Balancer’s treasuries. The program #1 will consist of 4000 ETH-equivalent GNO (BAL) distributed across 8 months.

Motivation

In April 2021, Gnosis and Balancer launched a partnership integration, the Balancer-Gnosis-Protocol (BGP). This proposal looks forward to strengthening the partnership and aligning the DAOs financially.

How?
-Financial incentives alignment: It will promote the Balancer-Gnosis-Protocol outcome in the best interest of both Gnosis and Balancer

  • Treasury diversification
  • Improved token distribution within long term players
  • Voting power for DAO proposals

Specification

Start a pilot program #1 of 4000 ETH-equivalent GNO (BAL) distributed across 8 months. After the program #1, make a lookback, evaluate the results and define next steps.

Every first Monday of the month Gnosis (Balancer) sends 500 ETH-equivalent GNO (BAL) to Balancer (Gnosis) treasury wallet.

The price will be defined by the last 30 days of open-price historical data average on Coingecko:
GNO: https://www.coingecko.com/en/coins/gnosis/historical_data/eth
BAL: https://www.coingecko.com/en/coins/balancer/historical_data/eth

Link to discussion on Balancer forum

Link to phase1 post

Balancer’s proposal: