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: Balancer Price: BAL Live Price Chart & News | CoinGecko