GIP-21: Amendment to GIP-17. Send additional funds to daughter Safe

GIP-21: Amendment to GIP-17. Send additional funds to daughter Safe

  • Let’s do this!
  • Make no changes

0 voters

GIP: 21
title: Amendment to GIP-17. Send additional funds to daughter Safe
author: @claberus
status: Phase 2
type: Meta
created: 2022-01-03 
requires: GIP-17

Simple Summary

GIP-17 was successfully executed but some funds were not transferred to the daughter Safe due to different business and technical reasons. This proposal aims to amend GIP-17 and send the pending funds.

Motivation

Since the creation of GIP-17 several actions took place that modified the GnosisDAO’s treasury structure and still need to be considered to expand the scope of GIP-17:

  • Additional transfer to GnosisDAO 4 days ago, $30MM. These funds were pending to be transferred due the Reflexer’s thawing period and some additional GNO buybacks. $10MM FLX is the most urgent to be transferred as non-stakers are being heavily diluted right now.
  • A UNIV3 STAKE/GNO NFT position was not able to be transferred to the GnosisDAO due to an outdated Safe. STAKE was converted to GNO and it is pending to be sent .
  • Transfer of ownership of Instadapp smart contract wallet, $170MM: The tokens were specified in GIP-17 but the change of ownership from GnosisDAO to the daughter Safe was not. Smart contract wallet:0xfa5dcf356a2d80cf0c89d64a18a742edaf8d30e8
  • GIP-16 was approved and executed and the resulting funds from the GNO/ETH Gnosis Auction, $80MM, were not considered for GIP-17.
  • Some farming rewards from passive positions accumulated and need to be managed: 23.9K BAL and 104K LDO

Specification

Send tokens from GnosisDAO wallet (0x0DA0C3e52C977Ed3cBc641fF02DD271c3ED55aFe) to Daughter Safe (0x849D52316331967b6fF1198e5E32A0eB168D039d):

  • Send 121,869.87 GNO
  • Send 9,808.6 WETH
  • Send 18,853 FLX
  • Send 245.28 stETH
  • Send 12.35 RETH2
  • Send 1,780.43 BAL

Changes in Phase 3: *
- Change of authority of Instadapp SCW is delayed for a future proposal.
** Modify authority of Instadapp DSA: 0xfa5dcf356a2d80cf0c89d64a18a742edaf8d30e8

From current authority: 0x0DA0C3e52C977Ed3cBc641fF02DD271c3ED55aFe to new authority: 0x849D52316331967b6fF1198e5E32A0eB168D039d
Last change of ownership of this wallet: tx1 and tx2

- Pending reward claims are delayed for a future proposal.
** Claim from Balancer: 23.9K BAL and 104K LDO*
** Send 23.9K BAL*
** Send 104K LDO*

3 Likes

Hello… i am newbie here and i just wanted to say… gnosis is very technical and confusing, in order to have a dao, where people can vote for the best i believe that things should be simplified a bit more… what are the cons and pros of each option?

An educated vote is a good vote, i want to vote but i am honestly clueless about the consequences

3 Likes

This brings up another point… We should allow vote delegation similar to how ENS does it. It likely isnt a good use of the team’s time making sure everyone who owns GNO is brought up to speed on the intricacies of running a DAO with a large Treasury. Gnosis is unfortunately by definition very technical and confusing – thats their edge over others. They understand the space better. Better that we all designate our voting power to knowledgeable delegates and let them get on with building an amazing protocol and DAO. Any support for a new GIP to add token delegating to GNO? Would love someone to opine on the technical practicality. Does snapshot have infrastructure for this in place already?

1 Like

This is an operational proposal to finish the goals from the GIP-17.

1 Like

I think this is a great idea, I participated in several snapshot DAOs who allows for vote delegation and it’s very useful. I always thought this was already implemented in GnosisDAO
@auryn_macmillan Is this something configurable? Do we need a proposal for this?

3 Likes

The GnosisDAO already allows for delegation :smiley:

You just click the “delegate” button on the main menu.

1 Like

Ha! Apologies, I’m new around here :slight_smile: Thanks for the hand

1 Like