PIP 19: BAL reward accrued by PieDAO's staking pools

Following up on few preliminary Discord discussions there seems to be some consensus formed around the use of BAL rewards accrued by the staking contracts of both the Balancer DOUGH/ETH 80/20 pool & the DEFI+S/ETH 70/30 pool.

The proposal would be the following:

  1. Market-sell the $BAL rewards (currently 1169.62 BAL total) for ETH
  2. Use the ETH to market-buy $DOUGH off the 80/20 Balancer pool
  3. Deposit the purchased $DOUGH in the DAO’s vault, to be used for future incentives.

The rationale behind this is that by supporting the $DOUGH price in the long run there could be a higher value for LPs contributing to our project, rather than simply fractioning and disbursing BAL which would result in a more short-sighted time-consuming activity.

Similarly, we’d propose to add the purchase $DOUGH back to the DAO vault, since this would aim at forming a healthier recycle of rewards, supporting the $DOUGH price instead of bringing it down as an effect of higher farming rewards potentially offered.

Here [https://client.aragon.org/#/piedao/0x109b588a4f2a234e302c722f91fe42c5ab828a32/vote/290/](http://vote 290), requesting the transfer of the current BAL reward to the multisig that will perform the steps above.

13 Likes

I’m ready, let’s send it boyz!

7 Likes

Please post tx id here, once done.

2 Likes

Week 1
Swap tx https://etherscan.io/tx/0x37fd8761e431b1d9a0d5b4bd065fff160e3ce73e2442eacde1c12264ae607b97
Delivered to the DAO vault https://etherscan.io/tx/0xddfb0b4907d0dfb259404d1ad29605e0acc91866986b7db94c66a1851d5cc521

2 Likes

PIP-19

Vote for buyback with the BALs of week 2/3.
Total: 4729.563048068765189407 BAL

1 Like