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.

14 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

2 Likes

PIP-19
Vote for buyback with the BALs of week 4/5.
Total: 5451 BAL

1 Like

Update week 4/5

109,942.49 DOUGH ($88,414.77) have been acquired and removed from circulation.

Swap tx
0x9ed3e936d5e73009cecd46677b8e46c5b6d26e1b8d9ba3298426adf8aa8fb59d
Delivered to the DAO vault
0x877f8aaac0f1251a0eadeebd4bc194132ce145872a57a27008f983457d29ac08

1 Like

Update

123,365.42 DOUGH ($86,890.94) have been acquired and removed from circulation.

Swap tx
0x5575f2819dd42c033487edeea69384d0ffee615dec25a407ef668050265caacc
Delivered to the DAO vault
0x163bb4806c83294765adbc23cf146e737d42e925c683771218bf29d662fb26c7

1 Like

Update

** 93,409.37** DOUGH have been acquired and removed from circulation.

Swap tx BAL
0x2ff9fa1eff70144d8552e79462ce3f208a486e8c5f4d48973d11a56f968380e6

Swap tx UNI
0xfb78743ecb7bb3f06c5a658c299a74069bbeb089d2fa3c8ade2df9207d278cc7
Delivered to the DAO vault
0xa60fe9a8748ccfdedcb9f90867ad3bcf000485f2c8fa34d9859cfb61a9faf4f2

1 Like