Author: filipv
Date: 2022-09-18
Thesis
Revoke outstanding portions of JBP-186: Launch Treasury Management and reallocate ETH which has already been distributed.
Motivation
Many portions of JBP-186 are outstanding, without a clear path to execution. Ecosystem conditions have evolved significantly, meaning this original plan may no longer be as applicable.
Specification
Multisig to:
- Swap 400 wETH for Lido stETH.
- Swap 400 wETH for Rocket Pool rETH.
- Swap 422.33 wETH for Maker DAI
This specification shall utilize wETH already in the multisig—not treasury ETH.
Rationale
- stETH and rETH are relatively decentralized yield-bearing assets with high liquidity and volume locked.
- DAI is a relatively decentralized stablecoin with high liquidity and volume locked.
Risks
Juicebox DAO will inherit risks inherent to stETH, rETH, DAI; as well as their communities, market fluctuations, and their smart contracts and any vulnerabilities therein. Juicebox DAO may also miss out on upside of its current portfolio (almost entirely ETH).
Timeline
The swapping timeline and strategy shall take place at the discretion of the DAO’s multisig signers. Revoke any outstanding portions of this proposal at the earlier to take place of either the Ethereum Shanghai upgrade or January 1st, 2023.