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JBP-271: Claim & delegate $SAFE

Author

Anon

Cycle

33

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Author: Dr. Gorilla
Date: 2022-09-29

Synopsis

Claim the $SAFE token (the governance token of Safe, prev Gnosis Safe) from the multisig & delegate the voting power to a JuiceboxDAO contributor

Motivation

The airdrop is claimable until the 27th December 2022 and consist of 2 parts: 3817.86 imediately redeemed and 3817.3 vested over the 4 next years.

While the future value of $SAFE is unknown, the governance role it entails is key for the ecosystem. This airdrop would then be used to vote on future governance process. To avoid multisig burden, the voting power would be delegated, while claiming, to 0xBA5ED (who’s already a registered delegate).

Specification

Using the $SAFE claiming app in the multisig, claim the first airdrop part and delegate the whole voting power to 0xBA5ED

Rationale

Claiming an airdrop has one financial and two non-financial costs:

  • Financial: gas used, which should be less than the potential airdrop gross value (important to note the airdrop is non-transferable for an initial period, the $safe balance would therefore be stuck in the multisig).
  • Non-financial:
    • Adding a risk: it is a contract interaction, with the multiple vectors it implies. Doing so from the Safe frontend, via the built-in official app is a way to reduce the attack surface (ie similar to every interaction we do every FC)
    • Voting burden: reading proposals, debating, forming one own opinion on various topic, for such an important tool, is time- and mental ressources-consuming. It therefore requires some type of giga-brain as 0xBA5ED is.

Risks

small operational/contract risk (care must be taken for every contract interaction arising from the multisig, regardless of the target)

“voting power risk” as 0xBA5ED would be the only representative. This should be discussed during temp check, as multiple delegate is an option to mitigate this risk, or a governing process might be built if the DAO wants to express a vote for every Safe proposals (a delegation system should still be kept, as to not clog the Dao Safe multisig).

Timeline

asap

Votes

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