Author: filipv
Date: 2023-10-23

Thesis#

Revoke the entirety of JBP-186 - Launch Treasury Management.

Motivation#

JBP-186 - Launch Treasury Management was approved without a clear path towards or guidelines for its execution.

JBP-188 - Amend JBP-186 - Launch Treasury Management attempted to clarify these ambiguities but failed to pass temperature check.

JBP-264 - Update Treasury Management, a proposal which attempted to rectify outstanding portions of JBP-186, saw some support but failed to reach Snapshot quorum.

Market conditions, as well as the DAO’s circumstances, have changed considerably since JBP-186 was originally approved. Contributors which would have otherwise stewarded such a process are no longer active Juicebox contributors. Juicebox should aim to resolve any outstanding governance proposals.

Specification#

• Multisig to unwrap 1,205.31527829 wETH in exchange for ETH.
• Multisig to add the resulting ETH to the balance of the JuiceboxDAO v1 treasury.
• Revoke the entirety of JBP-186 - Launch Treasury Management.

Rationale#

JuiceboxDAO’s v2 and forthcoming v3 treasury do not have the balances necessary to support redemption (and as such have redemption disabled). Until a v1 -> v2/3 token migration can take place, the DAO should concentrate the majority of its ETH in its v1 treasury to support redemption.

Risks#

Revoking this proposal leaves the DAO with no clear plan for treasury management, which leaves the DAO with high exposure to ETH (and its volatility).

Timeline#

Effective upon this proposal’s passing. To be executed within the following 30 days.