Q3+ 2022 - Treasury Council Disclosure

Q3+ 2022 - Treasury Council Disclosure




As mentioned in WIP 15, Treasury Council votes are to be disclosed on a quarterly basis.

Of note. given how the poll bot works you will notice that some are noted “one vote missing”. This is essentially because the poll was closed before everyone had voted, but the super majority was still met.

Here is a chronological list of the Treasury Council votes that were executed or voted down:

August 3rd 2022

$10mm BTC - price at Daniele’s discretion
approved - 5 out of 5

$10mm ETH - price at Daniele’s discretion
approved - 5 out of 5

$3mm USDC in alUSD/FRAXbp pool
approved - 5 out of 5

August 14th 2022

$3mm USDC in LUSD/FRAXbp pool
approved - 4 out of 5

August 17th 2022

Invest $5mm or $10mm into TEMPLE
not approved - 3 out of 5 ($5mm)

August 24th 2022

Add all ETH/wBTC/USDT to tricrypto, add to Abra, take 30% loan and add to MIM3POOL with MIM
not approved - 2 out of 5

August 25th 2022

$5mm USDC to Balancer AAVE/Aura
approved - 4 out of 5 (one vote missing)

September 11th 2022

Allocate an additional 35m BSGG token for farm
approved - 5 out of 5.

September 18th 2022

Refuse the OTC offer for 2/3 market price for BSGG tokens for the upcoming redemption? -
approved - 5 out of 5

Remove the BSGG liquidity pool?
approved - 5 out of 5

September 20th 2022

Distribute redemption Q3 with 25% of currently liquid BSGG tokens (liquidity will be pulled before)?
approved - 4 out of 5 (one vote missing)

Allocate $6mm into the TrueFi lending pools split equally between USDC and USDT and farm?
approved - 5 out of 5

Allocate $2mm into the Covered Call Options Vault on StakeDAO?
approved - 4 out of 5 (one vote missing)

September 21th 2022

Deploy $12.5mm into GLP (Arbitrum) split evenly across USDC/WBTC/ETH?
approved - 6 out of 5 (accidental additional vote from TO)

Pull the LP on Balancer
approved - 3 out of 5 (poll closed early, TC members confirmed approval)

Pull the wMemo/MIM LP?
approved - 4 out of 5 (missing one vote)

Deposit our DAI on Ethereum ($5,9mm) on Uwulend to earn emissions?
approved - 4 out of 5 (missing one vote)

Swap $5mm of USDC to Frax and lend on UWUlend to earn emissions?
approved - 5 out of 5

September 22th 2022

Provide signers with necessary gas fees?
approved - 5 out of 5

Claim the $SIFU which has vested and lend them on UwULend?
approved - 4 out of 5 (one vote missing)

September 23th 2022

Adjust revshare farm to allocate at a target of 25% APR yield using Spell?
approved - 5 out of 5

Sell $4mm wBTC for USDT
approved - 5 out of 5

September 26th 2022

Pull the LP on Balancer and swap it for USDC in preparation for the redemption?
approved - 5 out of 5

Swap the USDT on ETH for USDC in preparation for the redemption
approved - 5 out of 5

Bridge the USDC on ETH to AVAX for the redemption?
approved - 4 out of 5 (missing one vote)

September 27th 2022

Loop our DAI on UwU Lend
approved - 5 out of 5

September 28th 2022

Put our current UwU rewards into vesting?
approved - 5 out of 5

Unstake our alUSD + FRAX + USDC on Convex Pool (paying 4.8%) and convert to DAI. Claim corresponding CRV/CVX rewards?
approved - 4 out of 5 (missing one vote)

Unstake our LUSD + FRAX + USDC on Convex Pool (paying 4%) and convert to DAI. Claim corresponding CRV/CVX rewards?
approved - 4 out of 5 (missing one vote)

Invest $3mm using USDC into Clearpool (Polygon)
approved - 4 out of 5 (missing one vote)

Send $3mm USDC to SifuVision wallet to facilitate bridging $3mm USDC to a new WL controlled Polygon wallet?
approved - 4 out of 5 (missing one vote)

September 29th 2022

$3mm of USDC in Nibbio on Clearpool?
approved - 4 out of 5 (missing one vote)

September 30th 2022

Pull our MIM+3Pool?
approved - 5 out of 5

Swap all the convex pool tokens to DAI. Deposit an additional $4mm of DAI into UWUlend.
approved - 5 out of 5

October 3rd 2022

Dump our entire WBTC exposure (516.4811 WBTC/$10mm). WBTC will be sent to Sifuvision wallet to facilitate swap over a 3 day maximum period. We will swap for $3mm in USDC (to be allocated later) and the remainder (roughly $7mm) in DAI.
approved - 4 out of 5 (missing one vote)

October 5th 2022

Vest all of our UWU rewards today before the weekly cutoff?
approved - 5 out of 5

Compound and stake all of the rewards on the GLP Arbitrum position?
approved - 4 out of 5 (missing one vote)

POLL REVISION: Add as much esgmx to the vesting pool as possible, stake the remainder of our rewards on GLP?
approved - 4 out of 5 (missing one vote)

October 6th 2022

Put $2mm of USDC into Folkvang?
approved - 5 out of 5

Sell 100mm BSGG via Sifuvision
approved - 4 out of 5 (missing one vote)

October 7th 2022

Reduce the farm APR to a new target of 15%, starting on the next weekly cycle?
approved - 5 out of 5

October 11th 2022

Remove our entire Frax position from UWUlend (paying 6% with UWU rewards). Deposit our wallet balance of USDT (4,857,336.3135 ) into UWUlend with 5x leverage.
approved - 5 out of 5

October 12th 2022

Vest our current UwU rewards and keep doing so on a weekly basis, Wednesdays?
approved - 5 out of 5

October 13th 2022

Pull our USDT on TrueFi
approved - 4 out of 5 (missing one vote)

Swap our 5,008,288.3878 Frax to DAI to reduce risk (was pulled from UWUlend)?
approved - 5 out of 5

October 14th 2022

Leave enough spell to continue our farm at 15% for another week (deposits made on Monday). Send the remaining sSpell to SifuVision to be sold in small chunks due to liquidity.
approved - 4 out of 5 (missing one vote)

October 16th 2022

Swap all of our ICE exposure ASAP (300,000 tokens) via SifuVision.
approved - 5 out of 5

Bridge our MIM balance on Avax (437,457.9488) to Eth wallet for better liquidity via Sifumeda (Sifuvision) and swap it for DAI.
approved - 5 out of 5

October 17th 2022

Claim GLP Rewards: Add as much esgmx to the vesting pool as possible, stake the remainder of our rewards on GLP (and compound Eth), do so on a weekly basis until voted otherwise?
approved - 5 out of 5

Invest $2mm USDC in borrower Folkvang via Ribbon Lend
approved - 5 out of 5

Revised Poll: Pull our full Folkvang investment from Clearpool (roughly $2mm) and invest a total of $4mm into Folkvang on Ribbon Lend.
approved - 4 out of 5 (missing one vote)

October 19th 2022

Move forward with UwU Lend private round?
approved - 4 out of 5

Target a new APR of 10% in the revshare farm utilizing USDC.e starting on the next weekly allocation until voted otherwise. Rationale: Allows holders to compound wMemo easily, some of our farmed tokens are not on Avax, and others have limited liquidity.
approved - 5 out of 5

Swap our $CRV on Ethereum for $DAI?
approved - 6 out of 6

October 29th 2022

Send $3mm DAI to Sifuvision for swap to USDC and bridge to Polygon wallet. Deposit $3mm USDC into Clearpool Polygon Borrower LedgerPrime at 11.5%
approved - 6 out of 6

November 3rd 2022

Put 2844 $ETH into Liquity, borrow $1,500,000 worth of LUSD and bond it using Chicken Bonds?
approved - 5 out of 5



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