memoscan

0x34e0…1d57

All memos sent from and to 0x34e0…1d57.
0x34e061f4…1d57sent to0xb3a87172…87f0·#16,930,115·0xd7a26649…a89559
# TBR-Q2-2023 Executive Team Purpose The Executive-Team has been the primary custodian of prize pool contracts and prize liquidity since V4 inception. We handle custody and transaction matters where directed by governance, such as claiming rewards, and receiving tokens on networks other than mainnet. We are the goto solution for maximum security custody for the community. We will continue the custody of delegations for the Community Team, Grants, and SerHotMike. Custody continues to be $300k in total. We continue with a custody limit of $750k to put a hard cap on our total custody. Activities that approach the cap will be brought forward as an alert. Any funds over that amount will need to be approved by a vote to change the cap. This gives the community a clear picture of what our custody risk is. Goals Our primary focus is security. We maintain a 7/11 multi-sig of senior contributors who are well versed in PoolTogether infrastructure, happenings, and the greater DeFi ecosystem. We look to act in a timely and efficient manner to ensure prize liquidity never runs dry, and that Pooler and treasury funds are safe. These pillars form our goals Security No loss. We strive to never lose funds. This is an easily evaluated metric we strive to maintain. Acting on governance directives A quarterly team survey evaluates our performance alignment with governance directives. The executive-team aligns with the council. Any concerns from the community are encouraged. Ensuring prize delivery Prizes promised are prizes delivered. We strive for no failed prize claims due to a lack of prize liquidity. Acting in an organized and efficient way. A new procedure is being introduced to outline execution time expectations. Transactions will be presented by lead as having a standard 24hr time to sign and execute. Transactions requiring more immediate attention will be presented with a 12hr time to sign and execute. The team will strive to always meet these deadlines and missed time windows will be reported at quarters end. Read more RFC https://gov.pooltogether.com/t/rfc-tbr-q2-2023-executive-team/2818
0x34e061f4…1d57sent to0xb3a87172…87f0·#14,628,919·0x1143fc3a…cb40f1
# PTIP-70 Uniswap V2 POOL rewards renewal # Simple Summary Continue POOL distribution to UNI V2 liquidity providers for 60 days # Motivation Supporting POOL/ETH liquidity on mainnet where the majority of trading volume occurs Further distributing the POOL token to protocol participants # Overview The current POOL incentives end in less than 3 days. This proposal continues the LP rewards at 150 POOL per day. This distribution would last 60 days at which point it could be renewed by governance or left to expire. # Rationale Without liquidity the POOL token will become more volatile. Pending a new liquidity solution we should continue our rewards to Uniswap V2 POOL/ETH. The liquidity providers provide an important service to the protocol and have proven themselves long-term aligned.
0x34e061f4…1d57sent to0xb3a87172…87f0·#14,456,762·0xd09a60e8…1bd26f
# PTIP-67 Move 400k PTaUSDC to Prize Reserves # PTIP-67 Move 400k PTaUSDC to Prize Reserves ## Simple Summary This proposal will move 400k PTaUSDC from treasury deposited V4 "sponsorship" to the prize reserves managed by the executive-team. Having adequate prizes reserves ensures all prizes awarded can be fulfilled. ## Abstract This proposal on execution will transfer 400k in PTaUSDC to the executive-team safe on Ethereum mainnet. The executive-team then will balance the prize liquidity reserves across chains. ## Motivation Refilling the prize reserves is an accounts management activity for the treasury. We do not keep all treasury V4 deposits in prize liquidity because it is managed by a multi-sig. But we do need an amount sufficient to balance prize liquidity across chains efficiently and provide cushion for any possible demand scenarios. ### Overview It is estimated this liquidity provision will sustain us for two months with the current prize distribution or six months with the proposed prized distributions in PTIP-66. ### Rationale By analyzing the rate of prize liquidity depletion, the recent deposit metrics, and Aave yields we see that the prize reserves are depleting at around 6k USDC per day. With the current reserves and outstanding claimable prizes we have around two weeks to zero, all things held equal. Because of the nature of the cross-chain system, the fluctuating variables in prize liquidity demand, and the time it takes for governance to take action, we should act now to avoid any situation of depositors attempting to claim prizes that are not there to be claimed. There will be no change in effective yield generated by the treasury deposits as prize reserves compared to sponsorship. ### Technical Specification Transfer 400000000000 PTaUSDC (0xdd4d117723C257CEe402285D3aCF218E9A8236E1) from Treasury Timelock to Executive-Team Gnosis safe on Ethereum (0xDa63D70332139E6A8eCA7513f4b6E2E0Dc93b693) ## Status RFC with poll showing consensus here: https://gov.pooltogether.com/t/rfc-prize-liquidity/2102