Memo 0xd09a60e8…1bd26f on Ethereum

0x34e061f4…1d57sent to0xb3a87172…87f02022-03-25·#14,456,762·view on Etherscan

# 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

unknown sendersent to0xb3a87172…87f02022-03-25·#14,456,762·view on Etherscan

transfer(address,uint256)# 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