SUDAO-IP-11: Mechanics of suINT KPI Options Redemption (Formal Proposal) (PASSED)

SUDAO-IP-11: Mechanics of suINT KPI Options Redemption

Rationale:

In SUDAO-IP-7 a one time proposal to solve the blockers around distribution of our suINT 1st epoch KPI Options.

The main blocker being:

A snapshot vote is unable to trigger the SU safe into the actions of approving contract collateral or minting the Long / Short tokens. We require an alternate method.

Our epoch 1 KPI Options (suINT) has now expired and the DAO currently holds 75,000 suINT short tokens and 2,976 suINT long tokens.

It is hereby put forth that the Treasury team’s Gnosis Multi-sig safe handles the steps in a similar mechanic described in SUDAO-IP-7 to allow us redeem our now expired KPI Options for their underlying collateral ($UMA tokens).

Content of the proposal

Proposed Mechanics

  • The SU DAO Treasury‚Äôs Polygon safe will be authorized by a successful vote of this proposal to send 75,000 suINT short tokens and 2,976 suINT long tokens to the Treasury‚Äôs team Multi-sig.
  • The Treasury team Multi-sig will redeem our expired KPI Options for their underlying collateral ($UMA tokens)
  • Immediately following the redemption of said tokens, the Treasury team Multi-sig will send the redeemed $UMA tokens to the SU DAO Treasury‚Äôs Polygon Safe.

What on-chain actions might this proposal entail:

Ratification of this proposal via quorum on a snapshot vote would trigger the SU DAO Treasury’s Polygon Safe to send 75,000 suINT short tokens and 2,976 suINT long tokens to the Treasury’s Team Gnosis Multi - Sig.

Here’s the Treasury’s Team Gnosis Multi-sig Address:

0x321Ae246673ab8F31A73d7bB5900C7B97D4AD38A

  • Yes
  • No

0 voters

10 Likes

thanks for moving this forward!

3 Likes

I dont know why we do not do this with voting on UMA‚Äôs governance. Ive not seen one member vote ‚Äúno‚ÄĚ on using a temp multisig.

2 Likes