Title: Deposit fees from the UNIv3 liquidity position to the multisig Squad: Icedcool, Tomahawk, Ernest of Gaia, Sprinklesforwinners Date Created: 1/26/23 Forum Post: Link

TLDR:

• BanklessDAO has earned on its full range Uniswap liquidity position. 2
  • ~1.1 million BANK
  • ~9.76 ETH
• This proposal is to pull these fees and deposit them into the BanklessDAO Multisig. 3

BACKGROUND

The snapshot vote Tokenomics - Migrate DAO-Owned Liquidity to Uniswap V3 1 pulled the liquidity acquired from OlympusPro Bonding, owned by the treasury, and migrated that over to Uniswap v3 as a full-range position. This was sought in order to have a price oracle that could integrate with RARI (which now no longer supports borrowing) or other DeFi platforms in the future. The UNIv3 position has additionally benefited us by consolidating the BANK-ETH liquidity, driving the majority of the volume to Uniswap and improving fee revenue to the DAO treasury.

Uniswap offers a 1% fee pool for smaller market cap tokens with higher volatility (perfect for BANK), and this pool is now where the majority of the existing liquidity lives. Making Uniswap v3 the primary source of liquidity for BANK has shown to be a clear benefit, supporting the majority of transaction volume and maximizing fee revenue to the DAO treasury.

SPECIFICATION

The steps would be as follows:

1. BDAO multisig 2 would submit a fee-collecting transaction 1 to collect accrued fees 2 from the UNIv3 liquidity position.

2. The fees that have been earned would then be deposited into the BanklessDAO multisig.

POLL

Approve Abstain Reject