[GIP-109] Replenish the reserve fund
Motivation
This proposal builds on what has already been done in GIP-83 The Reserve Fund logic is one of the security measures for passive lenders, you can read about it in the docs
After the DAO voted to create the Gearbox V3 Reserve Fund (this was done in [GIP-83]) dTokens from the treasury wallet were moved to the Reserve Fund wallet, at the current exchange rate this is $797,000. These funds are both liquidity for V3 pools and reserve funds. There are also 208,329 DAI left on the DAO wallet from V2, which I propose to transfer to the Reserve Fund and move from V2 pools to V3 pools, thus providing liquidity. It is important to say that for V3 dTokens we have provided a version that does not earn GEAR LM and thus does not take away part of GEAR from other users.
You can see that DAO wallet earned 3,016,881 GEAR while collecting commissions. (See here) I also suggest to “claim” the earned GEAR and leave them in the DAO wallet. The V2 version no longer has GEAR LM, so no more GEAR rewards will be credited to this wallet.
Thus in this offer it is proposed:
Move 208,329 DAI from V2 to V3 pool and them to the reserve fund wallet Transfer 3,016,881 GEAR from the DAO wallet and keep them
Voting
approve / reject
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0xC4CA...43153B | 71.795M | approve |
 0xCc99...d0F366 | 58.42M | approve |
 0xAa16...056c17 | 40M | approve |
 0xf3D4...49d89E | 35.206M | approve |
 0x6D52...ceA2d7 | 34.333M | approve |
VOTE POWER
Proposal Status
- Tue March 26 2024, 03:03 pmVoting Period Starts
- Fri March 29 2024, 03:03 pmEnd Voting Period
Current Results
1-approve
307.251M