OIP-115: Propose OTC offer for Tribe's veBAL
Summary Make an offer to Tribe DAO to acquire ~$1.5mm veBAL in an OTC deal.
Background As part of its asset consolidation strategy ahead of wind-down, Tribe DAO has signaled its intent to entertain OTC offers for its veBAL. The veBAL is locked and non-transferable; however, ownership of the allocator contract controlling the veBAL can be transferred to another person/entity.
Olympus recently whitelisted BAL as a strategic asset for its treasury in OIP 110.
Proposal
Make a proposal to acquire the contract holding the veBAL for fair value, estimated today at ~$1.5 million (subject to adjustments for accumulated rewards). Olympus benefits from an OTC deal vs. price impact associated with open market purchases, which would necessitate a staged approach.
Consideration The allocator contract should be reviewed to ensure that it is compatible with our treasury and is suitable for our needs.
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0xED2A...B6E6D8 | 25,899 | Grant authority to propose OTC |
 0x5E11...BCEc1d | 24,356 | Grant authority to propose OTC |
 0x277d...5a54C1 | 13,886 | Grant authority to propose OTC |
 0xeAbe...DF74c6 | 11,501 | Grant authority to propose OTC |
 0x6B98...484EEe | 8,467 | Grant authority to propose OTC |
VOTE POWER
Proposal Status
- Mon August 29 2022, 01:29 pmVoting Period Starts
- Thu September 01 2022, 01:29 pmEnd Voting Period
Current Results
1-Grant authority to propose OTC
154,195.531
2-Do not grant authority for OTC
71.959