Unlock Protocol

Goal of the Proposal

This proposal requests approval to use ARB tokens from the Unlock Protocol DAO treasury (received from ArbitrumDAO) to pay ApeBond’s front-end fee for their bonding services.

Current Treasury Status

• Total ARB Balance: 23294.000000000000000003 ARB
• DAO ALIAS Address (On Arbitrum): 0x28ffDfB0A6e6E06E95B3A1f928Dc4024240bD87c

Reference

Snapshot temperature check for Front-End Fee Payment

Payment Details

1. Service Fee: 5% front-end fee for ApeBond’s bonding services
2. Total Amount: $4,000 (calculated from $80,000 bonding transaction)
3. Payment Method: ARB tokens from DAO treasury
4. Recipient: ApeBond wallet (0x76E010758D2AE3B81973e2047cE70168CcaE2AbF)

Rationale

1. Treasury Optimization: Using existing ARB tokens from treasury
2. Asset Preservation: Avoiding liquidation of UP tokens or stablecoins
3. Operational Efficiency: Streamlined payment process using available assets

Technical Implementation

The proposal executes a single call to the Arbitrum Delayed Inbox Contract’s createRetryableTicket function on mainnet that will:

1. Create a Retryable Ticket for L2 execution
2. Transfer 5855.0 ARB (~$4000) tokens @ 0.6832 ARB/USDC
3. From: Timelock L2 Alias address (0x28ffDfB0A6e6E06E95B3A1f928Dc4024240bD87c)
4. To: Receiver Contract

Note: While the function requires sufficient funds for submission and execution attempts, successful auto-redemption is not guaranteed. For more details, see Arbitrum documentation.