DAO Treasury

Overview

To support the growth of the Parallel Protocol a protocol treasury has been set up, funded by the fees generated by the protocol.

Aggregated DAO Treasury can be seen using Octav in real time thanks to their analytics feature:

https://pro.octav.fi/ParallelProtocol/?addresses=0x174162ddece9d0b7b68fd945e38c3372c4c818ba,0x864e844bef7d81c5e6bbc597ed2696b3e1da9371,0x29391a7a809ac7dee6a7f9a014f7eab606faa4e5,0x2046c0416a558c40cb112e5ebb0ca764c3c5c32a,0x25fc7ffa8f9da3582a36633d04804f0004706f9b,0x6fb6a0a35b33e230d0149d49858e1a313a2ad4a7,0xa67fc89d5312812d3413a83418fc75ff78148a7e,0x3de64eed7a43c40e33dc837dec1119dca0a677b4,0x88b8bea325864aefa05891b6ef816f7fb8e3da28

Aggregated DAO Treasury

Multisigs

Ethereum

Multisig	Address
DAO Treasury	0x25Fc7ffa8f9da3582a36633d04804F0004706F9b
MIMO Inflation	0x29391a7a809aC7dEe6a7F9a014F7EaB606fAA4E5
BoughtBack MIMO	0x3de64eed7a43c40e33dc837dec1119dca0a677b4

Polygon PoS

Multisig	Address
DAO Treasury	0x2046c0416A558C40cb112E5ebB0Ca764c3C5c32a
MIMO Inflation	0x864e844bEF7D81c5e6bBC597ED2696b3e1dA9371
BoughtBack MIMO	0x6fb6a0a35b33e230d0149d49858e1a313a2ad4a7

Fantom

Multisig	Address
DAO Treasury	0x174162ddecE9d0b7B68fd945e38c3372C4C818ba
BoughtBack MIMO	0xA67FC89D5312812D3413A83418fc75ff78148a7E

Blast

Multisig	Address
DAO Treasury	0x88b8bea325864aefA05891B6EF816F7Fb8e3da28

Strategy

Initiated by MGP-12 and updated with MGP-15 & PGP-24 a strategy treasury has been implemented by the Parallel DAO. The strategy is performed by the DAO Multisig.

• General:

  • Every month, swap net accumulated (after service providers payment, etc…) paUSD and PAR to get a 30/35/35 split in $ equivalent in wETH (30%), paUSD (35%) and PAR (35%)

• Ethereum:

  • Every month, if there are not enough MIMO in the treasury to get a 80/20 MIMO/wETH share for LP, the DAO will buyback MIMO tokens at the market via TWAP in order to get the 80/20 ratio

  • Every month, deposit and stake ETH with MIMO from the treasury in the MIMO/wETH 80/20 on Aura

  • Every month, deposit and stake acquired paUSD in the paUSD/GYD E-CLP on Aura

  • Every month, deposit and stake acquired PAR in the EURA/PAR E-CLP on Aura

  • Every month, claim BAL and AURA tokens from Aura

  • Every month, swap claimed BAL for AURA

  • Every month, lock AURA tokens and relock current vlAURA

  • Every 4 months, claim APW from sdAPW staking → Deposit and stake them for sdAPW

• Polygon PoS:

  • Every month, if there are not enough MIMO in the treasury to get a 80/20 MIMO/wETH share for LP, the DAO will buyback MIMO tokens at the market via TWAP in order to get the 80/20 ratio

  • Every month, deposit and stake ETH with MIMO from the treasury in the MIMO/wETH 80/20 on Aura

  • Every month, deposit and stake acquired paUSD in the stataUSDCn/paUSD E-CLP on Aura

  • Every month, deposit and stake acquired PAR in the EURe/PAR E-CLP on Aura (and/or EUROe/PAR E-CLP)

  • Every month, claim BAL and AURA tokens from Aura

  • Every month, swap claimed BAL for AURA

  • Every month, bridge AURA tokens to Ethereum

Rights has been granted to multisig signers, with advisory from Mimo Labs & Cooper Labs, to choose in which pools PAR (EURA/PAR, EURe/PAR, EUROe/PAR) & paUSD (paUSD/GYD, stataUSDCn/paUSD) funds would be deposited each month, as well as funds deposited in MIMO/wETH 80/20 pools between Polygon PoS & Ethereum.

Voting power from vlAURA, vlHYPER & sdAPW has been delegated to Mimo Labs.

There are currently 24,601,792 MIMO liquids in the DAO treasury, representing around $145k at time of writing. This may sound like a lot, but it’s actually quite low. There is currently the equivalent of $201k worth of wETH (20%) waiting to be deposited in the MIMO/wETH BPT pool on Polygon PoS, with the equivalent of $804k worth of MIMO (80%). However, there is only $145k worth of MIMO currently in the treasury.

The DAO must keep a minimum of 5,000,000 liquid MIMO in the treasury. In cases where MIMO are insufficient to deposit liquidity in the MIMO/wETH pool with the 80MIMO/20wETH ratio, MIMO be bought back at the market on Polygon PoS/Ethereum, using the wETH dedicated to the liquidity pool, until the ratio 80MIMO/20wETH is reached.

Note: If liquidity pools are to change over time, but retain the same tokens, multisig signers get the right to migrate liquidity to the new pools without the need for a DAO vote.