In our efforts to provide more timely updates on Alchemix Governance activities, this Governance Update is sent out with two live Snapshot votes, for AIP-45 and AIP-46 respectively. Be sure to read up on each AIP below, and head over to the Alchemix snapshot page to cast your vote.
Optimism OP Token Airdropped to Alchemix Snapshot Voters
Also a quick word on the value of active governance. Voters who participate in Alchemix snapshot votes are not only helping to strengthen Alchemix Governance, they can be rewarded for it as well!
Optimism, the Ethereum Layer 2 Optimistic Rollup, has allocated future OP tokens to users who have participated in at least two snapshot votes. Alchemix snapshot voters were naturally included in this group, so remember to check for your eligibility and be sure to continue voting!
[AIP-45] Strategic Fund for Acquiring Illiquid Assets
Community member 0xzert / zarkem and the BizGov SubDAO propose to authorize the core team to opportunistically purchase strategic illiquid assets with treasury funds. A budget of $500k USD is allocated to the multisig to allow it to acquire strategic assets without the risk of being front-run by third parties, which is an issue for DAOs that want to purchase assets but have to go through a relatively lengthy approval process to spend funds.
Once completed, any acquisition will be retroactively confirmed by the prevailing Alchemix governance process (currently a snapshot vote), thereby retaining ALCX token holder governance over the protocol. If the community votes to retain the purchased assets, the budget for the Strategic Acquisition Fund will be refilled.
This AIP is currently subject to a snapshot vote and closes on Sunday May 1, 2022 @ 14:00 UTC. See also AIP-45 for more details.
[AIP-46] Liquid lockers for Alchemix Incentives
This proposal aims to increase Alchemix AMO profit (via greater CRV rewards), boost Alchemix liquidity, and increase emission efficiency through strategic acquisitions of sdCRV and SDT.
Scoopy Trooples proposes that the acquisition of these assets will yield more efficient veCRV voting power, which is crucial for Alchemix’s positioning in The Curve Wars. These tokens will be acquired by converting $6.15m of assets from non-AMO protocol owned liquidity into CRV, and a DAO-to-DAO token swap with StakeDAO: ALCX for SDT of equal value.
This proposal assumes that Stake DAO will whitelist Alchemix for veSDT governance and approve the token swap; if StakeDAO or Alchemix reject the proposal, Alchemix will liquidate their current SDT holdings.
This AIP is currently subject to a snapshot vote and closes on Monday May 2, 2022, @ 3:00 UTC. See also AIP-46 for more details.