MGP-13┃Give Voting Power from Treasury tokens to vMIMO holders

Governance Proposal (PGP) Approved PGPs
1

Summary:
This proposal aims to give the voting power from treasury tokens to vMIMO holders.

Rationale:
Thanks to MGP-12 which introduced and launched the Mimo Treasury Strategy the Mimo protocol now has voting power in other protocols including Aura, Balancer, Paraswap & APWine.

The vMIMO holders controlling the Mimo protocol also control the tokens held in the treasury, with the power to vote the tokens they hold. We propose to vMIMO holders to have direct access to this voting power and to be able to vote on protocol proposals.

Concretely this would result in the creation of a new snapshot sub-space called: Mimo┃Treasury Tokens Voting (treasury.mimo.eth) controlled by the DAO multisig (himself controlled by vMIMO holders) which will copy the proposals of the protocols in which the treasury has voting power to allow the vMIMO holders to vote on these proposals, the votes on the Mimo┃Treasury Tokens Voting snapshot will end 36 hours before the official votes allowing the DAO multisig to vote on the proposals.

We also propose to allow @jeanbrasse and @starny to be able to add proposals directly to the Mimo┃Treasury Tokens Voting snapshot without needing the DAO multisig, allowing to increase the speed of copying the proposals to the snapshot.

vlAURA voting power (veBAL voting power not includeed): vMIMO tokens holders will be able to vote on all Aura Finance proposals.

veBAL voting power (veBAL voting power from vlAURA tokens owned by the treasury): vMIMO holders will be able to vote on all Balancer proposals. However, regarding gauges weights vMIMO holders will have the possibility to vote only for gauges that include MIMO, PAR or KUMA related token.

sePSP voting power: vMIMO tokens holders will be able to vote on all Paraswap proposals.

sdAPW voting power: vMIMO tokens holders will be able to vote on all APWine proposals. Regarding APWine gauges weights vMIMO token holders, as there is currently no PAR and/or MIMO pools available we propose to allow vMIMO token holders to choose the pool at each gauge weights vote. However, in case a PAR and/or MIMO obtains a gauge, vMIMO holders will only have the possibility to vote on gauges that include MIMO, PAR or KUMA related token.

Means:

  • Human Resources: DAO signers will need to sign transactions to execute the proposal
  • Treasury Resources: Delegate to vMIMO holders the voting power from tokens owned by the DAO

Technical implementation:

  • Create a new ENS called treasury.mimo.eth derived from the mimo.eth ENS owned by the DAO Multisig
  • Create a new Snapshot space called: Mimo┃Treasury Tokens Voting
  • Setup parameters described in the proposal
  • Reflect all votes from governance where Mimo has voting power in this snapshot
  • Mimo DAO Multisig will execute every reflected proposal after votes from vMIMO holders

Voting options:

  • For giving voting power
  • Against / Rework the proposal
  • Abstain

Authors: @starny & @JeanBrasse from Mimo Labs

Community poll:

  • For giving voting power from Treasury tokens to vMIMO holders
  • Against giving voting power from Treasury tokens to vMIMO holders
  • Abstain

0 voters

3 Likes
2

@JeanBrasse @starny You guys are the best. Thank you :grinning: (the others from MIMO also of course :wink:)

1 Like
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Is it wise to name sStarny and Jean in this proposal, or can we make it a bit more general?

Like:

"We also propose to allow employee mimo lab, with function, ****, to be able to add proposals directly to the Mimo┃Treasury Tokens Voting snapshot without needing the DAO multisig, allowing to increase the speed of copying the proposals to the snapshot.

I don’t hope so, but imagine one or both are leaving unexpected. Or am I thinking too difficult now?

1 Like
4

I’m not sure what you mean, the proposals are written and reviewed by me and/or Jeanbrasse, but they can be written by anyone who wants to get involved in some way

This proposal is about giving voting power from Treasury Tokens to vMIMO holders by the DAO Multisig, and this multisig is half team and “community” owned since its a 5/8 multisig (4 MimoLabs team members + 4 DAO members)

1 Like
5

That is not want i meant. But nevermind. I think it’s not a problem for other people, otherwise they would have reacted to my question.
So all good.

1 Like
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:zap: MGP-13┃Give Voting Power from Treasury tokens to vMIMO holders is live on Snapshot !

The vote started today at 10am CET and finishes on March 31st at 10am CET.

:ballot_box: Vote here :point_down:
https://snapshot.org/#/mimo.eth/proposal/0xcb5fc712c4609faab3eeabb920d906f9bac03d611e4832083c7e184a78792186

1 Like
7

:white_check_mark: With over 4.1M votes from $vMIMO holders, MGP-13 has been approved !

Results:
https://snapshot.org/#/mimo.eth/proposal/0xcb5fc712c4609faab3eeabb920d906f9bac03d611e4832083c7e184a78792186

1 Like