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:

Strategy

Initiated by MGP-12 and updated with MGP-15, PGP-24 & PGP-30 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, PAR & USDp to get a 30/70 split in $ equivalent in wETH (30%) and USDp
- Every month, deposit and stake wETH with PRL from the treasury in PRL/wETH pools. chains, protocols and pools will be determined by the DAO multisigs with the advisory of Cooper Labs & Mimo Labs. This in order to bring greater flexibility in terms of management.
- Every month, if there are not enough PRL in the treasury to get correct PRL/wETH ratio for LP, the DAO will buyback PRL tokens at the market via TWAP in order to get the right ratio to deposit in liquidity pools
- Every month, deposit and stake USDp from the treasury in USDp/XYZ pools. Chains, protocols and pools will be determined by DAO multisig signers with advice from Cooper Labs & Mimo Labs. However pools must be non-IL, which means that USDp tokens can only be deposited in pools with another USD stablecoin. This in order to bring greater flexibility in terms of management.
- Every 4 months, claim SPECTRA from sdSPECTRA staking → Deposit and stake them for sdSPECTRA
- If there are funds deposited & staked 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
- If there are funds deposited & staked on Beets:
  - Every month, claim BEETS tokens from Beets
  - Every month,stake BEETS as maBEETS
- If there are funds deposited & staked on Shadow:
  - Every month, claim SHADOW tokens from Shadow
  - Every month, lock xSHADOW
- If there are funds deposited in another protocol not listed above we propose to let DAO Multisig signers manage what to do with rewards, with advice from Cooper Labs & Mimo Labs. This in order to bring greater flexibility in terms of management.

Voting power from vlAURA, sdSPECTRA, xSHADOW, maBEETS & potential additional governance tokens has been delegated to Mimo Labs. At least 5,000,000 liquid PRL must stay in the DAO treasury.

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.