Summary
Make an offer to Tribe DAO to acquire ~$1.5mm veBAL in an OTC deal.
Background
As part of its asset consolidation strategy ahead of wind-down, Tribe DAO has signaled its intent to entertain OTC offers for its veBAL. The veBAL is locked and non-transferable; however, ownership of the allocator contract controlling the veBAL can be transferred to another person/entity.
Olympus recently whitelisted BAL as a strategic asset for its treasury in OIP 110.
Proposal
Make a proposal to acquire the contract holding the veBAL for fair value, estimated today at ~$1.5 million (subject to adjustments for accumulated rewards). Olympus benefits from an OTC deal vs. price impact associated with open market purchases, which would necessitate a staged approach.
Consideration
The allocator contract should be reviewed to ensure that it is compatible with our treasury and is suitable for our needs.
Polling Period
Due to the time-sensitive nature of the the TRIBE PCV consolidation, the poll will and comment period will remain open for 48 hours before moving to snapshot.
