Let's deposit some treasury ETH to WETH vault

1

Quoting @TheRealTuna here:

We have a lot of ETH steady on the treasury.

Can we deposit them on V5?

In case of prizes we would have many options:

  1. Buy back and burn POOL;
  2. Use the prize to create yield on the POOL vault
  3. Add it back to the grand prize or prize pool

This would create bigger prizes and/or more value for the POOL pool with relatively low cost for us: just contract risk. We can always withdraw later if we need the money.

This would also launch the signal that we trust our contracts.

Same can be done with the stables we still have.

2

I’m generally in favor of utilizing the treasury like this, but there’s a few issues to resolve imo:

  • Who would custody these funds (temporarily or otherwise)
  • If we’re deployed to 3+ networks as planned, do we distribute these funds between deployments?
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3

Interesting idea.

Custodying these funds will be exceedingly tricky. That’s no small chunk of change. Exec team could but oof that liability.

We would need a robust deployment plan. I think deployer proportional to the yield on the chains would be interesting but cumbersome to upkeep, so we’d likely just want to make a split and stick to it. Where ever has the most DeFi activity would be incentivized the most.

Custody of the prizes gained is another thing. Some watchdogs to see when the prize is won and then needing to trust whomever to make whatever tx is needed for what’s desired.

It’s not straightforward, but I do think it’s worth exploring. Anything to help the optics and boost attention to PT.

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