PTIP-17: Deposit USDC into USDC Prize Pool Sponsorship

Governance PT Improvement Proposals
1

PTIP-17

Simple Summary

Deposit the $4.8 million of USDC currently sitting in the timelock contract into the sponsorship of the USDC prize pool. For voting purposes, combine this action with PTIP-16.

Motivation

This $4.2 million USDC was deposited into the time lock contract as part of the treasury diversification. It was suppose to be transferred in sponsorship tokens (in fact $1.15 million of it was) but due to transfer security constraints the remainder was not transferred as sponsorship.

Transferring into sponsorship simply means this USDC will be contributing value to the protocol and growing larger prizes while we decide what else we may want to use it for.

Status

Technically this was already voted on. This is a housekeeping proposal to implement it.

  • Accept
  • Reject

0 voters

2

Can we skip steps to get this on chain now? This should pass easily
Could a treasury management committee handle something like this in the future?

1 Like
3

We’ll definitely combine this with the other open PTIP. This one is a no-brainer, but having it declared as a separate PTIP is good bookkeeping

3 Likes