✔️ MCCP 12: Whitelist Balancer DAO Gnosis Safe in Staking V2

Summary:

We recently conducted a token swap with Balancer DAO (TDP 29). This swap was executed and Balance DAO is now wanting to stake the acquired MTA. This can be only done when we whitelist the multisig address in the Staking V2 (MIP 15) contract. It is therefore proposed to whitelist the Balancer DAO Gnosis Safe in Staking V2

Abstract:

With the introduction of Staking V2, we introduced a limitation that only Externally Owned Accounts (EOA) can stake MTA or mBPT. The functionality to whitelist certain contract addresses was added. This proposal requests to whitelist the Balancer DAO multisig:

0x10A19e7eE7d7F8a52822f6817de8ea18204F2e4f

Motivation:

Since we conducted the token swap with Balancer DAO, the MTA should be able to be used in the Staking V2 contract and subsequently to vote on dials. The intent was to give Balancer DAO a voice in the Emissions Controller and allow them to vote on their pools. We should whitelist this address because this was the intention of the swap from the beginning.

Specification

To whitelist the Balancer DAO multisig the following transactions will be executed by the ProtocolDAO multisig:

  • Staked MTA (stkMT)
    • 0x8f2326316eC696F6d023E37A9931c2b2C177a3D7 :
    • whitelistWrapper(0x10A19e7eE7d7F8a52822f6817de8ea18204F2e4f)
  • Staked Token BPT (stkBPT)
    • 0xeFbe22085D9f29863Cfb77EEd16d3cC0D927b011 :
    • whitelistWrapper(0x10A19e7eE7d7F8a52822f6817de8ea18204F2e4f)

Next Steps

Due to the proposed expedited process to allow Balancer DAO to stake as soon as possible, this proposal will be taken to a Snapshot vote on Monday, the 20th December 2021 .

Voting will be open for a 5 days window to give adequate time for a concurrent discussion. Governors can change their vote at any time should the discussion sway their decision. We look forward to hearing what MTA token holders have to say and seeing how they cast their votes.

1 Like

Fully support this of course :smiley:

Question: does this mean that every multisig needs whitelisting? Interested to hear why this was done

Every smart contract that wants to stake needs to be whitelisted. Gnosis Safe is a smart contract itself.

I think this was discussed previously, but as far as I know, the idea was that the slashing mechanics require the cooldown period. In theory, however, any other smart contract could just wrap the staking mechanics and create a secondary market for staked MTA, rendering the slashing in a sense ineffective.

The vote is live: Snapshot