Proposal to Withdraw SPOT liquidity from Billbroker and Redeem

Ampleforth Governance
1

The FORTH DAO has a mandate to support the AMPL ecosystem and maximize use of its assets.

This proposes to withdraw the DAO’s SPOT/USDC assets from Billbroker. There is currently more SPOT liquidity and supply than necessary. Moreover, in times of high market volatility Billbroker assets tend to be sidelined (as they have in recent contraction).

Redeeming the DAO’s SPOT 1) increases the vault’s DR, 2) frees up AMPL that (among other things) can be deposited into the rollover vault to further increase DR.

This action allows the DAO to put assets to better use — and supports the ecosystem by improving the health of the rotation vault.

Implementation

  1. Transfer Bill Broker notes from the Timelock to Kennel Club multisig
  2. Redeem the notes for SPOT & USDC
  3. Redeem the SPOT for the underlying tranches
  4. Once all tranches have matured, the AMPL and USDC will be sent back to the Timelock address
1 Like
2

Given the state of broader markets I motion to move this to an onchain vote

3

I would create a signal vote first to see what is the broader sentiment.