Summary
This proposal seeks DAO approval to claim the fees generated by the Cryptex Protocol on Arbitrum using the Perennial Protocol, totaling approximately $15,988.60 USD, and to transfer these funds into the Cryptex DAO Treasury on Mainnet.
Background
Cryptex Finance v2 was built using the Perennial Protocol on the Arbitrum Network. As a result $15,988.60 USD was accrued on fees. The asset acquired was DSU, which is a wrapped asset used on the Perennial Protocol. The goal of this proposal is to unwrap these assets and transfer them back to the mainnet treasury.
Currently, these funds remain in the Arbitrum Treasury associated with the deployment and have not yet been moved or utilized. As the Perennial Protocol has sunset, we want to be cautious and unwrap the tokens.
Rationale
The efforts of the Core Contributors team are focussed on generating revenue for the DAO, these efforts come in multiple forms, in this case the deployment of V2 on the Arbitrum Network by ways of the Perennial Protocol.
Transferring the generated fees to the Cryptex DAO Treasury aligns with the DAO’s principles of transparency, decentralization, and collective stewardship of protocol revenues.
By consolidating these funds under the DAO’s management, members can collectively determine their future use whether for funding research, development initiatives, liquidity programs, or other governance approved purposes.
In the future we will continue to see this type of transactions as revenue keeps coming in from the deployment and execution of the products created by the team.
Proposal Objective
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Unwrap the **$**15,988.60 DSU in fees generated using the Perennial Protocol deployment on Arbitrum.
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Transfer the claimed funds from the current wallet to the Cryptex DAO Treasury wallet on Mainnet.
Voting Options
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Vote FOR — Authorizes the claiming of the $15,988.60 DSU in fees and the transfer of funds to the DAO Treasury. -
Vote AGAINST — Leaves the funds in their current wallet with no further action taken.
Next Steps
If approved, the Cryptex governance operations team will initiate the claim and transfer process. A transaction hash and confirmation will be posted in this forum thread once completed for transparency.