Balancer DAO’s Treasury Is Rapidly Diversifying Across DeFi - The Defiant - Deepstash
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The Balancer community has begun integrating itself with other decentralized finance protocols by trading its governance tokens for those of other DAOs, also known as treasury swaps.

This could be the start of a larger trend of DAOs taking a more active role in other DAOs, using the strength of their holdings to trade for influence across decentralized finance (DeFi). Holders of Balancer’s governance token, BAL, are considering two proposals now, from mStable and PrimeDAO , following a successful proposal from the algorithmic stablecoin project, Fei , that closed on November 12. 


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What does it mean when lots of DAOs all own little pieces of each other and participate actively in each other’s governance process? It was one thing whenNuCypher and Keep merged their encryption protocols because that was a clear case of two becoming one. With proposals like this, however, DeFi is becoming a blockchainifiedrat king of endeavors. It’s anyone’s guess where that leads, but at least all the alignment will be viewable on-chain.


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With Fei , the Balancer DAO voted to trade 200,000 BAL from its treasury for equal parts of Fei’s two tokens: FEI, its stablecoin, and TRIBE, its governance token. This deal directly benefited Balancer because Fei committed to make a BAL deposit into Balancer’s BAL/WETH pool, using its own supply of ETH to match the BAL, which would increase the total liquidity available on Balancer.

The deal enables Balancer to lock in some of its treasury value with a stablecoin (which is insurance against a downturn), and to earn yield using Fei’s incentivized staking program, should it choose to do so.


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The stablecoin yield platform mStable wants Balancer to become an active part of its governance process and to advocate for BAL holders. To that end,mStable has proposed a trade between the two projects treasuries: 20,000 of Balancer’s governance token, BAL, for MTA, mStable’s governance token, of equal value ($322,000 as of later afternoon Wednesday in New York).

Soon, mStable will release its own version ofthe gauge used by the decentralized exchange for stablecoins, Curve . Curve uses the gauge to decide how much of its daily CRV emissions go to depositors in its many liquidity pools.


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Meanwhile, PrimeDAO wants to getBalancer directly involved in its operations.

This is the most complex deal. PrimeDAO is asking for 25,000 BAL ($405,000) which it will use for a pool with equal parts of its token, PRIME, and BAL on Balancer. Then it will return half the liquidity provider tokens for that pool to the Balancer treasury, so they will each benefit from trading fees and BAL rewards on the pool.

PrimeDAO further commits in the proposal to strike similar deals with other protocols for jointly owned liquidity pools on Balancer.

And 156,000 BAL have voted for this proposal.


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