Season 3 veDAO is here 🎆
SZN2 of the DAOhaus collaborative liquidity provision experiment brought the HAUS token home to mainnet with a new Balancer pool. Now, SZN3 — codenamed veDAO — takes things to the next level with veBAL.
SZN3’s objective is to boost rewards for HAUS LPs by acquiring and using veBAL to vote on the HAUS/WETH gauge, thereby directing a stream of BAL rewards to HAUS LPs.
SZN3 launches 9am EDT on Sunday, May 1. The join period will be open for 4 days until 5pm EDT on Wednesday, May 4 (see below for how to participate).
How will it work?
Participants — that’s you! — will contribute ETH to the DAO and receive loot shares. This process will be buttery smooth using the DAOhaus Yeeter.
The DAO will convert the ETH into BAL/WETH, and then stake that to receive veBAL (see details below)
The DAO will use the veBAL to vote on the HAUS/WETH gauge to support BAL emissions to the HAUS/WETH pool and to earn Balancer protocol rewards — that means yield for you!
The DAO will stake its HAUS/WETH BPTs to earn BAL rewards for the DAO — more yield for you!
BAL emissions will be claimed and re-staked for more veBAL
At the end of the SZN we will return all staked assets and rewards to DAO treasury. 💥
You’ll receive a share of Balancer protocol revenues + BAL rewards earned by SZN3 veDAO through staking its BAL/WETH and veBAL.
Your earnings will be higher by joining the DAO than by going it alone: the veDAO will take care of all the operations and cover all gas fees.
You’ll receive a sweet POAP to commemorate your participation in SZN3 veDAO.
You’ll support HAUS liquidity and help create demand for the HAUS token — if you’re already a HAUS holder, this is great for you!
Loot price will be based on the market value of existing SZN2 loot shares
Minimum contribution: 0.1513 ETH (this is also the price for 100 loot)
Maximum contribution: 100 ETH
Yeeter Goal: 42 ETH
Yeeter Maximum: 420 ETH
Yeeting Start: Sunday, May 1, at 9am EDT
Yeeting End: Wednesday, May 4, at 5pm EDT
You can also find updates in the discord channel
#join-szn3-vedao or our twitter https://twitter.com/nowdaoit
Season 3 will run for one year and will end on May 1st, 2023. To maximize the yield we can create for HAUS LPs and for the SZN3 veDAO itself, BAL/WETH will be locked into veBAL and the HAUS/WETH BPTs will be staked into the gauge for the full year.
At the end of the year, participants will be able to withdraw their share of the inputs as well as the rewards earned over that period.
Since contributors in SZN3 veDAO will only be receiving loot, UberHaus — as represented by a multisig of 11 delegates — will continue to be the only shareholder in the DAO. Those UberHaus delegates will be responsible for proposing, voting, and executing proposals inside of SZN3 veDAO.
To learn more about the veBAL program, you can read the detailed formal proposal on the Balancer forums.
🏰 Haus Out ✌
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