BDI Rebalance #2: Proposals

Updated on June 15th for revote

Following our successful rebalance #1, rebalance #2 continues with more proposals for the community. Proposals are based on discussions from within the community.

Assuming smooth success this time as well, we will soon begin giving proposal powers to the community, to work towards our vision of a decentralised yield-bearing index.

What’s in this rebalance?

The Snapshot proposal combines the following items:

  • Reduce weight cap from 25% to 20%
  • Add ZRX to BDI as cZRX from Compound
  • Remove MTA from BDI
  • Remove FARM from BDI
  • Move YFI to v2 YFI yVault
  • Move UNI to v2 UNI yVault
  • Move SNX to v2 SNX yVault

If this vote is successful, the new index would look like this (subject to market caps observed on the days of rebalance):

Voting

Voting is done on Snapshot, there will be 7 proposals to vote on.

You can vote with the BASK in your wallets. If you have BASK staked in xBASK or BASK-ETH pools, the amount of equivalent BASK will be calculated and added to your voting power. Voting is free so you might as well 😏

Your voting power is snapshotted when voting begins and will remain unchanged for the duration of voting, meaning you can’t buy more BASK to gain more voting power once voting begins.

Treasury will not participate in voting, but devfund can.

Timeline

[NOW] Voting begins. The detailed proposal is published on Snapshot, rebalance #2 channel is created on our discord where discussions can take place. More BASK can be acquired to gain voting power before voting begins.

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[June 19th, UTC+2] Voting ends, verdicts are announced. There is a grace period of 1 day before implementation.

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[June 20th, UTC+2] BDI rebalancing begins. BasketDAO will implement the changes voted in by the community over the course of 7 days.

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