Ribbon Governance Proposal 1
2 min readJun 3, 2021
The Ribbon team proposed the first Ribbon Governance Proposal (RGP) on May 31st — a proposal to change the way exit fees in the Ribbon Vaults are handled. Read the full proposal here.
Vote Outcome
Over the course of 3 days, the RBN token holders voted on the proposal through a Snapshot vote.
Some statistics about the vote:
- Over 37% of the RBN circulating supply voted in this proposal
- Over 98% of RBN voted for the proposal
- Over 360 addresses participated in the vote
Proposal Execution
The team has executed the actions outlined in the proposal, and the proposal is officially in full-effect right now. These are the transactions that were executed:
- Update the ETH Theta Vault with new feeRecipient
- Update the WBTC Theta Vault with new feeRecipient
- Update the ETH Put Selling Vault with new feeRecipient
- Transfer all WETH balance from current feeRecipient into ETH Theta Vault
- Transfer all WBTC balance from current feeRecipient into WBTC Theta Vault
- Transfer all USDC balance from current feeRecipient into ETH Put Selling Vault
