Ooki DAO Governance: Sweep Fees, APE/ETH Pair, and Tally Integration!
Governance

Ooki DAO Governance: Sweep Fees, APE/ETH Pair, and Tally Integration!

Community Contributor
Community Contributor

There are two ongoing governance proposals proceeding through the governance process for Ooki DAO. The first is the DAO Vote to enable sweep fees and the second is adding APE/ETH trading pairs.

Enable Sweep Fees DAO Vote

The onchain vote to enable sweep fees has passed and has been executed. After this has been activated, users will be able to call the Sweep Fee function from the Ooki protocol smart contracts in order to claim staking rewards generated from platform fees. The vote successfully reached the quorum required and passed with a total of 127m votes.

APE/ETH Trading pairs

The second ongoing DAO proposal involves adding new trading and borrowing/lending pairs. This vote is currently ongoing. Reminder to vote on the proposal to add a new trading pair for APE/ETH. This proposal passed through the forum with overwhelming support, and so far has been unanimously supported through DAO voting.

If this passes, users will be able to margin trade APE/ETH pairs and borrow/lend with APE.

Where to Vote?

Ooki has completed integration of the DAO voting UI with Tally. Instead of using etherscan, as was the case with prior DAO proposals, OOKI stakers can now vote through the Tally UI here.

How to vote on Tally

Voting on Tally can be completed in a few easy steps. First visit the Ooki DAO Tally page and scroll to the proposals section. Select a proposal that is currently Active. Then click on the Vote button at the top of the proposal page and confirm the transaction with Metamask.

First contract call to sweep fees

The Ooki protocol has completed successful call of the sweep fees function for the first time following the passage of the onchain vote. The transactions are as follows:

BSC sending fees to Polygon

https://www.bscscan.com/tx/0x7f629b2dfd630723cf9c92c18c6ec8f0039a1a3121d5118a269922f3a7821cfa

Arbitrum sending fees to Polygon

https://arbiscan.io/tx/0x01a362b1cfbdfffb4d51b55ab93308daeb8420aeb65541de22c90f42e2d197d0

Polygon sending 70% to ethereum and 30% to buyback

Awaiting Execution.

How to call sweep fees

There are no restrictions on minimum fee accrual as well as incentive for calling on Ethereum. Here are the list of contracts which can be used to call sweep fees:

BSC sweep fees: 0xC9726942C732fa048dC56f0DeBea7fB2c596bA8C

Polygon sweep fees: 0x8c02eDeE0c759df83e31861d11E6918Dd93427d2

Arbitrum sweep fees: 0xcbDE8C5603D4bA855a162A450B1d054A02D8448f

Ethereum receiver/converter: 0xcbDE8C5603D4bA855a162A450B1d054A02D8448f

Ethereum sweep fees: 0xfFB328AD3b727830F9482845A4737AfDDDe85554

The process for calling the function remains the same: Call sweepFees() or sweepFeesByAsset(address[]).

In order to call the function there is a minimum amount of fees that must be reached. The minimum amount is the following: BSC and Arbitrum $1, Polygon $1,428 , and Ethereum $0

About Ooki Protocol

Ooki is a protocol for margin trading, borrowing, lending and staking enabling the building of Decentralized Applications for lenders, borrowers, and traders to interact with the most flexible decentralized finance protocol on multiple blockchains. Ooki is a fully decentralized, community-run DAO, governed by the community vote for all major changes to the protocol. Ooki users can engage in margin trading with up to 15x leverage using a fully decentralized trading platform.