If the community votes against this proposal (option b, Against) , bZ’s proposal will shall be immediately posted to Snapshot.
AIP-20: Execute AIP-19 Staking and Liquidity Stage 1
- Summary
AIP-19 passed in November 2025. The staking slice was never executed. This proposal executes that slice and adds a first liquidity position. Thirty percent of treasury ETH, about 60 ETH, is staked with Lido as wstETH. No leverage. No restaking. Rewards go to the Perpetual Fund and are not spent until holders have voted on an updated mission. About 10 ETH, plus JUSTICE the treasury already holds, is added as a 50/50 full-range position in the existing JUSTICE/WETH pool. The rest of the treasury, including Clock, stays in the Safe.
- Motivation
Holders approved a 30% stake a year ago. It has not been done. A first liquidity position is a smaller, separate step, so JUSTICE can be bought and sold in the existing pool. Larger decisions wait until there is data.
- Proposal Details
3.1 Stake
Thirty percent of treasury ETH, about 60 ETH, is staked with Lido as wstETH. No leverage. No restaking. All rewards go to the Perpetual Fund. Rewards are not spent until holders have voted on the updated mission. The liquidity below comes only from unstaked ETH. 30% is measured on the Safe’s ETH balance when the vote closes. Rewards are the increase in the stETH value of the wstETH held over the amount staked. They stay in the wstETH and are reported quarterly until holders vote to spend them.
3.2 Liquidity stage 1
About 10 ETH, plus the treasury’s own JUSTICE, is added as a 50/50 full-range position in the existing JUSTICE/WETH 1% Uniswap v3 pool, 0xfe7aff6f4f1b0d9f65767e96573e6df8b1ff5920. The Safe holds the position directly. The 10 ETH cap includes any ETH used to buy JUSTICE. The liquidity is drawn from AIP-19’s ecosystem allocation. AIP-19’s other allocations are not executed here and will be decided in a later vote.
JUSTICE is bought through a CoW Swap TWAP order, in equal daily parts, over at least 14 days. Each part has a hard maximum price: the lower of 115% of the volume-weighted average price of all trades in the pool over the 7 days before the vote closes, calculated from on-chain swaps and published with the order, and 4 times the treasury’s ETH per JUSTICE. That figure is ETH and staked ETH held by the Safe, divided by total JUSTICE supply. Both price limits are measured when the vote closes. Parts that cannot fill at that price expire, and the ETH stays in the Safe.
The treasury’s own JUSTICE, and matching ETH, go in straight away. Purchased JUSTICE and its matching ETH are added once, when buying ends. If purchases fall short, the position stays at whatever is balanced. This vote also authorises the one-off Safe setting the order needs, for this purpose only. The Safe’s fallback handler is restored to the current one when buying ends.
3.3 Report
A public report each week, posted on the forum by Gabriel or a volunteer, compared with the 30 and 90 days before 5 October: price impact for 0.5, 1 and 2 ETH trades in each direction, median daily volume, and distinct trading addresses that week, all excluding the treasury’s own trades. Also JUSTICE bought and the average price, fees, and value compared with simply holding.
3.4 Withdrawal
Signers may withdraw the position early only for a security risk, and must report it within 24 hours. No top-ups, range changes, or re-entry without a vote.
3.5 Risks
The ETH value of staked funds moves with ETH. Lido carries smart-contract risk. The liquidity position loses value against simply holding if the price moves, and holds mostly JUSTICE if the price falls.
- Voting Options
A. For
B. Against
C. Abstain
5% quorum (AIP-9), simple majority.
- Implementation
Uploaded to Snapshot at 00:00 UTC on Thursday 8 October 2026. Voting opens at 00:00 UTC on Friday 9 October and closes at 00:00 UTC on Sunday 11 October. One-day delay, two-day vote. $JUSTICE-weighted. If it passes, signers begin execution within 72 hours, as AIP-15 requires. Staking first, then the position. After six weekly reports, a separate Snapshot vote may consider a second 10 ETH under the same rules.
中文
AIP-20：执行 AIP-19 的质押与流动性第一阶段
- 摘要
AIP-19 于 2025 年 11 月通过。其中的质押部分至今未执行。本提案执行该质押，并增加第一笔流动性。国库 ETH 的 30%，约 60 ETH，通过 Lido 质押为 wstETH。不加杠杆，不再质押。收益进入永续基金，在持币人就更新后的使命投票之前不予支出。约 10 ETH，加上国库已有的 JUSTICE，在现有 JUSTICE/WETH 池中建立 50/50 全区间仓位。国库其余资产，包括 Clock，留在 Safe。
- 动机
持币人一年前已批准 30% 的质押，却尚未执行。第一笔流动性是另一件更小的事，使 JUSTICE 可以在现有池中买卖。更大的决定等待有数据之后。
- 提案细节
3.1 质押
国库 ETH 的 30%，约 60 ETH，通过 Lido 质押为 wstETH。不加杠杆，不再质押。全部收益进入永续基金。在持币人就更新后的使命投票之前，收益不予支出。以下流动性仅来自未质押的 ETH。30% 按投票结束时 Safe 的 ETH 余额计算。收益是所持 wstETH 的 stETH 价值相对于质押金额的增加。收益留在 wstETH 中，按季度报告，直至持币人投票决定支出。
3.2 流动性第一阶段
约 10 ETH，加上国库已有的 JUSTICE，在现有 JUSTICE/WETH 1% Uniswap v3 池（0xfe7aff6f4f1b0d9f65767e96573e6df8b1ff5920）中建立 50/50 全区间仓位，由 Safe 直接持有。10 ETH 上限包括买入 JUSTICE 所用的 ETH。该流动性来自 AIP-19 的生态额度。AIP-19 的其他额度本次不执行，留待后续表决。
JUSTICE 通过 CoW Swap TWAP 订单买入，每日等额，至少 14 天。每一批设硬性最高价格，取以下两者中较低者：投票结束前 7 天池中全部交易的成交量加权平均价格的 115%（根据链上交易计算，并随订单公布），以及国库每枚 JUSTICE 对应 ETH 价值的 4 倍。该价值为 Safe 持有的 ETH 与已质押 ETH 之和，除以 JUSTICE 总供应量。两个价格上限均在投票结束时测定。无法在该价格成交的批次自动失效，ETH 留在 Safe。
国库自有的 JUSTICE 及等值 ETH 立即投入。买入的 JUSTICE 及等值 ETH 在买入结束时一次性加入。如买入不足，仓位按已平衡的部分保持。本投票同时授权该订单所需的一次性 Safe 设置变更，仅限此用途。买入结束时，Safe 的 fallback handler 恢复为当前设置。
3.3 报告
每周在论坛公开发布报告，由 Gabriel 或一名志愿者撰写，并与 10 月 5 日前 30 天和 90 天对比：双向 0.5、1、2 ETH 交易的价格冲击，日交易量中位数，每周独立交易地址数，均不计入国库自身的交易。另公布已买入的 JUSTICE 数量及平均价格、手续费，以及与单纯持有相比的价值变化。
3.4 撤出
多签人只有在出现安全风险时才可提前撤出，并须在 24 小时内报告。未经投票，不得追加、调整区间或重新加入。
3.5 风险
已质押资金的 ETH 价值随 ETH 价格波动。Lido 存在智能合约风险。若价格变动，流动性仓位相对于单纯持有会损失价值；若价格下跌，仓位将主要持有 JUSTICE。
- 表决选项
A. 赞成
B. 反对
C. 弃权
5% 法定人数（AIP-9），简单多数。
- 执行
2026 年 10 月 8 日周四 UTC 00:00 上传至 Snapshot。投票于 10 月 9 日周五 UTC 00:00 开始，10 月 11 日周日 UTC 00:00 结束。延迟 1 天，投票 2 天。$JUSTICE 加权。如获通过，多签人按 AIP-15 的要求在 72 小时内开始执行。先质押，再建仓。六份周报之后，可另起一次 Snapshot 投票，按相同规则考虑追加第二批 10 ETH。