Funding Update
Funding Update
Author
karpatkey_TokenLogic
Creator
0x57ab7ee15cE5ECacB1aB84EE42D5A9d0d8112922
Simple Summary
This publication mainly proposes consolidating DAO assets in preparation of foreseeable DAO expenses. There are additional small treasury management actions included in this proposal for house-keeping.
Motivation
In preparation for the upcoming launch of the Merit program and the expected renewal of DAO service providers, this proposal intends to:
- Consolidate the DAOs smaller holdings to GHO
- Swap larger stablecoins holdings for GHO
- Replenish the stablecoins Reserves in Aave v3
- Migrate funds from Aave v2 to v3
- Bridge funds from Polygon to Mainnet
To reduce governance burden, this proposal also includes withdrawing BAL and CRV from mainnet Aave v3 and v2, as well as withdrawing and bridging them from Polygon Aave v3 to Ethereum. All the BAL and CRV included in this proposal will then be transferred to the Aave Liquidity Committee (ALC) for its future allocation on behalf of the DAO.
Specification
This is Part 1 of the specified proposal and it will do as follows:
| Withdraw & Swap to GHO | Migrate ETH v2 to v3 | Polygon to ETH |
|---|---|---|
| aEthLUSD (All-1) | awBTC (All-1) | aPolwETH (All-1) |
| aEthUSDC (1.25M) | awETH (All-1) | aPolDAI (All-1) |
| aEthUSDT (1.5M) | aUSDC (300k) | aPolBAL (All-1) |
| LUSD (All) | aPolCRV (All-1) | |
| aLUSD (All-1) | ||
| aUSDT (200k) | ||
| aDAI (All-1) | ||
| aDPI (All-1) | ||
| aFRAX (All-1) |
Note
The forum post specified withdrawing TUSD and BUSD but these will be kept in order to help the offboarding of the two tokens in case of bad debt. The forum post also asks to withdraw all from Aave V2 AMPL, but the pool has no liquidity available.
Withdraw aCRV, aEthCRV, aBAL and aEthBAL and transfer BAL and CRV to ALC SAFE.
References
- Implementation: AaveV3Ethereum, AaveV3Polygon
- Tests: AaveV3Ethereum, AaveV3Polygon
- Snapshot
- Discussion
Copyright
Copyright and related rights waived via CC0.