KVORUM
aaveSource: Aave governance v3 · #14

Treasury Management - GSM Funding & RWA Strategy Preparations (Part 1), Frontier Staking as a Service

executedFeb 4, 2024, 04:00 PM UTCby570x57ab…2922

01Summary

AISummary by Kvorumclaude-haiku-4-5

Aave DAO proposal to prepare for GHO Stability Module (GSM) launch and $1M Centrifuge RWA strategy by consolidating stablecoins (USDC, USDT, DAI) from Polygon to Ethereum, transferring 128 ETH to Frontier initiative, and revoking legacy token allowances.

Type
treasury allocation

Key changes

  • Withdraw all amUSDC and aPolUSDC from Polygon V2 and V3 and bridge to Ethereum(high)
  • Withdraw all amDAI from Polygon V2 and 1.0M amPolDAI from Polygon V3 and bridge to Ethereum(high)
  • Withdraw all amUSDT and aPolUSDT from Polygon V2 and V3 and bridge to Ethereum(high)
  • Withdraw 128 aWETH from Ethereum V2, convert to ETH, and transfer to Frontier initiative SAFE address 0xCDb4fA6ba08bF1FB7Aa9fDf6002E78EDc431a642(medium)
  • Revoke allowances for 16 legacy tokens across various spenders including aENS, aMANA, aUST, sUSD, aUSDC, aRAI, aZRX, aAMPL, aSUSD, TUSD, BUSD, aTUSD, aDPI, aFRAX, and aBUSD(low)

Notable concerns

  • Stablecoin consolidation to Ethereum depends on successful bridging from Polygon
  • Proposal is part of a multi-part series (Part 1), suggesting additional related proposals may follow
  • Legacy allowances being revoked included 174k and 196k aUSDC from previous CRV and BAL bonding curve deployments that cannot be claimed but appear available
ContractsAave V2 EthereumAave V3 PolygonAave Collector
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
Read the description ↗

02Description

490 words

Simple Summary

In preparation for launching the GHO Stability Module (GSM) and the $1M RWA strategy with Centirfuge, this publication seeks to make available the necessary amount of USDC, USDT and DAI on Ethereum.

Motivation

The GSM is expected to be available for deployment in the near future. The Centrifuge proposal is currently mid way through the review process. The current stable coin holdings on Ethereum are insufficient to support both the GSM, RWA strategy and Service Provider (SP) commitments. Additional funds are needed on Ethereum to support the GSM.

In addition to the above, this proposal also contains a small bit of house keeping that includes setting two legacy aUSDC Allowances to zero. Whilst the funds mentioned can not be claimed, they are currently showing as available when querying the Allowance (10.) balance.

The two allowances, 174k and 196k, are legacy from previous CRV and BAL bonding curve deployments respectively.

Specification

Part A of this proposal will perform the following:

  • Withdraw all amUSDC & aPolUSDC from Polygon V2 and V3
  • Withdraw all amDAI from Polygon V2
  • Withdraw 1.0M amPolDAI from Polygon V3
  • Withdraw all amUSDT & aPolUSDT from Polygon V2 and V3
  • Bridge all withdrawn assets to Ethereum

note When withdrawing all units from pools, in actuality, 10 units will be left as to not empty the pool.

  • Withdraw 128 aWETH from Ethereum V2
  • The received 128 wETH is to be withdrawn into ETH
  • Transfer the 128 ETH to SAFE address: 0xCDb4fA6ba08bF1FB7Aa9fDf6002E78EDc431a642 as part of the "Frontier" initiative. The snapshot for Frontier can be found here.

Revoke the following allowances for the Aave Collector on Mainnet:

IERC20Token.approve(spender, 0);

tokenspenderdescription
aENS0xa426759e433224c2b04f6619ab44217dad626c6eAave Collector Consolidation
aMANA0xa426759e433224C2b04f6619aB44217DaD626c6eAave Collector Consolidation
aUST0xa426759e433224c2b04f6619ab44217dad626c6eAave Collector Consolidation
sUSD0xa426759e433224c2b04f6619ab44217dad626c6eAave Collector Consolidation
aUSDC0x04f90d449d4f8316edd6ef4f963b657f8444a4caOne Way Bonding Curve
aRAI0xa426759e433224C2b04f6619aB44217DaD626c6eAave Collector Consolidation
aZRX0xa426759e433224C2b04f6619aB44217DaD626c6eAave Collector Consolidation
aAMPL0xa426759e433224C2b04f6619aB44217DaD626c6eAave Collector Consolidation
aSUSD0xa426759e433224C2b04f6619aB44217DaD626c6eAave Collector Consolidation
aUSDC0x46a1b7d4a2920270c7eb2c2db4df2259a109bcb4CRV Bad Debt Repayment
TUSD0xa426759e433224c2b04f6619ab44217dad626c6eAave Collector Consolidation
BUSD0xa426759e433224c2b04f6619ab44217dad626c6eAave Collector Consolidation
aTUSD0xa426759e433224C2b04f6619aB44217DaD626c6eAave Collector Consolidation
aDPI0xa426759e433224C2b04f6619aB44217DaD626c6eAave Collector Consolidation
aFRAX0xa426759e433224C2b04f6619aB44217DaD626c6eAave Collector Consolidation
aBUSD0xa426759e433224C2b04f6619aB44217DaD626c6eAave Collector Consolidation

References

Disclaimer

TokenLogic and karpatkey receive no compensation beyond Aave protocol for the creation of this proposal. TokenLogic and karpatkey are both delegates within the Aave ecosystem.

Copyright

Copyright and related rights waived via CC0.

03Mismatch analysis

AIMismatch analysis by Kvorumlow confidenceclaude-sonnet-5
Consistent

The decoded on-chain data contains only a single generic action: a call to execute() on a payload/executor contract address. This is the typical Aave governance pattern (as used by BGD Labs payloads) where all the granular logic described in the proposal — Polygon withdrawals, bridging to Ethereum, the aWETH withdrawal and ETH transfer to the Frontier SAFE, and the 16 legacy allowance revocations — is encoded inside the bytecode of the referenced payload contract (AaveV2Ethereum_TreasuryManagementGSMFundingRWAStrategyPreparationsPart1_20231229.sol) rather than being visible as discrete decoded arguments in this dataset. Because the calldata trace does not expose the individual sub-actions (amounts, token addresses, spender addresses, recipient address), it is not possible to directly verify or contradict the specific numeric and address claims made in the description (e.g., the 128 aWETH amount, the SAFE address, the 174k/196k allowance figures, or the full allowance revocation table). No mismatch can be identified from the available data, but the ability to confirm the description's accuracy is limited. Given the lack of granular calldata to cross-check against the detailed prose, confidence in this assessment is low, and no discrepancies are flagged since none can be substantiated from the decoded action provided.

Generated by Kvorum
model: claude-sonnet-5
provider: anthropic
profile: anthropic-strong-v1
prompt: v1.0
generated: 2mo ago
Review the decoded actions ↗

04Actions

1 total
#0fallback()chain 0x1
Target
0x7caa…37fb
Value
0 wei
Function
fallback()
Arguments
{}
Calldata

05Tally

Summed from votes

Voters0
VP participating0
Outcome (current)—
Current support—

06Voters

0 total

No votes recorded yet.

07Forum

No forum thread is confidently linked to this proposal.