KVORUM
aaveSource: Aave governance v3 · #146

May Funding Update

executedAug 11, 2024, 10:39 AM UTCby570x57ab…2922

01Summary

AISummary by Kvorumclaude-haiku-4-5

May funding update proposal to consolidate DAO holdings by migrating assets from Aave v2 to v3 across Ethereum and Polygon, consolidating funds into GHO, and funding the Frontier initiative with approximately 2,493 ETH deployed across Stader, RocketPool, and StakeWise.

Type
treasury allocation

Key changes

  • Migrate aEthDAI, aDAI, aEthLUSD, aEthPYUSD, aUSDC, DPI, aEthUSDT, and aEthUSDC from Aave v2 to v3 or swap to GHO on Ethereum(high)
  • Migrate awETH from Ethereum v2 to v3(medium)
  • Migrate amUSDT, amwETH, and amDAI from Polygon v2 to v3(medium)
  • Transfer USDC.e and aave-wrapped USDC from Polygon, Arbitrum, and Optimism to Ethereum(medium)
  • Unstake all rETH via Cowswap and 350 wstETH via Lido to obtain ETH for Frontier funding(high)
  • Deploy 248 ETH to Stader, 2,085 ETH to RocketPool, and 160 ETH to StakeWise through Frontier SAFE allowance(high)
  • Deposit LINK into Ethereum v3(low)

Notable concerns

  • Large-scale asset migrations across multiple chains and protocols
  • Liquidity management during multiple swaps and transfers
  • Reliance on external protocols (Cowswap, Lido) for asset conversions
  • Residual ETH handling after Frontier allocation
ContractsAaveV3EthereumAaveV3PolygonAaveV3OptimismAaveV3Arbitrum0x464C71f6c2F760DdA6093dCB91C24c39e5d6e18c
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
Read the description ↗

02Description

411 words

Simple Summary

This proposal presents May’s funding update, including the following key activities:

  • Migrating holdings from v2 to v3 (Polygon and Ethereum)
  • Extending the DAO’s GHO runway to cover upcoming expenses
  • Create Allowances for Frontier Program funding

Motivation

This proposal seeks to enhance the financial sustainability of the DAO and will follow the Direct-To-AIP as outlined in this proposal.

Specification

Consolidate GHO Funding and Migrate funds from V2 to V3

Perform the following Swaps and migration of assets from Aave v2 to v3. Assets are to be swapped for GHO.

Withdraw & Swap to GHOMigrate Eth v2 to v3Migrate Pol v2 to v3
aEthDAI (All-1)awETH (All-1)amUSDT (All-1)
aDAI (All-1)amwETH (All-1)
aEthLUSD (All-1)amDAI (All-1)
aEthPYUSD (All-1)
aUSDC (All-1)
DPI (All)
aEthUSDT (2M)
aEthUSDC (1.5M)

Transfer the following assets to Ethereum.

PolygonArbitrumOptimism
USDC.e (All)USDC.e (All)USDC.e (All)
aPolUSDC (All-1)aArbUSDC (All-1)aOptUSDC (All-1)
amUSDC (All-1)

Deposit the following small holdings into the respective v3 deployment:

Deposit into Eth v3
LINK

Frontier Funding

The following LSTs are to be unstaked for ETH in order to fund the Frontier initiative.

Unwrap AssetQuantityMethodology
rETHAllCowswap
wstETH350Use Lido

Note that Cowswap solvers will use the underlying rETH redemptions mechanisms if required.

A description of how the ETH is to be deployed has been outlined by ACI here.

Quantity DeployedProvider
248 ETHStader
2,085 ETHRocketPool
160 ETHStakeWise

The Frontier SAFE 0xCDb4fA6ba08bF1FB7Aa9fDf6002E78EDc431a642 will be able to use the allowance function on 0x464C71f6c2F760DdA6093dCB91C24c39e5d6e18c to claim the equivalent to 2,493 ETH.

Any residual ETH will be deposited into Aave v3.

References

Copyright

Copyright and related rights waived via CC0.

03Mismatch analysis

AIMismatch analysis by Kvorumlow confidenceclaude-sonnet-5
Consistent

The proposal follows Aave's standard governance pattern: the on-chain action list contains a single generic execute() call to a payload contract deployed specifically for this proposal (address 0x2875...f13d9). This payload contract, per the linked GitHub implementation and test files, is expected to contain the actual multi-step logic — withdrawals, swaps to GHO, v2-to-v3 migrations across Ethereum/Polygon/Arbitrum/Optimism, cross-chain transfers, LST unstaking, and the Frontier SAFE allowance grant — as described in the prose. However, the decoded calldata provided here does not expose the internal calls of that payload contract; it only shows the outer execute() invocation. This means I cannot verify at the calldata level whether amounts, target addresses (e.g., the specific allowance contract 0x464C71f6c2F760DdA6093dCB91C24c39e5d6e18c or the Frontier SAFE), or asset lists precisely match the prose. There is no evidence of any mismatch, redirection of funds, or hidden action — the single action is consistent with a legitimate, well-documented Aave funding-update payload, and the description is detailed and links to source code and tests for verification. Given the inability to independently decode the payload's internal logic from the data provided, confidence in a detailed line-by-line match is necessarily low, though nothing here suggests a discrepancy.

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
0x2875…13d9
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.