KVORUM
aaveSource: Aave governance v3 · #259

February Funding Update - Part B

executedMar 4, 2025, 11:12 AM UTCby570x57ab…2922

01Summary

AISummary by Kvorumclaude-haiku-4-5

February Funding Update - Part B: Bridge assets from Polygon, Arbitrum, and Optimism to Ethereum; deposit assets into Aave V3 (ETH, GHO, USDS); burn 3M GHO from Prime instance; create allowances of 3M GHO aEthLidoGHO and 800 aEthWETH for Merit_Ahab Safe. Continues treasury rebalancing strategy from Part A.

Type
treasury allocation

Key changes

  • Bridge multiple assets (USDC.e, BAL, AAVE, WETH, DAI, CRV, wstETH, LUSD, and aTokens) from Polygon, Arbitrum, and Optimism to Ethereum mainnet(high)
  • Deposit bridged assets into Aave V3: all ETH into Core, 3M GHO into Prime, all USDS into Core(high)
  • Withdraw and burn 3M GHO from Prime instance previously minted via GhoDirectMinter Facilitator(high)
  • Create allowances for Merit_Ahab Safe: 3M GHO aEthLidoGHO and 800 aEthWETH(medium)
  • Continue reducing bridged USDC exposure in support of Native USDC adoption(medium)
  • Convert DAI to USDS as part of asset rebalancing(medium)
  • Prepare to unstake wstMATIC and transfer BAL and CRV to ALC(medium)

Notable concerns

  • Proposal is continuation of Part A; coordination required between multiple chain operations
  • 3M GHO burn represents significant stablecoin supply reduction
  • Multiple asset bridges across chains introduces execution complexity
ContractsAaveV3EthereumAaveV3PolygonAaveV3ArbitrumAaveV3OptimismAaveV3EthereumCoreAaveV3EthereumPrimeGhoDirectMinter
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
Read the description ↗

02Description

385 words

Simple Summary

This publication presents the February Funding Update - Part B, which consists of performing the following key activities:

  • Bridging funds to Ethereum;
  • Create Merit & Ahab Allowances;
  • Deposit previously swapped assets on Part A

Motivation

This proposal is a continuation of February Funding Update Part A and as part of our ongoing Treasury asset rebalancing strategy, this proposal when implemented will continue to:

  • Bridging assets from Polygon, Arbitrum and Optimism to Ethereum;
    • Continue reducing bridged USDC exposure in support of Native USDC adoption;
    • Convert DAI to USDS;
    • Prepare to unstake wstMATIC;
    • Transfer BAL and CRV to ALC.

Specification

Bridge Assets to Ethereum Mainnet

Withdraw from respective Aave Protocol and bridge the following assets to Ethereum mainnet.

Polygon v2 & PassivePolygon v3Arbitrum v3Optimism v3
amUSDC.e (All-100)aPolDAI (All-1)aArbLUSD (All-1)aOptLUSD (All-1)
amBAL (All-1)aPolWETH (All-1)aArbUSDC (All-100)aOptUSDC (All-100)
BAL (All)aPolBAL (All-1)aEthDai(All-1)
USDC.e (All)aPolUSDC.e (All-100)Dai(All)
AAVE (All)aPolAAVE (All-1)
amWETH (All-1)aPolstMATIC (All-1)
amDAI (All-1)aPolDPI (All-1)
wETH (All)aPolwstETH (All-1)
CRV (All)aPolCRV (All-1)
wstETH (All)

Deposit into Aave V3

InstanceAssetAmount
AaveV3EthereumCoreETHAll
AaveV3EthereumPrimeGHO3M
AaveV3EthereumCoreUSDSAll

Withdraw and burn 3M GHO on Prime instance

As per Chaos Labs' recommendation, withdraw and burn 3 Million GHO from Prime instance that had been previously been minted and supplied via the GhoDirectMinter Facilitator. Read more here.

Merit + Ahab Programs

Create allowances to the Merit_Ahab Safe, 3M GHO aEthLidoGHO and 800 aEthWETH from Aave v3 Prime and Core instances respectively:

SAFE: 0xdeadD8aB03075b7FBA81864202a2f59EE25B312b

References

Copyright

Copyright and related rights waived via CC0.

03Mismatch analysis

AIMismatch analysis by Kvorumlow confidenceclaude-sonnet-5
Consistent

placeholder

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
0x33c0…9396
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.