Funding Update
01Summary
This proposal consolidates DAO assets by swapping smaller holdings and stablecoins to GHO, migrating assets from Aave v2 to v3, and bridging funds from Polygon to Ethereum in preparation for the Merit program launch and DAO service provider renewal. BAL and CRV tokens are being withdrawn and transferred to the Aave Liquidity Committee for future allocation.
- Type
- treasury allocation
Key changes
- Consolidate smaller holdings to GHO to prepare for upcoming Merit program launch and DAO service provider renewal(high)
- Swap USDC (1.25M), USDT (1.5M), and other stablecoins for GHO(high)
- Migrate assets from Aave v2 to v3 including wBTC, wETH, and USDC (300k)(high)
- Bridge funds from Polygon to Ethereum including aPolwETH, aPolDAI, aPolBAL, and aPolCRV(high)
- Withdraw and transfer BAL and CRV tokens to Aave Liquidity Committee for future allocation(medium)
- Replenish stablecoins Reserves in Aave v3(medium)
Notable concerns
- TUSD and BUSD will be retained instead of withdrawn to assist with token offboarding in case of bad debt
- Aave v2 AMPL withdrawal was not executed due to lack of pool liquidity
Generated by Kvorum
02Description
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.
03Mismatch analysis
The proposal description lays out a detailed, multi-step treasury consolidation plan (withdrawals to GHO, v2->v3 migration, Polygon->Ethereum bridging, BAL/CRV consolidation to the ALC Safe) with specific token amounts. However, the decoded on-chain action set contains only a single generic 'execute()' call to a payload contract address (0xe94d276b...), which is the standard Aave Governance V3 execution pattern: the actual granular logic (withdrawals, swaps, transfers, bridging) is encoded inside the bytecode of that payload contract rather than exposed as decoded calldata arguments here. Because of this, none of the individual claims in the description (specific token amounts, destination addresses, bridging calls) can be independently verified or falsified against the calldata provided — there is simply no decoded detail to compare. This is a known limitation of how Aave AIP-style proposals are structured (one 'execute' call delegating to a payload contract whose source is linked in the References section), not evidence of a mismatch. Given the linked implementation source matches the proposal's specification (same repo path and file name referencing this exact funding update), there is no visible sign of the calldata diverging from the description. However, since we cannot decode or confirm the sub-actions programmatically from the data given, confidence in this assessment is low rather than high, and no specific discrepancies can be responsibly flagged without speculation.
Generated by Kvorum
04Actions
- Target
- 0xe94d…7d2f
- Value
- 0 wei
- Function
- fallback()
- Arguments
{}- Calldata
05Tally
Summed from votes
06Voters
No votes recorded yet.
07Forum
No forum thread is confidently linked to this proposal.
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