Funding Update (Part B)
01Summary
Proposal to consolidate DAO assets by transferring BAL and CRV tokens to the ALC SAFE, depositing ETH and DAI into Aave V3, migrating 640,000 USDC from Aave V2 to V3, and swapping various tokens (USDC and DPI) into GHO stablecoin to prepare for foreseeable DAO expenses.
- Type
- treasury allocation
Key changes
- Transfer all available BAL tokens from collector to ALC SAFE(medium)
- Transfer all available CRV tokens from collector to ALC SAFE(medium)
- Deposit all ETH from collector into WETH and deposit into Aave V3 Ethereum(medium)
- Deposit all DAI from collector into Aave V3 Ethereum(medium)
- Withdraw 640,000 USDC aToken from Aave V2 Ethereum and swap into GHO(high)
- Swap all available DPI tokens into GHO(medium)
- Consolidate smaller DAO holdings into GHO stablecoin(high)
Notable concerns
- Migration of assets from Aave V2 to V3 represents protocol version change
- Previous attempt to swap DPI failed due to slippage constraints
- Proposal is continuation of governance proposal 44 executed in March 2024
Generated by Kvorum
02Description
Simple Summary
This publication mainly proposes consolidating DAO assets in preparation of foreseeable DAO expenses. It is a continuation of governance proposal 44 which was executed in early March of 2024.
Motivation
This proposal combined with the previously executed one aim 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
- Transfer BAL and CRV to the ALC SAFE
Specification
- Transer all available BAL in the collector to the ALC SAFE
- Transer all available CRV in the collector to the ALC SAFE
- Deposit all existing ETH in the collector into WETH, and deposit into Aave V3 Ethereum
- Deposit all DAI in the collector into Aave V3 Ethereum
- Withdraw 640,000 USDC aToken from Aave V2 Ethereum
- Swap withdrawn 640,000 USDC into GHO
- Swap all available DPI in the collector into GHO (previously a failed swap because of slippage)
References
- Implementation: AaveV3Ethereum
- Tests: AaveV3Ethereum
- Snapshot
- Discussion
Copyright
Copyright and related rights waived via CC0.
03Mismatch analysis
The proposal follows the standard Aave governance v3 pattern: a single on-chain action that calls execute() on a dedicated payload contract, which internally performs all the granular operations (BAL/CRV transfers to ALC SAFE, WETH deposit, DAI deposit, USDC withdrawal/swap, DPI swap) described in the prose. The decoded calldata only exposes this single wrapper call and does not unpack the internal delegatecall logic, so it is not possible to directly verify each specific sub-action (amounts, token addresses, recipient) against the calldata itself. This is expected and consistent with how Aave's governance payloads are structured — the implementation link provided in the References section corresponds to the payload contract that would contain the detailed logic. Because the decoded action set gives no basis to flag any specific numeric or target mismatch, and the single execute() call is fully consistent with the proposal's described intent (consolidating assets, migrating Aave v2->v3, transfers to ALC SAFE), I do not find any discrepancy at the level visible in this data. However, since the calldata is opaque (only a fallback/execute() call) and doesn't allow verification of individual amounts or destinations, confidence in a granular comparison is low, and this is reported as such rather than raising unfounded warnings.
Generated by Kvorum
04Actions
- Target
- 0xde40…12be
- 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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