Treasury Management - Polygon v2 to v3 Migration
01Summary
This proposal migrates Aave DAO's treasury assets on Polygon from Aave v2 to v3 by redeeming aTokens from v2 and depositing the underlying assets into v3, improving capital efficiency and yield generation. The migration includes approximately 3.78M USDC, 3.38M DAI, 1.38M USDT, and smaller quantities of other tokens.
- Type
- protocol addition
Key changes
- Redeem aTokens from Aave v2 Polygon(high)
- Deposit underlying assets into Aave v3 Polygon(high)
- Migrate treasury holdings from v2 to v3 for improved capital efficiency(high)
- Consolidate unproductive treasury allocations into v3(medium)
Notable concerns
- Asset quantities specified may change between proposal submission and execution
- Migration involves multiple token types across the Polygon treasury
Generated by Kvorum
02Description
Summary
This AIP shall redeem aTokens from Aave v2 Polygon and deposit the underlying assets into Aave v3 Polygon.
Motivation
On Polygon, Aave DAO is currently holding funds on the Aave v2 deployment and also some small unproductive allocations within the Treasury. This AIP will improve DAOs Treasury performance by improving the overall capital efficiency and yield being generated.
As part of broader v2 to v3 migration effort, this AIP shall implement the following:
-
Redeem Assets from Aave v2
-
Deposit Assets from Aave v2 into v3
-
Deposit Assets held in Treasury into Aave v3
For reference, the Aave Polygon Treasury: 0xe8599F3cc5D38a9aD6F3684cd5CEa72f10Dbc383
Specification
Transfer the following assets from Aave v2 to v3. The quantities in this table will change over time between proposal submission & proposal execution, and should not be taken as exact.
| Network | Instance | Token | Quantity |
|---|---|---|---|
| Polygon | Aave V2 | AMUSDC | 3,775,623.68 |
| Polygon | Aave V2 | AMDAI | 3,380,138.80 |
| Polygon | Aave V2 | AMUSDT | 1,379,093.97 |
| Polygon | Aave V2 | AMWETH | 230.91 |
| Polygon | Aave V2 | AMWMATIC | 106,528.66 |
| Polygon | Aave V2 | AMBAL | 1,336.76 |
| Polygon | Aave V2 | AMCRV | 9,404.00 |
| Polygon | Aave V2 | AMWBTC | 0.09 |
| Polygon | Aave V2 | AMGHST | 1,918.59 |
| Polygon | Aave V2 | AMLINK | 33.56 |
Implementation
A list of relevant links like for this proposal:
The proposal Payload was reviewed by Bored Ghost Developing.
Disclaimer
TokenLogic receives no payment from Aave DAO or any external source for the creation of this proposal. TokenLogic is a delegate within the Aave ecosystem.
Copyright
Copyright and related rights waived via CC0.
03Mismatch analysis
The decoded calldata contains a single top-level action: an execute(address) call that triggers execution of a specific payload contract (0xC34A9391c08b64C4A9167D9e1E884B3735Ce21b0). This address exactly matches the 'Deployed Contracts' link provided in the proposal's Implementation section, which the proposer states contains the v2-to-v3 migration logic (redeem aTokens, deposit underlying into v3). Because Aave governance proposals commonly use this two-step pattern — an L1 governance action that triggers execution of a separately audited/reviewed payload contract containing the granular logic — the single decoded action is consistent with the proposal's stated intent. The specific redeem/deposit steps for each asset (AMUSDC, AMDAI, etc.) are not visible at this top level since they live inside the target payload contract's bytecode, which was not separately decoded here. I could not independently verify the internal logic of the target payload matches the specification table exactly, so confidence is medium rather than high. No value, target, or omission discrepancies are evident from the information available — the referenced payload address matches the proposal text precisely.
Generated by Kvorum
04Actions
- Target
- 0x158a…d45b
- Value
- 0 wei
- Function
- execute(address)
- Arguments
{ "0": "0xC34A9391c08b64C4A9167D9e1E884B3735Ce21b0" }- Calldata
05Tally
Summed from votes
06Voters
No votes recorded yet.
07Forum
No forum thread is confidently linked to this proposal.
08Similar proposals
- aaveexecutedTreasury Management - Polygon v2 to v3 Migration100%
- aaveexecutedTreasury Management - Polygon v2 to v3 Migration95%
- aaveexecutedTransfer Assets From Polygon To Ethereum Treasury83%
- aaveexecutedSeptember Funding Update - Part A81%
- aaveexecutedFunding Update78%
- aavecanceledAave Funding Updates78%
- aaveexecutedAave Funding Updates78%
- aaveexecutedTreasury Management - GSM Funding & RWA Strategy Preparations (Part 1), Frontier Staking as a Service76%
- aaveexecutedMay Funding Update Part B76%
- aaveexecutedAave Funding Updates (part 2)75%