Transfer all CRV positions from Ethereum Mainnet Collector to GLC Safe
01Summary
Transfer approximately 6.11 million CRV tokens held in Aave's Mainnet treasury (from both V2 and V3 protocols) to the GHO Liquidity Committee SAFE, where they will be converted to staked CRV (sdCRV) to generate yield (20-42% APR) and support GHO liquidity while providing vote-boosted governance power.
- Type
- treasury allocation
Key changes
- Redeem aEthCRV (30,153.23 units) from Aave V3(medium)
- Redeem aCRV (6,052,066.53 units) from Aave V2(high)
- Transfer CRV (29,247.71 units) directly held by Aave to GLC SAFE(high)
- Convert all CRV to sdCRV through GHO Liquidity Committee(high)
- Enable sdCRV staking to generate 20-42% APR yield(high)
- Utilize vote-boosted sdCRV to enhance GHO liquidity support and governance power(medium)
Notable concerns
- Concentration of CRV holdings in single GLC SAFE entity
- Dependency on StakeDAO's sdCRV platform for yield generation and vote-boosting mechanisms
- APR range (20-42%) is variable and subject to market conditions
Generated by Kvorum
02Description
Simple Summary
Transfer all available CRV from Aave Mainnet Treasury to GHO Liquidity Committee (GLC) SAFE where it will be deployed to sdCRV.
Motivation
Upon implementation of this AIP, CRV will be withdrawn from Aave Protocol on Ethereum Mainnet (both V2 and V3) and all newly available CRV transferred to the GLC SAFE.
- aEthCRV - 30,153.23 units at time of writing
- aCRV - 6,052,066.53 units at time of writing
- CRV - 29,247.71 units
Total ~6,111,467.47 units of CRV
The GLC is expected to mint and stake sdCRV with the CRV. At the time of writing, staked sdCRV is generating between 20.35% and 41.85% APR.
The GLC is then expected to manage the sdCRV holdings to the benefit of the DAO with the primary focus of supporting GHO liquidity. The GLC is expected to make use of the vote-boosted sdCRV offering by StakeDAO. Details on vote-boosted sdCRV can be found here.
Specification
This proposal encompasses the following actions:
- Transfer aEthCRV (Aave V3) & aCRV (AaveV2) from Collector to Proposal Payload contract
- Withdraw aEthCRV (Aave V3) & aCRV (Aave V2) from Ethereum Mainnet on the Proposal Payload contract to GLC SAFE
- Transfer existing CRV position on Ethereum Mainnet to GLC SAFE
GLC SAFE Address: 0x205e795336610f5131Be52F09218AF19f0f3eC60
References
- Implementation: AaveV2Ethereum
- Tests: AaveV2Ethereum
- Snapshot
- Discussion
Copyright
Copyright and related rights waived via CC0.
03Mismatch analysis
The proposal description lists three concrete implementation steps (transfer aTokens to the payload contract, withdraw them to the GLC SAFE, and transfer the existing CRV position to the GLC SAFE), consistent with the referenced Solidity implementation file 'AaveV2Ethereum_RedeemCRVFromAaveV2EthereumAndTransferToGLC'. The single decoded on-chain action is a call to forwardPayloadForExecution, which is Aave's standard governance mechanism for deferring execution to a payload contract at a specific address (0xdAbad81aF85554E9ae636395611C58F7eC1aAEc5) - this address is consistent with a payload contract deployed specifically for this AIP, matching the referenced implementation contract in the description. Because the actual transfer/withdrawal logic lives inside that payload contract's bytecode (not exposed in this top-level decoded action), I cannot directly verify token amounts or destination addresses against the calldata at this level. However, this pattern (proposal action = forwardPayloadForExecution to a dedicated payload contract) is routine and expected for Aave governance proposals of this type, and the target payload address is unique to this proposal, supporting that it implements the described steps. No numeric mismatches, target mismatches, or omitted/extra actions are visible at the level of the decoded calldata provided. Given the indirection through the payload contract, confidence is medium rather than high, but there is no evidence of inconsistency between the description and what is actually decoded.
Generated by Kvorum
04Actions
- Target
- 0x9aee…2bc7
- Value
- 0 wei
- Function
- forwardPayloadForExecution((uint256,uint8,address,uint40))
- Arguments
{ "0": [ "1", "1", "0xdAbad81aF85554E9ae636395611C58F7eC1aAEc5", "38" ] }- Calldata
05Tally
Summed from votes
06Voters
| Voter | Choice | % of total | Rationale | ||
|---|---|---|---|---|---|
| 570x57ab…2922 | For | 144.3K | 0.00% | — | 3y ago |
| 320x329c…3ed4 | For | 103.1K | 0.00% | — | 3y ago |
| 130x13bd…8548 | For | 60K | 0.00% | — | 3y ago |
| 230x2331…7e73 | For | 60K | 0.00% | — | 3y ago |
| 2C0x2cc1…4df1 | For | 43.7K | 0.00% | — | 3y ago |
| B90xb933…8dd1 | For | 42.6K | 0.00% | — | 3y ago |
| EZezr3al.eth0x8659…7d0e | For | 38.1K | 0.00% | — | 3y ago |
| 870x8787…ea52 | For | 21.2K | 0.00% | — | 3y ago |
| E40xe459…e666 | For | 20K | 0.00% | — | 3y ago |
| 180x1855…98ba | For | 3.6K | 0.00% | — | 3y ago |
| EA0xea17…6676 | For | 38.6 | 0.00% | — | 3y ago |
| 1E0x1e27…95e0 | For | 1.1 | 0.00% | — | 3y ago |
| 570x5762…a752 | For | 1 | 0.00% | — | 3y ago |
07Forum
No forum thread is confidently linked to this proposal.
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