Return the EPCF and SVR Funds to Governance

Summary

This proposal directs the return of all EPCF assets and accumulated DAO-owned mainnet SVR revenue to the Governor Timelock. It also ends the EPCF mandate established by Proposal 535, including its authorization to acquire and delegate COMP.

The assets currently sit in Safes whose transfers require their owners’ signatures. This is an on-chain governance resolution: execution records the instruction and starts the deadlines below. It does not automatically transfer funds, change Safe owners or disable their signing authority.

Rationale

DAO reserves and protocol revenue should be held where their use requires governance approval. The EPCF and mainnet SVR Safes currently permit transfers without an independent owner’s signature when the two shared Foundation owner addresses sign.

Returning these assets restores governance control over their subsequent use. Governance remains free to approve a replacement emergency fund with defined powers, independent approval and reporting requirements.

Specification

Upon execution of this proposal:

1. End the EPCF mandate

Governance modifies the mandate established by Proposal 535 by bringing its end date forward to this proposal’s execution. The Foundation’s governance authorization to acquire COMP using EPCF assets or delegate EPCF-held COMP is withdrawn.

2. Return the EPCF assets within seven days

The owners of the EPCF Safe at 0xF9a83C051B6658077415Ef077Fe0732e4Ca46Ae4 shall return all EPCF assets, including supplied principal and accrued interest, to the Governor Timelock. They shall redeem supplied positions as necessary to return the underlying assets.

3. Return mainnet SVR funds within seven days

The owners of the mainnet SVR Safe at 0xd9496F2A3fd2a97d8A4531D92742F3C8F53183cB shall return all accumulated DAO-owned SVR revenue and other DAO-owned assets it holds to the Governor Timelock.

4. Preserve and report the assets

Until the transfers are complete, these assets shall not be spent, converted into COMP, delegated or otherwise deployed. Redemptions and other actions necessary to return them are permitted. Each return transaction shall be reported in the forum thread with its transaction hash.

5. Close the EPCF reporting

Within fourteen days of execution, the Foundation shall publish the closing report required under Proposal 535, accounting for the EPCF assets and all EPCF transactions.

Destination for both returns: Governor Timelock

0x6d903f6003cca6255D85CcA4D3B5E5146dC33925

This proposal covers the EPCF and mainnet SVR Safe. Its scope does not include L2 balances or other treasury Safes.

Execution and implementation

This proposal contains no substantive executable actions. Its purpose is to adopt the governance instructions set out above.

Execution starts the seven-day deadline for returning the assets and the fourteen-day deadline for the EPCF closing report. The relevant Safe owners must sign and execute the return transactions. Ending the EPCF mandate withdraws governance authorization; it does not change the Safes’ owners or signing authority.

Meaning of the vote

• FOR: Adopt the instructions above.
• AGAINST: Reject the instructions above.
• ABSTAIN: Take no position.

Forum discussion