[ABIP-06] - Whitelist assets for treasury

Summary

Treasury team would like to propose a framework where in up to 75% of the current treasury be used for acquiring productive & backing assets that can provide liquidity for ABI.

Abstract

This proposal seeks to do two things:

Provide a framework for whitelisted reserve assets Allow treasury team to add to the treasury these assets via bonding, or rebalancing assets. Proposed Reserve assets : ETH, BTC, DAI, USDT, USDC, MUSD

Proposed revenue based assets: BTRFLY, MTA, CRV, CVX, LINK, MATIC, OHM

All other assets if acquired will be sold into reserve assets. For example we earn BAL, IMX and other tokens with yields.

Motivation After discussion with many stakeholders based on ABIP-04. The team has decided to put in place a whitelist of assets and better accountability of what can and cannot be added.

As a general framework, the assets to acquire must possess the following properties:

Provide deep liquidity or base asset pair (e.g. btc/eth/gOHM) Provide revenue to the treasury (CRV, CVX, OHM, BTRFLY) Be needed for operations (e.g. LINK, Matic) Reserve Assets: 75% of the treasury must always consist of the proposed reserve assets. 25% of those reserve assets must always be in Stables.

Revenue Assets: A maximum exposure of 2.5% of the total treasury value per asset.

e.g. if Treasury is $100 we can only acquire $2.5 worth of btrfly max.

Acquisition of Reserve & Revenue Assets

Reserve assets will be offered via bonds and re balancing the treasury. The assets if acquired via rebalancing will be acquired before any announcement is made to prevent front-running.

Any new rebalancing, bonds or market buys will require both the treasury and policy teams to agree.