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[BIP-748] Permissions Policy Update Request #5 (ETH Mainnet)

Voting ended over 1 year agoSucceeded

PR with payload

https://github.com/BalancerMaxis/multisig-ops/pull/1601

Abstract

This proposal seeks BalancerDAO's approval for updates, new actions, and strategies related to the permissions policy governing the karpatkey-managed treasury on Mainnet. These changes are part of a broader effort to optimise the treasury, with the goal of enhancing its performance, flexibility, and diversification.

The proposed new permissions focus on strategies involving Aave’s GHO, Sky’s USDS, Origin’s oETH, and Stakewise’s osETH.

Motivation

Effective treasury management strategies need to be adjusted based on market conditions and protocol updates, such as migrations and the introduction of new pools. Protocols and pools that were once considered immature and unsuitable for the BalancerDAO’s risk appetite can become more viable as they prove their reliability over time. This proposal aims to integrate these new strategies into the existing Permissions Policy.

Changes to the Permissions Policy

This proposal outlines the following modifications to the permissions policy:

  1. GHO Carry Trade
  • Deposit, sDAI, USDS,, wstETH, osETH and WBTC on Aave v3 and allow it to be used as collateral.
  • Borrow GHO
  • Stake GHO in the Staking Module on Aave v3
  • Claim AAVE rewards
  • Claim GHO Merit rewards
  • Swap GHO <> USDT, USDC, in Balancer.
  • Swap stkGHO-GHO in Cow and Maverick
  1. Sky’s USDS
  • Deposit and Withdraw USDS in Spark
  • Swap sUSDS <> USDS in Cow
  • Swap USDS for Stablecoins in Cow
  1. osETH in Stakewise v3
  • Stake (and unstake) ETH on Stakewise v3.
    • Through the Genesis Vault.
  1. oETH in Origin
  • Mint oETH in vault
  • Redeem WETH via ARM and vault
  • Swap oETH for ETH and LSTs (same policy as with other LSTs) in Cow
  • Back up swap permissions in Curve
  • Provide liquidity in oETH-ETH pool in Curve
  • Stake LP token in Curve and Convex
  • Claim rewards, unstake and withdraw oETH-ETH in Curve and Convex.

Zodiac Roles Modifier Permissions Policy

Permissions page:

https://roles.gnosisguild.org/permissions/eth/6WhgTGie6QoelTwqaE6z8h0MqZa6UOkyZcwJif5sig

Permissions diff page:

https://roles.gnosisguild.org/eth:0x13c61a25DB73e7a94a244bD2205aDba8b4a60F4a/roles/MANAGER/diff/6WhgTGie6QoelTwqaE6z8h0MqZa6UOkyZcwJif5sig

Off-Chain Vote

Yes, let's do it
2.56M veBAL88.9%
No, this is not the way
0 veBAL0%
Abstain
321.42K veBAL11.1%
Quorum:144%
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Discussion

Balancer[BIP-748] Permissions Policy Update Request #5 (ETH Mainnet)

Timeline

Dec 18, 2024Proposal created
Dec 19, 2024Proposal vote started
Dec 23, 2024Proposal vote ended
Nov 27, 2025Proposal updated