[AGIP24] Deposit 3M Treasury GHST into Aave

Author: Dr Wagmi#6629 GotchiID: 16635 Quorum requirement: 20% (9M) Vote duration: 7 days XP Reward: 20 XP for each Aavegotchi in the voter’s wallet Discourse Thread: https://dao.aavegotchi.com/t/deposit-3-000-000-ghst-from-the-dao-treasury-into-aave/3007

Alongside the DAO Treasury Taask Force (DTF), I propose that we immediately take advantage of the Aave GHST listing by depositing ~80% of our DAO Treasury GHST (3,000,000 GHST) into Aave as collateral to earn passive yield. The current utilisation rate is at 45% with a deposit APR ~2.5%. Given the significant yield and quickly growing utility of the GHST token, we anticipate ongoing borrowing demand, and, thus, yield for GHST depositors and the DAO Treasury. The Aavegotchi DAO can demonstrate its dexterity, effectiveness, and impressive treasury by quickly capitalizing on this passive yield opportunity. This would speak volumes to the broader DeFi and crypto community and immediately provide additional value to GHST token holders through increased borrowing capacity in the Aave pool.

An initial deposit of 3,000,000 GHST would represent approximately 80% of the DAO Treasury GHST. This deposit is completely liquid and could be withdrawn if the DAO designates other uses. A 3% APR is nearly $90,000 which can be used to further invest in the Aavegotchi ecosystem through DAO initiatives. A separate proposal can be considered for the additional 20% and for the 2.4M DAI in the treasury. We do not propose that the received amGHST from this proposed initial deposit be staked for FRENS. This proposal is not requesting DTF multi-sig control over this deposit or the ongoing management.

-Dr Wagmi

Option 1: Yes, deposit 3M GHST Option 2: No, keep GHST in the Treasury Option 3: Abstain