Vote 018B: Whitelist 3CRV Convex strategy for use in Gro protocol

Background and summary

• Gro DAO whitelisted 6 strategies in May 2022 for Gro protocol to use
• Proposal for the DAO to whitelist further strategies
• Protocol funds will continue to be allocated in accordance with the existing framework of (1) pool depth and (2) yield, as set out in the Gro protocol docs

Vote 018B: Whitelist 3CRV Convex strategy for use in Gro protocol

Gro protocol has been primarily designed to use Convex pool strategies following Gro DAO Vote 009.

Proposal that Gro DAO approves 3CRV Convex strategy for use in Gro protocol with (1) a maximum Vault exposure of 50% and (2) a stop-loss in place in case of significant de-peg

More information on 3CRV

• Created by Curve and with the same inherent risks as any of the existing 3CRV strategies, minus the risk of the additional ‘exotic’ stablecoin
• Curve has been live for 30 months with a DeFi Safety score of 93% and TVL of $5.94bn
• Link to pool: Curve.fi (pool depth: $1bn as at 25th July)
• Current Convex yield 1.22% (as at 25th July)

Voting process

FOR: Approve the strategy for whitelist on Gro protocol AGAINST: Do not approve the strategy for whitelist on Gro protocol ABSTAIN: No opinion on approving this strategy for whitelist on Gro protocol

Next steps

This vote will run for 3 days.

Each strategy that receives majority approval (ignoring abstain votes) will be added to the protocol whitelist, meaning there is DAO authority to allocate protocol funds (within the maximum Vault exposures).

Future strategies can be suggested and voted on by the DAO, and at any time community members can also propose a removal of a strategy from the current whitelist.