[COMPOUND] Treasury to Invest 5% of COMP holdings into goldCOMP Vault

The goldCOMP DeFi vault (https://humpysgold.eth.limo/#/vaults/comp) created by the Golden Boys is an exciting new strategy designed to provide COMP holders yields on their COMP tokens. When a user places COMP into the goldCOMP vault, the depositor receives goldCOMP, a semi-liquid wrapped token representing their initial deposit. These goldCOMP tokens can be placed in a 99/1 Balancer pool to earn yields averaging 10% annually, creating a passive income stream for COMP holders who plan to hold COMP for a long period of time. The depositor’s goldCOMP can be burnt to receive the initial COMP during regular withdrawal windows with no risk of slashing or penalty. GoldCOMP is an exciting investment opportunity for any COMP holder, aimed to enrich the Compound Finance ecosystem.

The proposal seeks a 1 year investment of 92,000 COMP of Treasury funds into the goldCOMP DeFi vault, to generate interest on 5% of treasury’s non-interest bearing COMP holdings.

Should this proposal pass, Compound DAO transfers 92,000 COMP tokens to the Golden Boys multi-sig wallet. The Golden Boys multi-sig wallet will deposit the 92,000 COMP into goldCOMP vault to receive goldCOMP The Golden Boys multi-sig wallet stakes the full amount of received goldCOMP tokens into the 99/1 goldCOMP/wETH Balancer Pool The Golden Boys multi-sig converts the yields generated by goldCOMP from Balancer Pool into COMP, then transfer COMP back to the COMPtroller on the first day of every quarter. After 365 days, Golden Boys multi-sig wallet withdraws 92,000 COMP from goldCOMP Vault, receives COMP and transfer back to Compound DAO COMPtroller.

Proposal Operations:

Transfer 92,000 COMP to 0x941dcEA21101A385b979286CC6D6A9Bf435EB1C2

https://compound.finance/governance/proposals/247