[AAVE] February Funding Update - Part B

Simple Summary

This publication presents the February Funding Update - Part B, which consists of performing the following key activities:

• Bridging funds to Ethereum;
• Create Merit & Ahab Allowances;
• Deposit previously swapped assets on Part A

Motivation

This proposal is a continuation of February Funding Update Part A and as part of our ongoing Treasury asset rebalancing strategy, this proposal when implemented will continue to:

• Bridging assets from Polygon, Arbitrum and Optimism to Ethereum;
  • Continue reducing bridged USDC exposure in support of Native USDC adoption;
  • Convert DAI to USDS;
  • Prepare to unstake wstMATIC;
  • Transfer BAL and CRV to ALC.

Specification

Bridge Assets to Ethereum Mainnet

Withdraw from respective Aave Protocol and bridge the following assets to Ethereum mainnet.

| Polygon v2 & Passive | Polygon v3 | Arbitrum v3 | Optimism v3 | | : : | : : | : -: | : -: | | amUSDC.e (All-100) | aPolDAI (All-1) | aArbLUSD (All-1) | aOptLUSD (All-1) | | amBAL (All-1) | aPolWETH (All-1) | aArbUSDC (All-100) | aOptUSDC (All-100) | | BAL (All) | aPolBAL (All-1) | aEthDai(All-1) | | | USDC.e (All) | aPolUSDC.e (All-100) | Dai(All) | | | AAVE (All) | aPolAAVE (All-1) | | | | amWETH (All-1) | aPolstMATIC (All-1) | | | | amDAI (All-1) | aPolDPI (All-1) | | | | wETH (All) | aPolwstETH (All-1) | | | | CRV (All) | aPolCRV (All-1) | | | | wstETH (All) | | | |

Deposit into Aave V3

| Instance | Asset | Amount | | : --: | : : | : -: | | AaveV3EthereumCore | ETH | All | | AaveV3EthereumPrime | GHO | 3M | | AaveV3EthereumCore | USDS | All |

Withdraw and burn 3M GHO on Prime instance

As per Chaos Labs' recommendation, withdraw and burn 3 Million GHO from Prime instance that had been previously been minted and supplied via the GhoDirectMinter Facilitator. Read more here.

Merit + Ahab Programs

Create allowances to the Merit_Ahab Safe, 3M GHO aEthLidoGHO and 800 aEthWETH from Aave v3 Prime and Core instances respectively:

SAFE: 0xdeadD8aB03075b7FBA81864202a2f59EE25B312b

References

• Implementation: AaveV3Ethereum, AaveV3Polygon, AaveV3Optimism, AaveV3Arbitrum
• Tests: AaveV3Ethereum, AaveV3Polygon, AaveV3Optimism, AaveV3Arbitrum
• Snapshot: Direct-to-AIP
• Discussion

Copyright

Copyright and related rights waived via CC0.

https://app.aave.com/governance/v3/proposal/?proposalId=259