hvax.eth

[AAVE] April Funding update

Voting ended 12 months agoSucceeded

Simple Summary

This publication presents the April Funding Update, consisting of the following key activities:

Bridge funds to Ethereum;
Fund Sonic incentive campaign;
Acquire GHO for Operations; and,
Transfer FLUID to Aave Protocol Embassy.
Fund to CrossChainController
Update stataUSDT GSM Exposure Cap as it has successfully drawn swaps from aggregators

Motivation

This publication combines near term operational needs and migrating assets held on Polygon in preparation for funding future incentive campaigns. The below outlines the three objectives of this publication:

Consolidating funds to Ethereum;
Fulfilling near term operation requirements; and,

Bridge Funds to Ethereum

Each month the DAO’s funds held on Polygon are to be bridged to Ethereum where they will be used to support various incentive and buyback programs. With the pending Umbrella, Horizon and AAVE buybacks to start in the near future, consolidating assets on Ethereum ensures sufficient capital is readily available if required.

Acquire GHO

In the near term we expect several initiatives to request funding from the DAO. This proposal when implemented will acquire sufficient GHO to sustain the DAO until the Finance Steward is deployed ensuring the DAO is well capitalised at all times.

Examples of near term expenses include:

Service Provider renewal;
Merit and ALC; and,
Incentive campaign(s).

Specification

This proposal shall be submitted as several AIPs that align with operational readiness timelines and ease of review given the volume of funds being moved.