Creation & Funding of the mStableDAO Asset Management subDAO

After this successful internal motion, and in line with this forum post, it is proposed to put into existence an Asset Management subDAO committee within the wider mStableDAO signer group.

The intention is to strike a solid balance between decentralization and efficiency for managing idle treasury assets in the DAO’s custody, with a smaller signer group that can be more responsive to opportunities.

The Asset Management subDAO will consist of 3 signers from the mStableDAO, and be a 2/3 multisig. A new Gnosis Safe will be deployed for this subDAO, and all asset management requests from the ecosystem will be handled by it going forward.

mStableDAO Asset Management subDAO

Genesis team member 1     0x4B37BbC8CAb32aade27Ce8b1bb2A9E614de81E03
Independent signer 1      0x9afF049B4F2E0269F5ae07F3FBf0414ef600Fb0e
Independent signer 2      0xba0E104fF9a400089cc4882f976094fde14AC5E3

Gnosis Safe               0x67905d3e4fec0C85dCe68195F66Dc8eb32F59179

Funding for the subDAO will be handled in the monthly mStableDAO signer calls.

The current Cat Herder will provide a short summary of activities for the Asset Management subDAO in each signer call, so the wider mStableDAO signer group can stay up-to-date on the committee. The Cat Herder will also be responsible for assuring that all on-chain activities related to these asset management activities will be executed in due time and with proper diligence to maximize the potential of said assets, and one signer from the subDAO will be chosen to liaise with the Cat Herder to handle transactions.

As an initial funding request, it is proposed to move the entire allocation of BAL tokens (ca 13,210) & DAI tokens (ca. 422k) from the mStableDAO treasury into this new Safe in order to deploy liquidity on the Balancer Finance incentivized pools, as well as the Convex Finance platform. The exact positions are to be determined in a separate governance vote pending successful creation of the subDAO.

Should the mStableDAO Asset Management subDAO be created, and be funded with the entire allocation of BAL & DAI tokens from the mStableDAO treasury in order to engage in the protocol opportunities outlined above?