p87 - Treasury Management (Part I)

Summary: This proposal aims to optimize the strategic assets management of the Jarvis DAO treasury to increase the revenues.

Context: The Jarvis DAO has accumulated various assets across different chains including many strategic assets in the form of ve3,3 and it is necessary to optimize their utilization to maximize returns and improve the management efficiency.

Rationale: This proposal includes several actions to take on the treasury management, such as the creation of a gas budget on the multisig of each chain to activate Den's auto gas refund feature.

The proposal also outlines specific actions to be taken on BSC, Arbitrum, Polygon, Ethereum, and Optimism multisigs, focusing on maximizing returns, managing cash reserves, and executing appropriate asset liquidations and staking strategies.

Finally it also considers providing liquidity on DEXs where the DAO controls voting power.

If the concept is approved, another proposal will follow this one to create a framework for LPs using AMO, define the strategy on each dex + associated votes incentives & allocate funds from AMOs to stable liquidity pools.

I) Create a gas refund budget on each multisig

A few weeks ago, OnChainDen implemented a new feature allowing to auto refund the gas paid by signers from the multisigs in the same transaction.

While this can be expensive on Mainnet if many transaction are created, the costs on L2 & side chains are quite low, and enabling this feature will improve the treasury committee efficiency.

The only requirements to enable this feature are to: Whitelist all safes (the Den Team can do it as soon as this proposal is approved) Get gas on each multisig to refund the transactions once activated

II) Treasury Actions by chain

The Jarvis DAO has active management strategies on many different chains, which accumulates many assets, including dust balances on the different multisigs.

Some of these positions are unused, so liquidating them will simplify and optimize the treasury management as well as allow for a focus on the most relevant assets.

Using small balances to acquire gas also allows to clean up the dust on the different multisigs. To avoid failed transactions, all swaps would be done by transferring to Jarvis LTD which will send back the requested assets to each multisig.

BSC Multisig positions: 6,8k$ of veTHE (32,5k tokens) : Used to voted on jBRL/USDC concentrated liquidity

1,6K$ of Expired Locked DDD (1,9M tokens) : Used to vote on jBRL/BRZ on DotDot

Assets: https://debank.com/profile/0x38329f26a075d53324efd6e5f53869354fa1cfbc

Besides the jEUR coming from Jarvis AMO, all other balances are treasury.

Actions: Sell dEPX for DDD Sell 1,5k jCHF + 2,5k BUSD for DDD Relock expired & lock new DDD Vote for 2BRL on Dotdot Withdraw 2BRL POL from Thena Add 2BRL POL on Ellipsis Stake POL on Dotdot Sell 500$ of BUSD for BNB (gas budget)

Additional considerations for next proposal: Create POL on jBRL/USDC on Thena Define a bribe budget using JRT/BRZ/(BUSD ?) for bribes Define allocations for the remaining BUSD & jEUR AMO

Arbitrum Multisig positions: 36k$ of veRAM (1,85M): Used to vote on many pools for now 13,4k$ of veCHR (150k): Used to vote on XX for now 1,5k$ of veSLIZ (300k): Used to votes on many pools for now

Assets: https://debank.com/profile/0x39bafa9f4c4dce3eac9333ceb7feec03c9dd4682 - Besides 50k jEUR coming from Jarvis AMO, all other balances are treasury.

Move solidlizard's vote to jEUR/agEUR only because of the low value for veSLIZ. Picking this one over JRT/WETH makes sense because the DAO can easily allocate POL. Sell WBTC & Dusts to WETH (gas budget) or RAM to reach 2M

Additional considerations for next proposal: Create POL on Solidlizard, Chronos & Ramses Define a bribe budget using JRT/jEUR for bribes Define allocations for the USDC & jEUR AMO Lock RAM for veRAM if acquired

Polygon Multisig positions: 6,5k$ of vePEARL (51k): Used to vote on jEUR/USDR 24K$ of Matic LP on Balancer

Assets: https://debank.com/profile/0x2709fa6fa31bd336455d4f96ddfc505b3aca5a68 - All assets belong to the treasury

Actions: Swap Tetu, CASH, jEUR, MIMO & USDT to BAL Send all BAL to mainnet msig (or directly sell for AURA) Swap all Dust & Klima to MATIC & send back to Polygon Msig

Additional considerations for next proposal: Create POL on Pearl & Retro soon Define a bribe budget using JRT/USDC for bribes Define allocations for the JRT (80/20 ?)

Ethereum Multisig positions: 12,8k$ of veAPW (Not used until v2) 500$ in Curve 3pool

Assets: https://debank.com/profile/0x2ca74be68f0a0e053f030d143c1376806babedc9 - All assets belong to the treasury.

Actions: SwapcvxCRV + CRV tokens for AURA (or CVX or LIT) Sell BAL tokens for AURA Lock all AURA for vlAURA Sell all other dust tokens and 3CRV for ETH.

Optimism Multisig positions: 29;6k$ of veVELO (320,5k)

Assets: https://debank.com/profile/0x40bd131fa9933d592344783e38f0c0f27767d9fa

Besides 100k jEUR coming from Jarvis AMO, all other balances are treasury.

Actions: Swap agEUR, sEUR & 1000$ of OP for ETH (gas refund) Swap the remaining OP for USDC ?

Additional considerations for next proposal: Create POL on Velodrome Define a bribe budget using JRT/OP for bribes Define allocations for the OP/USDC & jEUR AMO

Voting Options: Yes, approve the proposed actions & work on the POL management proposal No, rework proposal Abstain