317-treasury-management-aura-dai-otc.md

Proposal 317. Treasury Management - swap aDAI from treasury to AURA

Voting link

https://app.aave.com/governance/proposal/?proposalId=317

Governance forum discussion

https://governance.aave.com/t/arfc-treasury-management-acquire-aura/14683

BGD analysis

Proposal types

🏦 treasury

Context

This proposal executes an OTC swap with Olympus DAO, of DAI from the Aave Ethereum Collector to AURA.

Proposal creation

Transaction: https://etherscan.io/tx/0x627a677a65368cafde8831791eb40b6b3bb57e47da2c1f779bba36bef33177ca

- id: 317
- creator: 0x329c54289ff5d6b7b7dae13592c6b1eda1543ed4
- executor: 0xee56e2b3d491590b5b31738cc34d5232f378a8d5
- targets: [0xdfee3ec490caabf760f77b39652e4208a5848971]
- values: [0]
- signatures: [execute()]
- calldatas: [0x]
- withDelegatecalls: [true]
- startBlock: 18099226
- endBlock: 18118426
- strategy: 0xb7e383ef9b1e9189fc0f71fb30af8aa14377429e
- ipfsHash: 0xa8fae12f14e52f4f19f4f008bfc67ec6ee7d22c5b5ee50b5a12063d215a9325f

Aave Seatbelt report

Ethereum

https://github.com/bgd-labs/seatbelt-for-ghosts/blob/main/reports/Aave/0xEC568fffba86c094cf06b22134B23074DFE2252c/317.md

Technical analysis

We have verified the proposal payload does the following:

1. Transfer from the Olympus DAO 443'674 AURA tokens, to the Aave Ethereum Collector. This will depend on the counterparty having given approval in advance to the Aave Governance Level 1 Executor (Short Executor).

2. Withdraw 420'159 aDAI from the Aave Ethereum Collector.

3. Redeem DAI from aDAI.

4. Transfer the DAI to the Olympus DAO address.

The proposal is consistent with the description in the forum and Snapshot.

BGD validations

✅ The code on the proposal payload corresponds to the proposal specification.

✅ The proposal includes a proper tests suite, checking all necessary post-conditions.

✅ BGD reviewed the payload before the proposal was submitted.

✅ Only one payload used via delegatecall

✅ BGD reviewed the procedure followed to submit the proposal.