412-treasury-management-crv-to-glc.md

Proposal 412. Treasury Management - Transfer CRV and aCRV (v2/v3) to GHO Liquidity Commitee (GLC)

Voting link

https://app.aave.com/governance/proposal/?proposalId=412

Governance forum discussion

https://governance.aave.com/t/arfc-deploy-acrv-crv-to-vecrv/11628

BGD analysis

Proposal types

🏦 treasury

Context

This proposal transfers all the CRV (redeeming aCRV (v2/v3) too) held by the Aave DAO in the Aave Ethereum Collector to the GHO Liquidity Commitee (GLC), for usage in the incentivisation of GHO on the Curve platform, via StakeDAO.

Proposal creation

Transaction: https://etherscan.io/tx/0xe80efe71357574155c123b43f08d32bc32191a3d7a8593787749c5b491f7c3ae

- id: 412
- creator: 0x57ab7ee15ce5ecacb1ab84ee42d5a9d0d8112922
- executor: 0xee56e2b3d491590b5b31738cc34d5232f378a8d5
- targets: [0x9aee0b04504cef83a65ac3f0e838d0593bcb2bc7]
- values: [0]
- signatures: [forwardPayloadForExecution((uint256,uint8,address,uint40))]
- calldatas: [0x00000000000000000000000000000000000000000000000000000000000000010000000000000000000000000000000000000000000000000000000000000001000000000000000000000000dabad81af85554e9ae636395611c58f7ec1aaec50000000000000000000000000000000000000000000000000000000000000026]
- withDelegatecalls: [false]
- startBlock: 18797804
- endBlock: 18817004
- strategy: 0xb7e383ef9b1e9189fc0f71fb30af8aa14377429e
- ipfsHash: 0x522201994687772117e9786a7450b39dd02e112e3ec3828fce2342fde71f3f1e

Aave Seatbelt report

Proposal report

https://github.com/bgd-labs/seatbelt-for-ghosts/blob/main/reports/Aave/0xEC568fffba86c094cf06b22134B23074DFE2252c/412.md

Payload reports

https://github.com/bgd-labs/seatbelt-gov-v3/blob/main/reports/payloads/1/0xdAbad81aF85554E9ae636395611C58F7eC1aAEc5/38.md

Technical analysis

We have verified the proposal payload properly transfers all the CRV available balance from the Aave Ethereum Collector to the GHO Liquidity Commitee, labelled as GLC_SAFE.

Before that transfer, the whole balance of aCRV v2/v3 is redeemed, to also send the proceeds of it.

The proposal is consistent with the description on both Snapshot and the governance forum.

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.